by Calvin Cox on April 13, 2010
You’ve been working for 3 years and you haven’t made a dime! Your web designer is the only one who’s making money! The IRS considers your business a hobby! You still don’t know who your customers are! Your elevator pitch changes every time you give it! Your accountant does your taxes for free! Your friends constantly ask you… so, what exactly do you do again? And your wife is wondering when you’ll get a full time job. If this is you, IT’S PROBABLY TIME TO END YOUR STARTUP.
You can decide to take control of your business. Decide whether this is something you really want to do. Perhaps your commitment is not there because you’d rather be doing something else. However, if you’ve figured out that you are indeed passionate about your product or service, you must find out if there is a real need for what you’re offering.
It’s no longer “build it and they will come”, it’s now “build it with them and they will stay.” If there is a real need, then you might want to take a closer look at your brand design or branding strategy. Why aren’t you connecting with your customers? Maybe your business model needs to be adjusted. Sometimes it may not be the product itself but the price. Or it may be your call to action on your website. Maybe you are targeting the wrong demographics or perhaps your branding does not appeal to your audience. My recommendation is this: Step back from your Startup, forget all the time, money and effort you’ve already invested (I know it’s tough) and take a long hard look at your product or service, and find out if there’s a real need there. Once you’ve established that there’s a need, you can move on to effectively targeting your market.
Given the state of marketing and advertising today, most small business sales and marketing efforts are focused online via their websites. I’m currently writing an eBook, The Website Design Guide For Startups – 7 steps to finding the right designer for your Small Business. It should be completed this summer. You can be notified and receive a complementary copy when the book is released by clicking the link below (This offer is only good for the first 100 readers that sign up). It will help you flesh out your sales and marketing ideas, get you thinking about your business branding strategies and provide some step by step guidelines on finding and hiring the right web designer for your Startup.
Please feel free to share any additional advice you can give young entrepreneurs and Startup companies that are at the crossroads of… Should I keep going or should I end my Startup?