By SME Empowering SMEs
A start-up is supposed to be an organisation that is designed to rapidly develop scalable business model. Start-ups chase their goals by deploying technologies and many other legitimate options in order succeed and when they do, they become talk of the town.
A start-up is usually innovative, they do not sit their laurels. They find ways to always improve on what that which is always on ground.
Even if your business isn’t a start-up, you cannot afford not to think like one.
Below are some start-up mentalities that your business cannot afford to forego no matter the size or age of your company.
Your company should always think to improve on whatever it already has on ground. No doubt that the initial idea that led to you starting the business is a great one and have a good market acceptance rate for it, but we know that tastes and preferences of people are constantly changing. Everyone wants some more. So the more frequently you come up with newer innovations that meets the ever changing tastes of the consumers of your brands, the more you keep them and even catch more.
Sitting on one great idea will stall your business eventually as you wouldn’t evolve or improve. Do not also wait before its too late before you innovate always think of a new idea as often as possible. Always analyse your customer base and come up with ways to make them happier before your competitors do.
Always be ready to move with the trends. We see that the rate of technological advancements and innovations are almost on an hourly basis. Technology is taking over the way of doing business.
Not open to a new way of doing things can be so disadvantageous to your business and brand. An example is Kodak. Kodak was once the giant in the image space long before the digital era. In 1975, one of its employees invented the digital camera and digital film. Due to the fear of the new technology cannibalizing the existing products, the company did not accept this new innovation instead they went to get a patent for their existing brand.
After some years, the patent expired and today the once well known Kodak has phased out and we all know what we can do with the digital camera today. Kodak could have being the principal owners of the digital camera if it had embraced the change.
When technology is moving in a new direction, make deliberate efforts to move with it. Always take the chance to create something new, though it comes with some risks but a startup always moves above its fears.
Always See a Potential:
There is always am potential in every idea and as a start-up or a business, you should always strive to see this potential. A start-up doesn’t spend time ranking, it develops products fast and sends them out, letting customers decide their worth.
How did Steve Jobs develop the computer mouse? He simply saw it in a new way.