This is it. This is the year your startup will go big. At least that’s what you were telling everyone at the New Year’s eve party a couple of nights ago. But how exactly are you going to achieve that? What exactly are you going to do this year that makes it different from last year, or any other year for that matter?
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Well, we’ve been privileged enough to observe the startup space for a good couple of years now and we’ve got a few ideas for changes you can make in 2015 that could go a long way to making those slurred New Year’s Eve promises a reality.
They may not always apply directly to your startup, but if you take a moment to think about the points that are being made, you should be able to find at least some value in them.
1. Don’t get stuck in a pitching competition cycle
Don’t get us wrong, pitching competitions can be invaluable. They’re good for networking, can come with some very useful prizes and, most importantly, they’re a good way to ready yourself for pitching for actual investment.
Trouble is, if you start winning pitching competitions, you can end up relying on them to keep your business afloat. If you find yourself at the same competitions you were at three years ago, you’re probably relying too much on them and not spending enough time on the actual business of running your business. That is what you’re building remember? A business, not a sexy idea to sell to a panel of judges.
2. Don’t be afraid to travel (or relocate)
This resolution is particularly pertinent for startups that have had a reasonable degree of success locally and are looking to expand their footprint.
Whether you’re looking to enter a new city or a new country entirely, the premise is more or less the same: you have to spend at least some time there.
There are a couple of reasons for this: first off, no one knows your startup better than you. Yes you’ll have to spend a little time tapping into the local expertise but that’ll only serve you well for any further expansions.
Second, even if you intend going back to your home base, you need to experience what it’s like to completely uproot your life for a little while — especially if you’re going to ask other people to do the same.
And if you’re looking global expansion in general, it can be pretty good idea to relocate the business to another country entirely.
Plenty of countries now offer startup visas, opening you up not only to new markets but also to new investors with a fresh way of looking at things.
3. Make an effort with the media
In emerging markets in particular, the media are very keen to tell startup success stories. Thing is, if you’re waiting for them to stumble on your story, you could be waiting a long time.
You need to be proactive and do everything you can to stick out in their minds. A busy startup scene means that startup reporters can have pretty hectic schedules and can only do so much to help you find them.
A few minutes’ conversation at a conference, or even a coffee can go a lot further than a snowstorm of press releases.
Bear in mind though that members of the media aren’t there to be your tame PR representatives. If a reporter spots a weakness in your startup, you’re much better off taking it into consideration than resisting it.
Similarly, if you find yourself embroiled in a controversy, you can’t expect journalists not to report on it.
4. Aim to succeed
There was so much written about failure in 2014 that at times it was easy to forget that people actually become startup founders aiming to build successful businesses.
Sure all the old cliches about failing fast, failing hard, and succeeding later still apply but only if they’re applied properly and only if that failure happens when you’re tying to succeed.
If a particular idea or strategy is obviously going to fail then it’s obviously not worth pursuing. All you’re going to learn if you do chase after it is that the wrong kind of failure can be a complete waste of time.
