When you’re considering founding your own company (or if you already have), there are likely many ideas running through your head. No matter how confident or experienced you are, there’s always more to learn. Even the most business-savvy entrepreneurs can benefit from implementing some best practices for founders!
With that said, this article will go over five of the most effective tips for founders looking to grow their businesses.
Tip One: Learn From a Mentor
Successful founders often achieve that success with the help of advice and guidance from someone who has been in their shoes before. If you haven’t considered mentoring, you should think about seeking an expert who has experience founding their own companies. Regardless of your confidence level, you will discover many of the best tips for founders by asking founders themselves!
A 2014 study conducted by UPS showed that small businesses that utilized mentoring survived for double the time that small businesses that had no mentoring. Having someone there to coach you does not take away from your own business skills or mean that you don’t have what it takes to succeed.
Heeding advice from someone who has been in your place before is a sign of maturity and a willingness to grow. Acknowledging potential shortcomings in your company that you might not have considered before improves your chance of success.
Tip Two: Spend Time Hiring
Your company won’t achieve the success that you’re hoping for if you don’t prioritize hiring others. Founders often struggle with hiring because, while you ideally want to hire people who are already experts in what your company does, finding these people can take a lot of research and effort.
It’s often best to begin hiring for your business as soon as you can—delaying this process can set your company up for failure before it has a chance to take off. Even if you think you should focus on other areas of your company before you hire, this mindset can have significant consequences down the line.
Once you’ve built your team, you need to stay connected with them through productive meetings. Docket’s numerous features can ensure the success of your meetings as it keeps track of growing teams, helps you stay on top of meeting agendas, and makes it easier to catch up on any missed meetings.
Tip Three: Have Trust in Your Ability to Manage the Unknown
First-time founders are often held back from achieving everything they want because of their fear of the unknown. Though it is natural to consider your company’s future, you should not let the fear of failure hold you back from the chance for success.
As your business grows, you will have to become comfortable making important decisions for your company’s success. Learning to trust your instincts is one of the most important things that founders can do to encourage positive change within a company.
For founders struggling to make a decision based on the information available, Docket can help you manage your info and gain valuable insight that can speed up decision-making.
Tip Four: Don’t Commit to More Than You Can Handle
While you should always stay motivated and determined when developing your business, many founders have fallen into the trap of taking on more than they can handle for their growing business. It can be hard to turn down projects or push tasks to the wayside, but it’s better than stretching yourself so thin that nothing gets your full attention.
Be realistic about what you can reasonably handle, and remember tip #2: hire people you trust early on so you don’t have to do it all yourself!
Tip Five: Strive to Maintain a Positive Attitude
Founding a successful business is much easier if you have a team you can rely on. However, once you find these people, you need to give them reasons to stay and provide a pleasant environment in your workplace.
Having a positive attitude when you approach your work can motivate your employees, meaning that you will get higher quality work done in a shorter period of time. In the same way that you don’t want to hire people who have a poor attitude, people won’t want to stay at your company if your attitude is negative.
Final Words
First-time founders can boost their chances of success by looking to tips from experts who have been in their position before. Though founding your own business isn’t a quick process, looking at tips for founders can help guide you along the way.
Building a good foundation for your business means that you need to have plans for future success, which will primarily rely on maintaining an organized team. Using a meeting intelligence platform like Docket can make the process of growing your startup straightforward by creating an environment of collaboration and positivity for everyone helping your business grow.
