![]() Create Referral Opportunities to Boost Startup Success Believable testimonials can have a strong impact on your startup success. Let your customers do the talking for you through case studies and exciting results. The home page on your website may be your prospects first exposure to your brand. By showing them testimonials from happy clients along with results they achieved, you start to build that trust. When youre new, theres no easy way for prospects to find out whether they should buy from you. Show Testimonials With Results On Your Home Page More here on creating happy customers: The Happy Customer: 10 Ways to Improve Customer Satisfaction. Listen more than you talk and dont let your pride of building a product create a defensive posture if you get critical feedback. Send them educational videos, tips on using your product, use cases to show them ideas they havent thought of. They will become your ambassadors to your next set of customers and will drive growth. Shower Your First Customers With Bear Hugs and Loveīe obsessive about customer happiness, especially your first ones. While they may be cheaper to hire, B players cost you more in the long run.Īlso, avoid hiring friends. The difference between having an A+ player and a B player is 2x or more in productivity. Pay them market rates - and if you cant do that right now, give them extra stock options but get to market rates as fast as you can. If it is, you are worth less money to a buyer. Thats right, the value of your company cannot be you. Your startup success depends on making sure youre replaceable. #Startup panic tips manualA manual accounting process will need automation. What was once a quick design decision will eventually require a lot more thought and planning to ensure that adding a new feature wont break another feature. You dont know when youll sell, but this mindset forced me to create processes so that the company could sustain itself. The beauty of the trailing 12 month cash flow bar chart is that it provides an early signal that you need to make changes to create business growth. If your 12 month totals are not changing, or worse - if theyre decreasing, youll know instantly because your curve will be flat or trending downward. Next month, do it again for the trailing 12 months - and so on. To create this metric, add up all of your sales in the last 12 months and put the total in one column of a spreadsheet. For startup success, monitoring your trailing 12 month cash flow removes seasonality and provides a better indicator of whether youre growing or shrinking. In a SaaS (software as a service) business like mine, we used metrics like number of new trials, conversions, active accounts by tier, average overage charges, support tickets, at risk accounts, and much more that provided a high level view of everything you need to know for your success metrics. You absolutely must have the pulse of your cash flow and other key performance indicators at all times. Create Referral Opportunities to Boost Startup Successġ. Shower Your First Customers With Bear Hugs and Love ![]()
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