Doug Johnson, Executive VP of Professional Growth Systems, is joining our blog this week. He has great interest and passion for start-ups, so wanted to share some keys start-ups need to address when beginning their journey. He writes:
There are three critical elements that a start up company must address to insure success.
The first element is the product or service. What is it that you are delivering that a customer would appreciate having (that they don’t already have) and be willing to pay for?
The next element is promotion of this product or service. How will you take it to market, insuring the story is heard, connecting with customers ultimately resulting in sales?
The third element is finance. In particular the ability to make accurate financial projections, keep accurate and timely accounting while developing a financing structure that allows the business to grow.
Doug plans to take each of these three critical elements and expand on them in the months to come. Next week he will target the product or service for a start-up. If you have questions specific to start-ups and how any of the above should differ from an established organization, drop Doug an email. He would love to get into a conversation with you and help you move forward in your own organization.