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5 Tips to Manage A New-StartUp

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Owning or managing a new-startup will exhaust the founder’s energy.

There are six startup tips below that the founder and managers can take to manage tasks and busy schedules.

As a new-startup’s owner, we all know that there’s all kinds of work that needs to be done. For example, managing projects, client satisfaction and expectations, marketing plan, handling finance, there’s no end to us to-do list.

Everyday, thousands of people are thinking up new ideas for a new-startup. The marketplace is full with startups. It forces all of the founder not only focus on differentiating their product, but also keeps pace with the daily routine tasks.

Thus, if the founder hope that the startup can grow faster, they can take these six actionable items in order to improve the efficient.

1. Set project management standards

The best way that a founder use to grow the startup is to apply new established project management methods. PMI’s Project Management which is a application of skills, tools and techniques to project activities to meet the project requirements. It can help startups set a high standard of project management excellenge right out of the gate.

This can make sure that all projects can follow the proven best practices. Thus, it can help company identify and meet business requirements, reduce waste, optimize the use of resources using and allocation as well as raise the chances of achieving goals.

2. Set realistic client expectations

A new-startup can not survive without any profit. So, the new-startup must put the potential customer or their client first.There are lots of competitor in the marketplace. So if the newstartup don’t take care of their clients, the client will simply choose another company to purchase from.

To manage client expectations, the new-startup have to fully understand their needs, conduct a effective frequent communication and set realistic expectations about how it is going to meet the client’s needs and wants.

3. Create a process documentation

It is not enough for just developing effective internal business processes. Thus, the founder can develop a written documentation for those processes provides all employees with the standard what they need to follow and do, removes inconsistencies, and reduces instances of error and confusion.

The process documentation is readily important for the employees, especially for new employees. It reduces the need for excessive training and increase their working efficiency. The process documentation not only helps to set expectations around how to complete tasks, but also why.

4. Identify opportunities to learn from frustration

As a new-startup, it is difficult to avoid the setbacks from everythings. However, it is actually good for the business team because It means that they have the opportunity to learn from the mistakes that are made.

Typicaly, the major key to learning is first accepting that mistakes. After that, establishing a team culture which encourages learning for growth rather than punishment.The team can record down the mistakes and let relevant people to think and identify the best solutions going forward.

 

5. Remain open-minded to new ideas and change

It is dangerous for a founder to refuse any new ideas and change. If we have any new ideas and opinion, we can ask our team or a trusted third party for their opinion and suggesstion to help us make the best decision. In addition, the founder may always prepared to delay or decline to move ahead with an idea if it appears to be more downsides than benefits.

New-startup usually have lots of the tasks, but the company’s resources is limited. We can make sure that the we understands the customer and also learn from the setbacks. Furthermore, the founder has also the right tools and documented processes, and keeps an open mind about opportunities and potential changes.

 

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Content source: https://www.techrepublic.com/article/how-to-manage-a-startup-6-tips/

Prepared by: Wen Xuan

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