Running a startup business is never easy, but if you’re happy with how you’ve started, you might already be starting to wonder about what comes next. But, unfortunately, you can’t stand still for too long in the world of business. If you want to go further and achieve more, you need to step up and reach that next level. Here are some of the ideas that could help you to make that happen.
Appeal to Investors or Consider an IPO
If you want to take your business to a new level and achieve new things, you might need a little capital to make that happen. That’s where external investors come in. If they like what you’ve been doing up to now and they like your vision for the future, they might be willing to back you. In addition, you might want to consider an IPO so that the company is traded publicly. That can raise a lot of money.
Crowdfunding
Regulation Crowdfunding enables eligible companies to offer and sell securities through crowdfunding. The rules:
- require all transactions under Regulation Crowdfunding to take place online through an SEC-registered intermediary, either a broker-dealer or a funding portal
- permit a company to raise a maximum aggregate amount of $5 million through crowdfunding offerings in a 12-month period
- limit the amount individual non-accredited investors can invest across all crowdfunding offerings in a 12-month period and
- require disclosure of information in filings with the Commission and to investors and the intermediary facilitating the offering
Securities purchased in a crowdfunding transaction generally cannot be resold for one year. Regulation Crowdfunding offerings are subject to “bad actor” disqualification provisions.
Invest in Your Team’s Talents
Most startups begin with a pretty small team, but they grow and advance in new directions. You can help your team succeed by investing in their talents and offering unique training opportunities. On top of that, you might want to invest in the group by bringing on board some new people who provide skills that are currently missing.
Work on Industry Compliance
If you want to make sure your business is always taken seriously, one of the best things you can do is make your business compliant and fully verified with the relevant industry bodies. For companies in the financial services industry, GIPS compliance might be something to explore. But, of course, the approach you take will depend on the kind of company you run and where you’re based.
Expand Your Marketing Efforts
How you approach marketing will significantly impact how successful your business can be in the future. It would be best if you had more people to be aware of what your company is doing and what you’re offering for them to take a greater interest. So if you haven’t made an effort to expand your marketing efforts recently, now is the time to change that.
Stay True to Your Initial Vision
Finally, it would help if you also remembered the importance of staying true to the ideas and vision that led you to create the business in the first place. Don’t get too far away from what your initial goals were. Of course, things change, and the company develops over time, but tapping into that original energy, passion, and drive can be valuable as well.
As you can see, you can take lots of steps when trying to take your startup business to the next level. Think about each one carefully, choosing the path fitting your personality and business objectives. And don’t rush into anything before you’ve carried out a cost-benefit analysis.
