3 Outside Resources That Can Help Your Startup

From elevator pitches to investor consultations, product development to social posts, a founder is thrown into everything and anything when launching a startup. It can be an exciting time, particularly as your initial thought for a business starts coming to fruition. You can be easily swept up in a particular aspect of the business that brings you joy. For some entrepreneurs that may be honing their offering, while for others it may be building an avid community on TikTok.

While it’s great to be passionate about a certain component of your business, you run the risk of neglecting other important areas. This is why leaning on outside resources can help your startup. Think of it as investing in your business. By hiring specialists, you can focus on your own strengths and passions while knowing the rest of the business is being capably handled. Below are three outside resources that you should consider hiring to propel your new venture.

1. Financial Aid

No, this isn’t referring to Grants and student loans. But like a young adult entering college, you are entering unknown territory when founding a startup. You have a concept and a vision for how you want it to work out, but you can’t predict the future. You don’t know where your business will be years from now, let alone the transformation it will have on your day-to-day life.

If you’re just starting out, you may wonder what kinds of financial hurdles you may need help with. First you’ll have to determine what type of business entity your startup will be, then open a business bank account. Additionally, potential investors will want to see a robust financial picture, including balance sheets, cash flow, and income statements. You’ll also need to predict future growth in an optimistic yet cautious manner. Hiring outside financial assistance can ensure you clear all these hurdles with ease.

2. Branding Consultant

The importance of personal branding cannot be overstated. While a branding consultant focuses on shaping your company’s external image, a brand consultant can assist in cultivating your individual identity within the industry. As a founder, you are not just the face of your startup but a representative of its values and mission. A personal branding consultant can guide you in crafting a compelling narrative about your journey and expertise, enhancing your credibility and influence in the business world. They delve into your unique strengths and qualities, helping you articulate a consistent and authentic personal brand that resonates with your target audience. By aligning your personal brand with that of your startup, you create a powerful synergy that can significantly impact your venture’s visibility and success. Whether you are engaging with investors, participating in industry events, or establishing your presence on professional platforms, a well-defined personal brand can set you apart and contribute to the overall success of your startup journey.

With your finances under control, you will want to get your business out into the marketplace. As many startup founders realize, this begins with good branding. Some of the most notable companies today — think Nike, McDonald’s, and Google — all have recognizable branding. Everywhere around the world, people know these brands from their logos. Even if your company evolves over time, you want to set out with strong, cohesive branding.

Hiring a branding consultant can make the difference between a fruitful launch and a dismal one. These consultants do more than just come up with an appealing logo. First, they analyze your market to see where your product or service fits within the competitive landscape. What sets your offering apart from those of your closest rivals? How does it satisfy the needs and desires of your target audience?

Once they’ve gotten a true sense of your ideal consumers, a great brand consultant will embody your startup. They will tune everything from the brand’s color palette to its social media voice to appeal to that audience. They will also come up with a digital strategy that incorporates content and social marketing. By aligning all of these elements, they can help you create a brand that will emotionally resonate with your target customers.

3. Career or Executive Coach

Depending on your prior experience, you may not be familiar with how to lead other people. In fact, being a founder may be your first true leadership position. Even if your startup consists of yourself and a few of your closest friends, strong leadership is vital to your company’s success. A great leader empowers their employees, fosters growth, and is always a few steps ahead when it comes to pivoting or optimizing.

While you may think that hiring a career or executive coach for yourself is selfish, it’s not! Hiring a coach showcases your dedication to growth, from a personal standpoint but also for your startup. Similar to a therapist, a career coach will work with you on addressing the traits or characteristics that you identify as weaknesses. They can help you identify goals that you want to reach, such as delegating certain responsibilities or better prioritizing your time.

Finding an executive coach can be as tricky as finding a therapist. You want someone who is a good match and will push you toward your goals. You need to connect with them so you can be open about your strengths and your struggles. Ask for an initial discovery call to get a sense of their personality and how you will work together. Also, co-create a coaching plan so you both start on the same page and have a clear idea of how the partnership will unfold.

Whatever your degree of financial savvy, bringing on experts who specialize in accounting for startups is essential. These experts can manage the recurring financial obligations like bookkeeping and taxes, as well more niche requirements like raising capital. With these experts in place, you can concentrate on growing your company.

Takeaways

Financial experts, branding consultants, and career coaches are just three resources that will help make launching a startup less daunting. The bulk of the work and decisions may still reside with you, but you can lean on specialists and know the best work is getting done. By engaging these resources, you can improve your startup’s chances of long-term success.