Any business venture begins with a mix of anxiety and excitement. Those heightened emotions can cause you to miss crucial details as you look to launch your new staffing startup. Having a comprehensive checklist will keep you on track as you go through the process.
Startups fail at a frightening pace. Estimates often put the failure rate at 90%, with most of those happening between two to five years after launch.
Theoretically, that gives you a year or two before you hit that success-defining critical moment. However, many of your pre-launch decisions set the conditions that decide your ultimate fate. Getting things right at the start will put your staffing startup on firm ground.
Just look at the list of reasons most businesses fail. Many of them can be sidestepped with a good initial plan. These include potential pitfalls like misreading the market (leading to failure in 42% of cases), not having the right team in place (23%), not having a strong enough business model (17%), and mistiming the launch (13%).
This puts a lot of weight on that pre-launch checklist. Here are a few things you may have overlooked as you get set to start your new staffing venture:
Six Pre-Launch Checklist Items Your Staffing Firm May Have Forgotten
Stay Organized about the Details
You face a lot of bureaucratic details when you launch a new business. It’s easy for some of these to get lost in the rush. Stay organized and make sure you take care of every important point.
This includes steps like:
- Perfecting Your Business Plan
- Double Checking Your Paperwork
- Ensuring Government Compliance
Put Your Founding Team Together
When you start a business, every dollar matters. Having the right team in place can make the difference between success and failure. They will provide the efficiency and innovation you need to compete.
As such, make team-building an early priority. Scrutinize every staff member and consider your team-management strategies. Getting the most out of your staff will be central to your early success.
Perfect Your Branding and Website
Figure out how you want your staffing firm to be perceived. Fine-tune your branding accordingly. From your name to your logo to the structure of your website, every detail needs to complement your presentation.
Don’t forget about social media. This forms an important aspect of your brand. Figure out a strategy to get the most out of these tools.
Create a Detailed Marketing/Sales Strategy
How will you win new clients? In many ways, this is the fundamental question for any staffing startup. Before you launch, have a well-crafted plan in place.
Know how you’ll connect with potential new customers. Also, understand the message you want to deliver. Work out your best selling points and the optimal way to get that pitch into the world.
Connect with Potential Candidates
As with any staffing company, you need a two-pronged marketing approach. Yes, it’s crucial to find clients. But you also need to attract the best candidates in the areas you service.
Create a comprehensive process for enticing top talent. Explain your competitive advantages and how your startup will shake up the industry.
Also, listen to the candidates you meet. Be ready to tweak your process based on feedback. This will help you improve over the long term.
Build a Relationship with Financial Partners
As you build your business, you’ll need access to additional resources. You’ll need a financial cushion to handle bumps in your cash flow. At the same time, you’ll want funding options to fuel your next expansion.
Looking for a Financial Partner? Frontline Funding Can Help!
Get this important support from Frontline Funding. You’ll have the connection you need to secure all your funding needs.
Contact Frontline Funding today to build the perfect support system for your staffing startup.