By Fernando Berrocal

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Launching their own enterprise is a dream come true for any entrepreneur. Desirable characteristics include creativity and opportunities for advancement.  Most business-minded folks are familiar with the upsides; there are some pitfalls to be aware of, as well.  Often, it’s simpler to address a problem if you are aware it could happen to you long before it does. To reconsider their approach, startups should sit back and evaluate their difficulties. When it comes to preparing for growth, never undervalue your startup’s capacity for adaptation.

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Let’s get into the typical problems that new startups run into, along with helpful tips on how to fix them.  What’s the overall key to running a business?  Create procedures that will assure growth–position your business for success.

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The Most Common Startup Problems and their Solutions

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The chances of an owner meeting and overcoming their obstacles are higher than those of an owner who is unaware of these difficulties. In the following points, we will go over more details about these problems and their respective solutions.

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• Obtaining new clients.  The biggest issue at this point of their business life is that even the most prosperous startups have to work very hard to get brand-new clients. With little to no initial funding, this might be difficult–even impossible–for entrepreneurs. When it comes to attracting new customers, small businesses must be extremely innovative and imaginative.  One solution involves following these three steps: 

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First, identify your target market. Your firm needs to identify the appropriate consumer demographic. The ideal approach entails developing a "consumer persona". You may start producing content exclusively for your target market if you have a clear picture of the consumer you're trying to sell to. This entails being smart with the social media you use to advertise your brand, and employing a message that matters to your target audience (in an engaging voice).

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Second, make sure that your firm is noticeable.  Social media and inbound marketing are excellent, low-cost strategies. Utilize current customers to promote and distribute social content. Make sure that your business is building and maintaining a website. Customers may do this to be informed about your firm and never miss out on information. Making products simple to obtain for clients boosts exposure and simplicity of use. Never undervalue the effectiveness of an email campaign. A great strategy to maintain dominance is to deliver targeted emails to your ideal customer. Another strategy to increase the internet visibility of your business is by using Google Business Profile. It is a free Google listing that enables you to give information about your firm, including your location and products so people can discover you on Google. This tool raises your exposure across all Google services.

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Third, personalize your client service. Are you optimizing the customer service capabilities of your business? It's possible that you won't have much money for marketing when you first launch your business. Here is where “word-of-mouth advertising” is useful. If your business offers exceptional customer service, those will want to return and are more likely to suggest it. Small businesses may more easily provide personalized customer service, which not only makes customers feel unique but also aids in both client retention and acquisition.

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• Advertising and marketing to generate leads. In this case, it might be challenging to identify the marketing sector where your efforts should be prioritized. With so many marketing and promotion options, many small firm owners may feel overwhelmed. The next paragraphs provide a summary of the solutions.

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Start by building an email list. Building trust and maintaining a steady relationship with potential consumers is a strategy to advance along the buyer's journey. If you can handle it, email marketing can be one of the most successful mediums. As it gives your subscribers useful material, email lists maintain your firm at the front of their subscribers' minds. Creating an opt-in email list is an effective method. Here, customers freely provide your business with their emails. If you nurture these clients, they could already be interested in your brand and make a purchase.

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After that, you should think about public relations (PR) options. Utilizing PR initiatives is a great approach to increasing brand recognition. It focuses on identifying your firm's identity and carving out a niche for itself in the marketplace. Determine which media outlets and opinion leaders cover your business, then make an effort to network and collaborate with them. While your business will need to outsource and pay for PR chances, they are well worth the money to spread the word.

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Work together to co-brand and co-sell with other local businesses. Working with other businesses may improve your reputation and brand. They can assist in elevating your business if they have a stronger, more recognizable brand. Make sure your business partner is a respectable brand since co-marketing might assist your firm take on some of the reputation and image of your business partner. A smart method to broaden your network of contacts in business is to collaborate with another organization. It is advantageous for both firms to attract new potential customers if they have diverse target audiences.

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Finally, make your website conversion-friendly. For instance, implementing Search Engine Optimization (SEO) keywords are a fantastic approach to improving conversions. Building authority may be aided by linking to reliable businesses and websites. Your firm website may be improved for search and conversion by creating high-value content, such as blogs. A website scan might be useful for identifying areas for development and those that are working effectively.

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• Administration. Keeping track of payments, sales, and bookkeeping is critical in this situation. But it's also difficult and time-consuming, especially if you have no background. This is why it's crucial to not undervalue the significance of administrative jobs. The solutions to this problem are described in the following paragraphs.

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Create a standardized process for paying employees, arranging meetings, and other tasks. Thankfully, there are ways to make these procedures more efficient. So that your business may concentrate on crucial areas. Your time will be freed up to concentrate on expanding your firm where your expertise is required by hiring an administrative assistant or outsourcing those responsibilities. In these circumstances, investing money to improve your administrative workflow takes less time and saves money over time.

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You can include administration into your client lifecycle framework. Make sure your business has a Customer Relationship Management (CRM) system with established procedures for bringing on new customers. If you're not familiar with this, it effectively offers a localized location where your firm may store client information and keep tabs on interaction. To manage clients and strengthen client connections, you may then distribute this knowledge to all of your coworkers.

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For both new and returning customers, enhance the entire experience. Building an email list will be helpful. A welcome campaign is a fantastic method to engage with clients. Prioritizing current clients when developing campaigns enables constant nurturing and helps businesses remain visible. This might be an emailing customer about new goods or deals. Make sure your company is also using targeted advertisements to remarket to clients who have already visited its website. Email marketing and social media advertisements may be used for this. Offering your consumers, a loyalty program is a great way to keep them coming back. Loyal clients are likely to return and recommend your business to others if you provide them with incentives.

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In conclusion, there are several common issues that every business may have. However, these issues may be easily handled by your business if you take the time to identify your customer´s problems and utilize strategic planning to develop efficient methods. Your startup will expand and advance more if you address typical problems including customer acquisition, marketing strategy, lead generation, administration, and employing and keeping exceptional employees.

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Ready to bring your startup to the next level? Apply to MassLight’s next batch. MassLight supplies capital and a dedicated tech team. We take equity in return. Have questions? Refer to our FAQ page.