You think you’ve got a great idea and you’re ready to strike out with your own digital startup. Do you have what it takes to succeed or will you be one of the more than 50% that fail within your first four years?
Knowing that more than half of startups fail so soon is daunting. If you can read that number and keep going, you’re already on the right path.
We know you’re hungry for success and we’re going to show you how to not only survive but thrive with your new business. Check every item off of our digital startup checklist and watch your business soar!
Know Yourself
Step one in creating your new business venture: know yourself and your product. What does that mean?
Make sure your product is well-defined. Ask your friends and family to bring up any questions they have so you can anticipate any bumps in the road.
Know what you’re capable of. If you can’t quit your day job right now, that’s OK, just be honest with yourself.
Get Down to Business
Draw up a business plan for your digital startup. This way you’re not hitting the road without a map.
Give yourself a set of reasonable yet challenging goals. Take stock every day to make sure you’re taking steps, no matter how small, towards achieving them.
Lock Down Your Digital Presence
No digital checklist is complete without understanding how to lock down your online presence.
Here’s what you need to get started:
- Register a domain name. If you’re still struggling with a name, buy a few domains in case you want to change it later.
- Find a web hosting service for your site. Compare different options to find the right one.
- Pick up social media accounts with your company’s name. Even if you don’t end up using them, it’s good to have them.
These are the absolute basics to get started with your new digital venture. Every business is different and your needs might expand beyond these.
Network
While a digital-first strategy can boost revenue by up to 34%, you can’t just hide behind a computer. You’ll still have to get out and grow your network.
Relationships you build now before an emergency strikes are the ones you’re grateful for when that day comes. Offer something of value to forge valuable relationships.
Build Your Brand
You’ve got a great product. You’ve build a network of valuable contacts and have all of your online assets in place.
Now you need to do some digital marketing. There are free options, like your social media accounts, or you can always craft a paid campaign.
Your needs might be limited by the type of business you have and your budget. Do your homework to make every penny count.
Digital Startup Success
There are a lot of components to running a successful digital startup. Once you’ve got the basics, you can branch out into other digital ventures, maybe even create an app or a video channel.
No matter what, this startup checklist has you on the path to victory.
Want to learn more about how to grow your company? Check out our business blog for all of the latest info!
