Are you looking to start a business? Well then, this is just for you. How to build a company from scratch is the 2nd part of the vlog series – An Entrepreneur’s Guide.
It is easy to skip the initial stage of planning and just go ahead, all the while thinking you can work out the details later. But remember starting a business without a well thought-out plan may not be smart route to take. So here’s a guide by the founder and CEO of Crownit for you entrepreneurial folks to help you establish your business. Read on…
1. Build a Grand Vision
To start a company, building a vision as well as providing leadership are top priorities in the initial stages. You and your team will make plans and execute them. However, there will be disappointments as well. In such situations, providing a vision and motivation under your leadership is extremely crucial.
2. Create a Leader
Building a leadership layer is vital. Create leaders within an organization, empower them. Let them fail, let them come back and learn. This will produce results.
3. Think like a Manager
It is important to have people who are dedicated and accountable. Then, divide responsibilities among these people as this will provide areas they can excel in. This will take your team to the next level.
4. PR and Marketing
Remember, PR and marketing requirement is different for Low Frequency, High ticket products and High Frequency, Low Ticket products.
Brand introspection is important. Look at your company from the point of view of outside forces. Knowing your customers or target audiences’ behaviour will make it easier for you to ‘Tailor-Make’ your PR and marketing campaigns.
5. Create Internal Talent Pool
Always create internal talent pool and skills to get things done. Once a task becomes a core task in the company, outsourcing manpower will not have the same cultural and emotional attachment to your company to make it successful.
6. Hire the Right People
Always look for people who are skilled to do a job. People who have performed similar functions in multiple cycles. Hire people with skills, passion and someone who wants to make your company a success.
7. Checks and Balances
Checks and balances will ensure that you have the right processing and that you know how to measure success. Always remember performance is evaluated by actions taken. Measure the performances of your team and how they all relate to build a result.
Building a company from scratch is not rocket science. Make sure you have an amazing team and you will get amazing results.
Watch more of How to Build Your Company from Scratch | An Entrepreneur’s Guide – Part 2 here: