How to solve growing pains of a startup company
Growth, Team, Culture-- In Person Connection
One of the biggest growing pains for a startup company is figuring out how to make money (or at least not lose all of it!). When you start a new business, you need to make sure you have enough money to cover all your expenses, AND keep the lights on! This means you need to find customers who are willing to pay for your products or services. Finding those customers can be a real challenge. When you’re just starting out, nobody knows who you are or what you do. This means lots of marketing and advertising, and it can take a while before you start to see results.
Startup Growth Pains
Suddenly – you’re FINALLY there – you’ve made enough money and gotten enough customers to really GROW. If you’re lucky, your company will take off quickly, and you’ll be flooded with orders and requests. But this can be overwhelming! You need to figure out how to handle all this growth, without getting too stressed out or making mistakes.
Team Growth Pains
One way to manage growth is to hire more people. But this can be tricky too! You want to make sure you’re hiring the right people for the job, and that you’re not overextending your budget. And you also need to make sure that your new hires fit in with the culture of your company.
Startup Culture Pains
Speaking of culture, that’s another growing pain for a startup company. When you’re just starting out, your company culture is still developing. This one, at least, can be easy to solve! Many growing pains for small businesses come back to company culture. Why? Because it’s WHO YOU ARE as a business. Your company culture says so much about you: what you value, what you’re willing to do to succeed, and how you are different from other similar companies. If you have no company culture, customers see right through you and immediately forget you. No one wants to be forgettable!
So how do you FOCUS on company culture? You’re thinking about getting customers, growth, and hiring more people… Once you’ve gotten to this point, a COMPANY RETREAT can really do wonders. Think about it – how can you QUICKLY and EASILY get everyone on the same page? How can you QUICKLY and EASILY build the type of team morale that YOU want? Don’t leave this to chance. It can take months to build a solid team only to have employees quit and new ones come on, so you have to start ALL OVER again.
Solution: In Person Experiences
On a company retreat, even for very small companies, you get your employees on the SAME wavelength as you. Afterward, everyone is in tune with each other, so you’re able to flow through normal business easily AND are prepared to handle emergencies better. Think about it: if it’s all hands on deck due to a late order or mistake, will it get handled quicker by employees who trust each other or strangers? DING DING time’s up! That’s right – the employees who trust each other will ALWAYS complete a task faster than strangers. If you’ve built your company culture based on trust, you’ll be ten steps ahead of the competition!
Finally, one of the biggest growing pains for a startup company is dealing with failure. No matter how hard you work, no matter how good your product is, there will always be setbacks and failures along the way. Set yourself up for success by building the core of your company, your COMPANY CULTURE, the way you want it from the very BEGINNING. Don’t be afraid to take risks, but plan ahead for as much as you possibly can!
Conclusion
In conclusion, starting a new company WILL BE both exciting and challenging. A startup company faces many growing pains, from figuring out how to make money to managing growth to dealing with failure. By focusing on building a solid company culture with the help of company retreats, you will set your company up for the most possible success.
Want to learn about what a company retreat and why a retreat should be your next company investment– Check out this article
Wondering if a company retreat is right for you?? Let’s talk through it! Whether you’re at the very beginning of building your company or the CEO of a major corporation, we can help plan the best possible retreat for you!