10 Business Tips for Startups

 Image by Karolina Grabowska from Pixabay 

Here are the ten business tips for startups. 

1. Start with Why. If you are already in business write down the reasons or purpose of your business. Why are you in business? What niche area you are serving? What are the pain points that you intend to solve? How your business would address specific issues.
2. How you are different? Explore the businesses in your domain…the competition. What are they doing and what are their marketing strategies? What is the USP of the products in the market? Have you innovated?
3. Strategy to Excel: Compare your product/service or offering vis-a-vis the competition. How it is or going to be different from others? Are you building into your system some ease-of-usage, better turn-around-time, or improved quality with same or less pricing? What shall be your USP?
4. Design Excellence: Is there an improved design? In product, packaging, delivery, usage experience?
5. The Team: Do you have the team on board which are not square pegs in round holes.? People matter. Having the right team for each process is essential.
6. The Right Resources: Do you have the right financial resources to implement your plan, your ideas, and innovation? Who shall be providing the resources for your success? What kind of partnerships you shall evolve?
7. Do you know your customers? What are their psychographs and demographics? What are their preferences? Why should they be using your product? How do they make their choices?
8. What is the market size you intend to cater to? Local, national, or international?
9. Your Business Environment: Your organisation is affected and impacted by the business environment; be it government policies, economic or political situation, social or cultural considerations, international trade, etc. Are you aware of it as to how you can operate within existing business environment?
10. Communicate: List out all your internal and external stakeholders who matter to your organisation, your product or services. Be specific and develop communication strategy that resplonds to their needs, and which can influence them positively and create a favourable image for your organisation / brand.
    
    These are just some of the tips that a business management pro should look into. These may not be complete, but 10 most crucial pointers to start with for any startup, or an existing organisation. 

How to Elevate Your Startup with PR

Emboldened and inspired by the 'Startup India' many startups are emerging, and youngsters especially, are enthused to setup their own enterprise.  At the early stage, the promoters are more concerned about their product, streamlining operations, hiring the team, and looking for funds to give wings to their ideas. 

However, in all this exercise, PR - the Power Tool to empower any organisation, remains ignored, and those who consider it, keep it on the back burner, since it holds the least importance in the initial stages.

How can PR help a startup grow?

BUILDING BRAND 
The moment the founders conceive the idea, the role of PR starts to help them define the organisational's mission and vision.  They can help in getting the visual identity of the organisation created effectively which can communicate the concept to diverse audience.

INTERNAL INTEGRATION 
Integrating all stakeholders within the organisation is the first step that PR professional can help put together by establishing robust internal communication channels, both formal and informal, for complete transparency, and keeping everyone on the ame page.
Shared goals contribute to the internal strength that gets projected to the external stakeholders strongly paving way for startup's growth.

EXTERNAL IMAGE MANAGEMENT
Every aspect of the branding for consistent reproduction and projection needs expert imaging specialist as also take care of the communication needs of external stakeholders, be it collaborators, technology providers or knowledge partners, financial institutions and individual investors, government institutions and academics, to name a few.

Every group's communication needs to be strategically designed to achieve the desired objective.

MEDIA MANAGEMENT
One of the significant partners for any organisation is the print and electronic media.  Though most founders are young and social media savvy, the importance of print, radio and television channels cannot be discounted.   Even in the print categories, there are dailies as well as vertical or industry specific periodicals that need to be targetted to share your story.

The PR professionals work with the startups to provide them media exposure as well as design opportunities for them to showcase their story through speaking assignments in professional conferences, social clubs, community meetigs, etc, that also adds up to some media coverage.

Good stories published in media also gets public support and supports talent hunt.

FUNDING
Getting the startup founders ready for pitching and presenting to the investors is another key area where properly pitched stories make a difference.  All the buildup through marketing communication, media coverage portfolios, help in generating investors' confidence in the startup.

Engaging PR agency or professionals right from the very beginning can only change the entire scenario for a startup. 

The Golden Triangle: A New PR Model

With rising scams, white collar crimes, and the PR practice coming under cloud for its role in disseminating false or inaccurate information amongst the stakeholders, the question of ethics, though discussed extensively at various fora, somehow has remained at the backburner amongst PR practitioners (though not all).
The Global Forum for Public Relations organised the National Roundtable at Mt Abu on 13th September and various speakers analysed the situation and Editor of PR Voice, Dr. C.V. Narasimha Reddi, who evolved the PR model for excellence in its practice, the Golden Triangle, was unveiled.
Rajyogi BK Karuna ji opened the discussions with the need to create a great India which can be achieved only through infusing spiritualism into PR practice.
Dr. Reddi lamented the fact that in our country PR practice has yet to acquire a status of a profession because of the absence of proper syllabus, text books, accreditation, and regulating unethical practices.
Following ethics and spiritualism by PR practitioner alone can bring about the desired change, he said.
The new model, Golden Triangle, promotes integration of Professionalism, Ethics and Spiritualism into the PR practice,in order to take it to the next level of excellence.
This is definitely a big challenge for each one of us to meet, yet imbibing spiritualism in PR practice is not a difficult task since it requires a PR person to be considerate, affectionate, and genuinely concerned about the welfare of other beings, said BK Sarala Anand, Manager HRD and PR from BHEL, Hyderabad.
Prof. K.C.Mouli, faculty at MLCN University of Journalism, Bhopal highlighted the instances in the government where PR practitioners have to succumb to the pressure from their superiors, but only a professional can put the things in right perspective in case he is courageous enough and understands his ethics.
BK Binny gave new perspective to the discussions saying that PR has a synonym in 'pyar', the spiritual factor that makes the difference.
Prof Ananya Mehta from Symbiosis Institute of Media and Communication, Pune, commented that though ethical practice in reality may be at stake, the values are being reinforced amongst the students right in the classrooms at Symbiosis.
Rajyogi BK Sheilu said that spirituality gives strength to face ethical dilemmas but one can resolve them by having a more holistic and long-term view of the outcome than the short-term.
I too had the opportunity to share my views on this subject which is very dear to my heart, which I shall be sharing with you later in a separate post. Overall, the interaction did brought an entirely different perspective and was an eye-opener, said one of the participant from Pune.
CJ

PR Challenges to Outshine Brand & Business

Goa Chapter of PRSI is organising a one-day workshop on "PR Challenges to Outshine Brand & Businesses" on Sunday, 18th March 2007 at the Goa Chamber of Commerce.
For further details please get in touch with Mr. Rajesh Parida : rajeshparida@goashipyard.com, or call him on 098239 20469.

Empowering Citizens through Consumer Protection Act

After the Rights to Information Act, it is now the turn of Consumer Protection Act, 1986. The government has initiated a big move to enlarge the scope of the Act where any consumer can approach it for deficiency in services, even those relating to the public service utilities, and seek redressal. This is to empower the citizens further to seek quality service and even restraining the service companies like the mobile companies, from sharing your data with others for commercial purposes.

This throws a great challenge for the public relations practitioners in every organisations, who must prepare themselves to conduct regular internal audit for the services their organisation offers to their consumers and set up early warning systems for possible fallout of any deficient or incomplete service.