Startup Founders and the Homework Imperative
Whether you are new to the world of startups or an entrepreneur already in practice, there’s always one thing to agree on and that is that money matters. The biggest mistake you can make is not being prepared for what you’re doing and most entrepreneurs aren’t taking that into consideration. If you don’t do your homework the price you pay can end up being pretty hefty and who wants that? Make the most out of your investment by preparing yourself!
Here’s how you can do just that:
Acquire your marketing materials and give clear instruction
When you hire a photographer or any artist for your marketing materials make sure you have everything you need and they have everything they need to get the job done. Vague instruction leads to miscommunication and a waste of everyone’s time and money.
Make a list and communicate with your team to ensure that everything is running as smoothly as possible. Discuss what you want the marketing materials to communicate to potential customers and work together with the artist to bring the vision to life.
When you’re building the software for your business you need to keep in mind what the ultimate goal is so you can craft the software to reflect that. Adding features may be exciting but ask yourself if it’s really necessary. Some of the smallest changes can yield the biggest results.
When you keep that in mind you can make smaller changes, have software that is of actual use to the company, and avoid exhausting your resources on things you could do without. Have one person in charge of receiving input and requests for things that other team members feel could be changed.
Designing your office
When opening a new office or building it is wise to create a detailed budget and have a 3-D rendering of the space prepared so you have something concrete to show the design teams involved. It is quite the investment, but having everyone on the same page can also save a lot of time, money, and stress. 3-D renderings allow you to avoid flawed layouts that will, later on, cost you more money to fix. This also requires that many decisions are made in advanced and will save you more time. If you plan on potentially opening more locations in the future you can save the rendering and use it as a base for those that follow.
Every company has different needs that have to be met and unique resources that are going to have to be acquired to meet those needs. However, one thing that holds true for every startup is that the more time that is spent on planning, the better and more successful the execution will be. Worst case scenario- you spend time preparing for something that doesn’t work out. There really isn’t a downside to this because in your preparation phase you were able to learn valuable skills that you will be able to apply to the next venture. Keep in mind that time spent planning is never wasted time! TNJ