November 27, 2022

Thrive Insider

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4 Ways to Grow Your Business

It Is All About The Details: Areas To Manage At Your Startup

Startups can be a volatile environment to work in which can also be exciting. Employees might love being able to see their direct impact on the business. Large corporations might make it easy for professionals to feel like their work is being lost in the rat race. Startups can have one department of the business take down the entire company as everything is related. Creating a list of what needs to be done monthly is so important as it can be easy to forget things. A huge deal being signed could lead to a founder forgetting important things like running payroll. Below are areas of a startup to manage before they impact the growth of the business negatively. 

Accounting

Accounting services can be so important for a growing business. A startup wants to ensure they are only paying the taxes that they owe. Tax breaks can be found by a CPA that a regular individual might not know even with a bit of an accounting background. There is a huge difference between someone that has run the books for a small business and accountants that handle larger businesses. Take the time and money to ensure your business is safe from IRS audits. A mistake could cost money and additional money in penalties as well as interest. 

Hiring The Right Employees 

Hiring the right people is so important during the infancy of any business. Looking for employees that are used to a startup environment can be so important. The stress of a startup can be something that gives a professional energy while another might find it draining. Hiring software is such an important tool to use as it can help narrow down the best applicants for a position. The ability to send out automated emails to schedule appointments or let an applicant know they weren’t selected provides convenience. Cutting down the time it takes to hire combined with hiring higher quality employees is a win-win situation. 

Digital Marketing 

Digital marketing can help legitimize a business in the eyes of the public and others in the industry. The truth is that digital marketing should be handled by the experts. You should have an in-house marketing team along with supplemental help from a digital marketing agency. You do not want to rely solely on an agency as an in-house team can help ensure they are providing quality work. The truth is that results should do all of the talking as an increase in traffic means nothing if leads or sales do not increase as well. There are plenty of tricks to increase traffic that won’t convert if this is the KPI that a startup is focusing on. Take the time to enlist the help of top marketers in-house and find an agency to help supplement their efforts as a fixed cost. 

Growing pains are a part of any startup and lessons are learned for first-time entrepreneurs. Manage the areas above in an efficient way as it is something you will not regret.