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10 Keys to Startup Survival

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How to start a small business broken down into 10 key steps. For the details check out my free online course to take your startup from idea to early revenue to positive cash flow.

http://www.thesmallbusinessforce.com/free/

Published in: Business
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10 Keys to Startup Survival

  1. 1. 10 Keys to Startup Survival Tor Johnson as a zombie with his victim in cult movie Plan 9 from Outer Space (1959). wikipedia.org 10 Keys to Startup Survival
  2. 2. How not to become a small business statistic How not to become a small business statistic Photo by Mike Baird licensed by creative commons no changes were made
  3. 3. You need these talents to succeed: You need these talents to succeed: Photo by Craig Nagy licensed by creative commons no changes were made
  4. 4. Passion Photo by PDpics.com
  5. 5. Courage Photo by Andy Spearing licensed by creative commons no changes were made
  6. 6. Perseverance Photo by en.wikipedia.org
  7. 7. Flexibility Photo by en.wikipedia.org
  8. 8. Work Ethic Photo by freestockphotos.biz
  9. 9. A Desire To Grow Photo by pexels.com
  10. 10. You need a battle plan not a business plan You need a battle plan not a business plan Photo by Pixabay.com
  11. 11. Don’t waste time/resources creating a business plan Photo by Pixabay.com
  12. 12. Spend your time getting your first paying customer Photo by commons.wikipedia.org
  13. 13. Make “maniacal focus” your mantra Make “maniacal focus” your mantra Photo by Pixabay.com
  14. 14. Avoid “feature creep” Photo by commons.wikipedia.org
  15. 15. Market “deep” not “wide” Photo by Vicky Brock licensed by creative commons no changes were made
  16. 16. Sacrifice early margin Photo by Pixabay.com
  17. 17. Get customer feedback Photo by Pixabay.com
  18. 18. Being in a competitive market ain’t bad news Being in a competitive market ain’t bad news Photo by Betsy Weber licensed by creative commons no changes were made
  19. 19. Competition means there’s a market Photo by Commons.wikipedia.org
  20. 20. Photo by sam2332 on DeviantArt Learn everything about your market
  21. 21. Photo by thebittenword.com licensed by creative commons no changes were made Find your niche
  22. 22. It’s all about selling and you’re your best salesperson! It’s all about selling and you’re your best salesperson! Photo by opensource.com licensed by creative commons no changes were made
  23. 23. Photo by Siemens PLM Software licensed by creative commons no changes were made Early on, you can’t afford a professional salesperson
  24. 24. Photo by Pixabay.com Find who needs your product/service
  25. 25. Photo by davitydave licensed by creative commons no changes were made Get in front of your prospects any way you can
  26. 26. Photo by Dave licensed by creative commons no changes were made Don’t give them a “drink from a firehose”
  27. 27. Photo by Bold Content licensed by creative commons no changes were made Do more than demo your product, let them use it
  28. 28. Photo by Pexels.com Give them an offer in writing / ask for the order
  29. 29. Photo by en.wikipedia.org Stay actively involved after the sale
  30. 30. You can’t do it without customers You can’t do it without customers Photo by en.wikipedia.org
  31. 31. Photo by J3SSL33 licensed by creative commons no changes were made Get as many of them as early as possible
  32. 32. Photo by Tech.Co licensed by creative commons removed the name of the person speaking Listen to their feedback
  33. 33. Photo by Lee Haywood licensed by creative commons no changes were made Love them so much they will never want to leave you!
  34. 34. Cash is not as important as breathing...But only a close second! Cash is not as important as breathing...But only a close second! Photo by Sean McMenemy licensed by creative commons no changes were made
  35. 35. Photo by OTA Photos licensed by creative commons no changes were made Cash generation
  36. 36. Photo by Simon Cunningham licensed by creative commons no changes were made Managing cash from customers & suppliers
  37. 37. Photo by Pexels.com Incentivize early payments Staged pricing / progress payments Advanced billing / collections Point of purchase / mobile payments Negotiate terms whenever possible
  38. 38. It’s only a real business if you’ re getting paid It’s only a real business if you’ re getting paid Photo by Howard Lake licensed by creative commons no changes were made
  39. 39. Critical considerations for seeking outside investments Critical considerations for seeking outside investments Photo by aisletwentytwo licensed by creative commons no changes were made
  40. 40. Investors fund businesses, not ideas Investors invest in you and your employees Earlier the investment, higher the risk, higher the equity stake Do you need capital or specific resources? Don’t run out of money while you're raising it No such thing as a “silent” investor
  41. 41. It’s lonely at the top, but it doesn’t need to be! It’s lonely at the top, but it doesn’t need to be! Photo by Harsha K R licensed by creative commons no changes were made
  42. 42. Get an advisor/mentor Market/customer-focused Hire for the present, with an eye to the future Have an outlet Find partners Photo by David Goehring licensed by creative commons no changes were made
  43. 43. Want more startup advice?Want more startup advice? Photo by Quinn Dombrowski licensed by creative commons no changes were made Click to download my free guide!

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