5 Things Almost Every Startup Forgets

We understand. When you make the decision to launch your startup, you go in with guns blazing. But, while you might be charging in full speed ahead, what are the things you’re forgetting to take into consideration?

We have a list of things you might have forgotten.

1. Your budget

Okay. You probably spent a lot of time preparing a business plan and gathering information for your presentations, but have you really scrutinized the budget? Have you considered all the expenses? There are always costs you haven’t taken into account. The best way to deal with unexpected budget upheaval is to leave a little wiggle room. If you’re not the kind of person to waste time with the fine-tooth comb, make sure you leave some extra money around just in case.

2. Your management skills

For some, management skills come naturally. They instinctively know how to handle all their employees. In case you aren’t that person, take some time before you start hiring people to research some management styles. When a startup is right out the gate, it’s hard to focus on everything at once. You’re just getting into the rhythm of things. Don’t let management get out of hand. Check in with your people. Don’t ignore your employees.

3. Delegate

Like I said above, some people have natural management skills. If they work for you, let them manage. You can’t be around all the time. Make sure you have a chain of command that doesn’t rely on you being around all the time.

4. Office Space

Are you ready to move into an office? If you want people to take the seriously, you probably need to get out of the garage. Before you jump at the first cheap office space you find, do some research. What kind of neighborhood is it in? What does your office look like to someone coming in from the outside? Make sure that office space ends up in the budget.

5. Stay true to yourself

When companies and startups start to grow, they oftentimes lose sight of their original purpose. Your company should evolve naturally, but, now and again, take some time to see where your headed. You should stay on top of your mission statement. If it needs to change, change it. If it should stay the same and you’re diverting, pull it back on track.

What did you forget when you launched your startup? What do you have to remind yourself about? Share in the comments!

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Posted on May 26, 2014, in Biz Tips, Entrepreneur, Small Business and tagged , , , , , , , , , . Bookmark the permalink. 2 Comments.

  1. Staying focused is often hard to do. But maybe the most important. Thanks for the helpful reminder.

  2. It’s often hard for a start-up owner to delegate responsibility, but it’s a must if you want to grow the business.

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