It gave us an immense pleasure to share our experiences, learnings and of course, our mistakes as well, at Startup Saturday event, held on 11th May, at La Makaan, Hyderabad .
a) Give equal importance to sales: Like many start-ups we were initially driven by passion and never gave a thought on sales till we confronted empty days. Sales is like quarterfinals and our core product or service is like finals, many people tend to say finals is more important. Give a thought, if you don’t get through quarterfinals how come you get a chance to prove the essence of your product or service?
b) Failure or Success, do it fast: Since Success is a function of time, delaying is by default resulting you failure. Embrace your failures, they do teach us a lot than success stories. Start-ups are best for their intensified learning in shortest time through their successes and failures.
c) Listen to your data: While performing any marketing activities make sure that you are listening to the data (inputs/responses). Decoding the collected data is another complicated and most important phase of any marketing activity. This helps you better in making yout next step foolproof.
d) Speed is better than beauty: In this competitive market every competitor claims their own USP. Of all, the most commonly liked factor by clients or consumer is speed. Shortest turn around times clearly depicts ones commitment on their service.
e) Collaborations: Since start-ups are the one with lot of budget constraints for marketing and advertising, collaborating is one good way to pick up the pace and enhance your visibility in multiple folds.
f) ESOP (Employee Stock Options): It is always suggested to be human when it comes to ESOP. Employees are the major assets for any organization and happy employees are the one who give their best to the organizations. Make sure your hard workers are happy enough.
g) Do not overcommit or over-promise: It’s difficult to keep your prospects or clients happy when you do excess number of promises and commitments, by increasing their expectations on your service/product. Rather, it is good to leave the client with a good impression on your service/product with their normal expectations. This scenario is also applicable to pricing your service/product. Once they get used to the low price offering, the chances of retaining your services/product with a revised cost is very less. Being genuine is the best way to find genuine prospects.
h) Under capitalization Errors: This is one of the most commonly committed mistakes of many start-ups. Since they are not aware of the unexpected/unplanned investments it is always good to have a buffer capital that acts as cushion over the time.
i) Empty Days: This is the phase that major percentage of start-ups are put through. Staying confident and positive can happen through balanced introspection and actions. Just remember that you are not the only one who is being put through the empty days.
j) Personal Life: For a very obvious reasons start-up people more frequently do burn the midnight oil. It is good to make sure that your family members understand the unavailability of your presence and even sometimes you being cash unhealthy.
Mistakes & Learning of Window Square Advertising, Hyderabad.
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