How to Keep Up Your Startup’s Momentum

During this time of uncertainty, many are faced with a problem that hasn’t ever occurred in the modern world; a world-wide shutdown. It can be especially frightening to the Chiefs at the helm of a Startup company.

Two weeks ago, I was taking calls at our call center at Fundpire. Just to give you a brief description of what we do; Fundpire is a platform that matches startups with investors. That said, we speak to startups from over one hundred industries in approximately 60 countries. Anyway, after a few hours of fielding calls, I had realized that our call center had turned into a crisis hotline for frantic founders. I felt like a doctor working overtime in the ER, at a state hospital, handing out prescriptions to serve as bandaids to bleeding startups. Locked in our chairs for hours, my team and I tried to answer every email and take every phone to help as many founders as possible.

Even though these times are rough and unsettling, there are tools that I’d like to share that can help you stay the course as you continue to manage and run your business operation.

Last week I followed up with several of the founders who had contacted our call center at the onset of the Pandemic. Here are some of the remedies I shared with them that have helped startups stay the course.

Get in where you fit in. “Repurposing” or changing your product menu and redefining your service to meet the demands of our current economy and world situation can serve you greatly.

Focus on the essential industries that are working overtime to provide the world with food, fuel, logistics, domestic services, consumables, healthcare, medical equipment, and medicine.

Customers always come first. Keeping a customer-centric culture during this Pandemic will go a long way. Focus your energy on past, present, and potential customers.

A phone is a powerful tool. Get on the phone with them, listen to them, and let them know you care. Putting empathy into action will only strengthen your relationship with your clients and turn prospects into customers. They want to know that you are going to be one of the many pillars they need to support their business.

Reach out to your market with valuable messages. You may find it difficult to advertise right now. Unsure of how to speak to your audience. But even when it seems like there’s no right thing to say, good startups still find ways to be relevant to their customers and attract more clients. There is a fine line between being helpful and being an irritant.

One startup that has had a lot of success in this time is one that saw the value in providing useful information to their clients. There has been a recent surge in people subscribing to news journals and outlets more than ever. Reassurance is in demand.

Money talks. Offer valuable discounts to your clients. Your clients will remember the concessions you pass on to them. This also motivates them to make recommendations.

Now is the time to pay close attention to your company’s cash flow. When it comes to payables, cut costs on expenditures without compromising quality, efficiency or value.

If you need financing or additional rounds of funding, visit the SBA.gov to select a funding option that is right for your business. Fundpire is also offering discounted fees on services for finding investors.

There is no shame in asking for help from friends and colleagues when you need it. We are all in this fight together to keep up the moment.

Thank you for reading! If you enjoyed this article, feel free to read similar articles I have written.

How to Keep Your Small Business Operational during a World Crisis

Is Your Start-Up Poised for Long-Term Growth?

The Secret to Creating a Bull Portfolio in a Market Downturn

© Gena Vazquez 2020