A successful startup is more than just a brilliant product brimming with innovation. It takes a holistic approach to grow your startup into a scalable business, which is easier said than done if you’re new to the tech scene and without prior entrepreneurial experience.
With Tech in Asia Singapore 2017’s Startup 101 stage happening this May 17 & 18, you can fast track your startup journey by riding on the past experiences of topic experts and entrepreneurs who have been there, done that. They will be sharing practical advice and critical long-term management best practices – you’ll want to grab a pen and take some notes!
Below is a continuation of the sneak preview of topics that will be discussed at the Startup 101 Stage.
See: Startup101: Blueprint for startup success
Choosing the right corporate partner
Establishing rapport with your business partners is essential for a harmonious working relationship, as it can make or break key decisions. Hence, it goes without saying that you should choose a partner who shares similar work values and vision.
That said, there is also value in diversity. Find a partner who complements your skill set and is different enough to spark positive tension for the working relationship. But when opposites attract, it is a two-way street. Ensure that your innovation also adds value to the bottom line of your partner’s business.
Scaling your business regionally
Where market expansion is concerned, speed is not always advantageous. Depending on the state of your target market, it may be wiser to wait for a suitable window of opportunity when demand for your product emerges before executing your expansion plans.
Always perform due diligence, especially if you’re entering an unfamiliar market. Understanding the local market is the first and essential step towards expansion. Also leverage on local contacts to understand the legal implications of setting up shop, since each country operates on different tax structures. Doing your homework will give you the necessary data to adapt your business strategies accordingly.
Shaping your company culture
Creating your culture is like writing on a blank paper – it begins with setting the tone and direction. Start by defining and articulating your business purpose. While seemingly superficial compared to other important business metrics, it will be the bedrock of your company when it grows in size and complexity, and you will thank yourself for investing time into building a great culture right from the onset.
It’s also good to establish a set of core values to guide the “do’s and don’ts” of your business behaviour and hiring process. Note that hiring for cultural fit does not equate to recruiting candidates similar to your employees. As long as they have a shared understanding towards the company values, it is evidence of a dynamic culture in the making.
Crafting a winning PR strategy
Your business idea may be full of potential, but it will not sell if word does not get out to your stakeholders. Capture the public eye with compelling PR storytelling consisting of three key ingredients: product, purpose and passion.
You need to convey your USP clearly and show how it fulfills an actual need. It’ll also pay to start early and research on the profile of the media personnel you are speaking to; no journalist will appreciate being force-fed information that is not within their field of specialisation.
Build your success story on the right track, with the right help!
A lot of hard work is poured into building a business. To ensure your hard work pays off, take a strategic approach and not just work hard, but work smart too! Get started on the right foot by learning from industry experts who will be sharing their experiences and practical strategies at Tech in Asia Singapore 2017’s Startup 101 stage this May 17 & 18.
From now till 28 April, 11:59 PM (GMT+8), you stand to shave 10 percent off your conference pass when you use the promo code ‘tiasg10’. Grab yours now to gain the most out of this popular expert stage!
Tech in Asia has updated their conference agenda page. Head on over to find out more about the stage sessions and speakers you’ll meet this May 17 & 18.
This post Startup101: Setting the stage for success appeared first on Tech in Asia.