“Concepts for the Startup CEO”
from “Growing your Business” 9/13/10 in USA Today. Created by Peter/CXO Wiz4biz
1. Peruse your Prospects. Find out what they need & want. Does your product/ service do it for them? Can you modify it to do that?
2.Seek the Sage. Get advice from those who been thru a Startup before – preferably, many times (a Cereal, no, Serial Entrepreneur) – as a CEO, Marketer, Mental (no, Mentor), Business Consultant – to set up your Biz Model (ie, Wiz4biz’s 5 Star Startup Services)
3P’s = Pursue & Persuade your Peers. Talk to other Entrepreneurs on a regular basis (ie, Network at Mixers, Meetups), to find out what they think of your product/service. Use that to make yours better. Then find out what the challenges of their business are, and how they solved them.
4. Tests & Trials. Have a few Customers use your product/service as a Beta Test and give you feedback on what they like & don’t. Take what you like & make it better !!
5. Go for the Goals. Keep your people informed of your Vision (long term, 3-5yrs) and your short & long term Goals. Measure your Goals, SMART-ly*, so you see how close you came, any trends.
* S=Smart, M=Measureable, A=Achievable, R=Relevant, T=Timely
6. Hire Doers, Not Delegaters. People who have been, and want to be, directly involved in the development, promotion or other creation of your Product or Service. Only keep those that are “passionate” about your Vision.
7. Coach your Cohorts. As CEO, when you delegate responsibility, tell them and show them (if you can), what your objective is. But give them the freedom to do it their way, cause it may be better. Review the results to determine if acceptable.
8. Follow the Financials. You may be a techie that doesn’t like to get bogged down in financials, but Cash Flow has to be measured for each function, so you know what’s working & what’s not. Hire a Financial Fanatic that loves numbers. Have them teach you a little about it, so you understand when they’re giving you the results.
9. Communicate w/ your Customers. Find out what they like & don’t, so you can be sure you’re meeting their needs. Get feedback on how you can get better.
10. Partner with Players, who are willing & able to grow with you. Make sure your Suppliers & Distributors have the capacity to handle a surge, if/when you have your breakout one.
11. Build your Backups, so you have secondaries, etc, if the primaries cant handle it – so you don’t miss a beat – so you can deliver on time – as you promised.
12. Review your Results, to see how you’re doing – what’s working, what isn’t – to know where to focus. Make the corrections needed or change the goals.
“Now go out there & be successful !!!
Comments: What do you think? Will these “Boom your Business? Anything else needed?