Start-Up Survival Guide to the Holidays

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Start Up Survival GuideBeing in business is tough work. Start-up businesses have an additional challenge: how to keep growing while trying to stay afloat especially through the traditional Australian holiday period of late December to mid-February.

With that in mind, here are some tips to stay ahead:-

  1. Conserve credit! Lay off on unnecessary spending well before December.
  2. Be ready to grab new opportunity. Don’t be scared into retaining all your credit and never spending a thing. Watch the markets and go where they go.
  3. Keep some reserves to move into new markets should your start-up not be growing as it should. Ask the hard question consistently – is your start-up market assumption still valid?
  4. Don’t rely on advertising. If your start-up relies heavily on advertising revenue, don’t exclusively expect it to keep your business afloat. When there’s less consumer spending, advertising declines.
  5. Consider selling to businesses. While it’s harder to sell to businesses than individual consumers, you’ll be rewarded with hopefully slower client churn and predictable margins.
  6. If you want to sell to a business, make yourself credible. No one will trust a start-up with little experience, so partner up. Join a business with proven sales experience. You’ll probably give yourself a better chance of selling your products or services than if you worked on your own.
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