If you’ve felt a little stagnant lately, here are 5 inspiring ways to re-energize your startup.
Diversify your people
Diversifying your workforce with college and university leavers can bring bags of fresh energy, ideas and perspective to your business, and it’s so important to give young people a chance. Investors like to see a business that is ethical, with strong links to the community. I still remember the person who gave me my first break – even though I had no experience – and I’ll always be grateful for that.
Dare to be different
It’s so easy to get stuck in a rut of doing things the way they’ve always been done, especially since the pandemic when we were all operating in fear mode. You don’t have to run your business a certain way, just because that’s how others in your space do it.
That’s the attitude I’ve had since I started Country. I wanted to create a different kind of business model, team structure and creative focus that would benefit others. Be bold, be brave. What can you do differently? How can you create something that works better for you and others? This interests investors, too, as they can see your potential to be unique. Next time your business needs some bold, brave and authentic creative input, whether it’s updating your branding or redesigning your website, think about being different.
When you’re operating in a specific sector, it’s easy to fall into that guarded mindset where
everyone keeps to themselves. You don’t want your competitors knowing too much about you, because you worry they might steal your business.
The problem with that is you miss the benefits of a community. There’s tremendous value in
collaboration. Reaching out to similar local businesses and startups could create a wealth of opportunities, from networking to shared costs; even just having other people to talk to about the challenges you’re facing. There’s power in community.
A lot of business owners who rent premises have been keen for staff to return to the office. I can understand that, but letting people vary their hours, work from home or work more flexibly in ways that support their needs and lifestyles will help your business.
We’re all different, and not everyone is super productive at 9 am. That’s not going to be possible in all sectors, but businesses and startups that recognise the importance of diverse working models will always have a happier team. People before profit.
Get creative and passionate
You need to be confident that your product or service is a market leader (or have a convincing plan to make it one). You’ll have competition from other startups, so think about what sets you apart from your competitors and get creative. Investors are investing in you as much as they are in your business. You have to pitch yourselves, not just your product or service.