Getting the ball rolling for your startup company will already be a challenge in itself, but falling victim to the damaging myths floating around out there will only make your journey harder. Below are 5 myths paired with pieces of advice you should translate for your own business:
- “It’s essentially impossible for a small company to compete with the big and bad companies.”
Wrong-o! Rather than compete on cost, you should stay focused on your own business goals and stay committed to your product expertise. Pay attention to the big name brand companies’ downfalls and use that to your advantage, because that’s your ticket to propel your company towards success.
- “Always take short cuts and quick wins, if it helps you get ahead of course”
Yeah, no. Your company’s work ethic should be quite the opposite actually. If your team takes a long-term approach to the market, they’ll quickly realize that there are no quick wins – and that is the mentality that will helped you get ahead.
- “No matter what, your growth will plateau.”
Don’t ever settle. Keep setting new goals. Work through the downfalls. Push your team and company to hit new unimaginable success. Your will only plateau if you allow it.
- “It’s not possible for your company culture to stay the same throughout growth.”
Company culture is important and should be looked at with a long-term approach. In order to keep a company’s renowned culture intact as they grow, keep the values and company ethos that you had from the start. Always encourage and be open to accepting employee feedback to keep employees engagement, as well as loyalty the same.
It’s not an easy task to grow and expand, but just as they are a lot of companies that don’t make it, there are a lot that do! hard to grow and expand. That’s why many companies don’t make it. A lot of companies look to other success stories and try to model their plans similarly. But, every company is different and all approaches must be tailored to the specific business goals set out from the beginning. Stay flexible, stay consistent, and keep going.