CEO Tips for Businesses That Have Less Than 12 Months on the Market
6. "Find mentors", Marcos Iran Herrera Mendoza, CEO of The Mx Code Solutions SA de CV.
Testing the model, validating the team, perfecting the product and generating clients are just some of the essential tasks to perform during the first year to establish and grow your business.
That is why, if your venture is going through this early stage, I invite you to read 15 tips shared by CEOs for businesses that have less than 12 months in the market . Take note and apply them, they will be very helpful to move on to the next phase.
1. “ Do not be discouraged ” , Johanna C. Ángel-Reyes , CEO of Acacia 360º
It is a very short time to achieve results. In our field, culture and arts management, it is very common for projects to be abandoned early. Conscious planning must identify that, being less than 12 months old, businesses are still infants.
2. “ Focus on finding clients ”, Alan Miranda, CEO of Digital Lab Agency
Focus on finding more clients to validate the business model. That will allow you to get to know them better.
3. “ Assemble an advisory council and validate the Product-Market-Fit ”, Marcelo de la Garza Clariond, CEO of Gesta Labs
Look for people with varied experience, who are interested in knowing more about the business and adding value with their experience. Validate that they have reached the famous Product-Market-Fit . In short, what they offer is aligned with market demand. Be very honest in answering, and make the necessary adjustments to align it and facilitate the sale.
4. “ Focus on a specific niche in your market ”, Ivan Lozano, CEO of Talentum
Define who your customer is and focus on a specific niche in your market. Talk to your clients constantly. Focus on quickly validating if they would pay for your product or service, even before you can have the final product developed.
5. " Launch the product to the market as soon as possible ", Rodrigo Saavedra, CEO of SV Links Angels
Launch the product to the market as soon as possible. Launching the product, even if it is not the latest version that the team wants, is the only tangible thing and what is going to give you results. In this way, the company can improve the product, based on direct customer recommendations and, thus, build the perfect product. Another very important tip for the principles of a startup is to surround yourself with the right people and team.
6. “ Look for mentors ”, Marcos Iran Herrera Mendoza, CEO of The Mx Code Solutions SA de CV
Seek the advice, support or mentoring of people who have gone through a similar path to yours, their advice is invaluable to have a better growth.
7. “ Investing in the business ”, Nestor Patraca Martínez, CEO of Germina Consultoría Patrimonial
Investing wisely is the best weapon you can have when starting a business. Investment of human resources, social networks, advertising, always making noise and generating reaction in people.
8. “ Analyze the achievements of those months ”, Javier Alejandro Gómez Sánchez, CEO of Corporativo G2
Analyze the growth, interest and sales of these months, this will allow you to develop a plan to reorganize and make decisions. If you have been successful, or even some progress, analyze what formula allowed you to achieve it and try to enhance it. "
9. “ Patience ”, Ruben Ariff Alatorre Bernal - CEO of AlfonsoMarina
Patience, great results take time, determination, and a high level of focus. Be objective in your analysis and sincere with the project, there must be authentic added value that differentiates itself from other companies, and provides a solution to a market need.
10. “ Working together ”, Fernando Alanis Espinosa, CEO of SATI
It is one of the most difficult stages, you must overcome the valley of death. And this is where partners and collaborators have to work together to move the startup forward. Seek organic growth, reduce the greatest amount of costs and take advantage of the benefits that organizations, incubators and accelerators can give you.
11. “ Planning and structuring resources ”, Ricardo Quevedo H., CEO of NeuroClase
Plan and structure resources, both monetary, assets and human. Develop a sales plan for the next operating year, replicate the activities that enabled growth and achievement, and inquire about how to expand into the third year.
12. “ Generate demand ”, Nelly Vazquez Jimenez, CEO of Womcy México
Focus your efforts on generating demand and making yourself known in your business niche. Execute your distribution, manufacturing, guarantees and human capital plan to the letter, and ensure that your collaborators are your allies, that they recognize the quality of the service or product they offer.
13. " Incomodarse ", Carlos Calderón Cosío, CEO of Proactible
Be upset, the development of performance metrics is important, the business may not work on its own. It involves a good follow-up, which allows you to see how you are progressing and to improve as necessary.
14. " Do not grow at any cost ", Luis X Barrios, CEO of Arkangeles
Don't grow at any cost and stay focused on getting to know your customer better to make sure you meet their needs repeatedly. Finding that product / market affinity, creating a factory of happy customers who return again and again to consume your product.
15. “ Validar ”, Juan José Weibel - CEO of Drow Equipamientos
Validate, validate and validate. The first year is for that. Once the business model has been defined in a hypothetical way, you have to go out and validate it completely. First: the customer, the problem, and the value proposition.
As you can see, this first stage will demand a lot of effort, time and dedication . Likewise, it is quite likely that not every day will be good but, as Ernesto Veraza , CEO of Tukan , advises, “ use good days as reserve gasoline for bad times and do not be discouraged. Motivation and perseverance are the most important factor for your business to grow. "