Investing money in a startup requires proper planning and guidance. So, many people might have told you that your business would improve if you have a website or if you have a good branding etc. It is common to get confused during the initial days whether you should be investing too much for your business or too less for your business. The thing is not about how much you are spending; it is about investing in the right thing. While investing money in a startup, financial management is essential, and it, of course, plays a significant role in the growth of the company in the upcoming days. In case you are among many budding entrepreneurs that want to succeed by managing their financial state parallelly, then I think this blog might be helpful for you to some extent. Few might think investing money in plenty of resources can help you grow the organization fast, and others might think that having an international presence can bring you success. What exactly do you think you need as a startup?
First things first, as a startup it is very crucial to enhance your online presence. People might say that having a website will improve your online presence. Don’t believe them; as a startup, you need to concentrate more on social media marketing for your business to increase your branding. Social media such as Facebook, Instagram, LinkedIn and WhatsApp are the best social media accounts to promote your business. It is cost-effective and adds value to your business during the initial days. Staying active on social media can allow you to reach millions of people online and subsequently grow your brand. Always be available online so that you don’t miss any customers or business.
It would be suggestable to add a google business page for your business which is free of cost and provides the user with the relevant information about your business including the description, gallery, address and contact information. When you are sure that your business is going good, then you can think of further enhancements that might be required. Promote your business content as much a possible. To get ranked in the search engines, you need to have a lot of relevant content posted on Google, Bing etc. Content is the key to growing your online visibility and spreading awareness among the public about your business. In the next phase, you can think of a website where you can customize it as per your needs and provide users with the flexibility to communicate with you through your website or purchasing products, etc. from your website.
The website has its advantage as it helps in maintaining the brand that is built as a startup. Make sure that your website is mobile responsive as most of the people nowadays use mobiles to browse and in case your site takes more than 5 seconds to load then there are 98% chances that the visitor will not continue with your website. Why? Because they got many other options out there that gives them the required information in lesser time. But it is always a good idea to get stabilized with social media and then invest in a website. While investing in a website, it is equally important to choose an experienced and professional organization that provides quality service and maintenance for your business. Instead of investing in unnecessary features, understand what features you would like to have in your website and then get the advanced features developed in the next version as per the market analysis. Do not show ads on your business website. You may earn through that, but ads make your website look less professional.
There might be several other companies that provide the same services/products as your business. To stand out of the crowd, you need to understand the unique selling point of your business. This is altogether another topic on which I have already posted a blog. You can have a look here. Once you think that the customers are drawn towards your business despite the competition, then it is a right time to invest in the next version of your website where you can add advanced features, and if you think your customers might need an app, you can go for it. Understand if your customers require an app to stay engaged with your business. If you are an e-commerce or restaurant business, having a mobile app makes sense, but if you are an IT company, having a mobile app doesn’t make much difference. In that case, have a responsive and mobile-friendly website is enough to engage the users.
Financial management plays a major role in the success or failure of any business. Before taking any decision check with the experienced or successful business people in your circle and invest wisely in your business. Let me know your feedback through comments below or drop a message here. I am open to suggestions.