Founding your first startup can be a daunting but exhilarating project. Nowadays, the sea of information available at your fingertips on strategy, product-market fit, MVP build-out, GTM, etc. makes navigating the role of a founder a bit easier. But there are plenty of smaller, practical tips and tricks that don’t seem substantial enough to find their way into these blogs but will nevertheless prove useful for smoothing the bumpy road that most startups face. Here are five such ones that I’ve learned over the course of my multiple startups:
1. Reserve a Company Name
Reserving a domain is probably the first thing you did after the inception of your startup idea. But, what about the company’s name? The last thing you want is to have social media handles, a domain, etc. ready to go only to find out someone else has already taken your company name.
Even before you’re ready to incorporate, you can reserve a name for your soon-to-be company. Many states, including Delaware and California (look for Entity Name Reservation), allow you to reserve a company name, based on availability, for up to 90 days for a fee. Once you are ready to incorporate, you can use the already reserved name.
2. Set up a Digital Presence
The next thing you may want to do is set up your business’ digital presence, including your email, document storage/sharing, online meeting software, etc. Setting these up front gives your business credibility when you interact with others.
I found the Microsoft for Startups program very useful for setting up the digital home for Saralam. You get the suite of Microsoft applications including Microsoft 365 and Dynamics CRM free for one year, and it doesn’t even require you to have a legal business entity to enroll. In fact, one of the listed benefits of the program is a discount on incorporating your business. You may want to further explore the Microsoft for Startup Founders Hub for useful resources like 75% off on LinkedIn Sales Navigator for 4 months.
3. Practice Your Tech
My most embarrassing moments during presentations with clients were when I went to share my screen and got hit with the dreaded “you need to download the meeting software” or “you have not authorized the necessary permissions” messages. Clients, especially at larger companies, will often insist on using their own video conferencing setup; you should at the very least have the desktop app downloaded, but it’s worth your while to run through the tech you’ll be using for the presentation as well. Having all the permission boxes checked before your meeting saves you precious minutes of your client’s time, as well as makes you look better prepared.
4. Invest in a CRM from Day 1
In tip #2 I suggested the Microsoft for Startups program, which, among other things, gives you access to the Dynamics CRM. Utilizing a CRM from your first communications may seem excessive, but having a log of points of contact and conversations with your clients will help when you may need to reference them in your future meetings. For example, being able to name specific people you’ve already reached out to at a company establishes you as a known face with whoever you’re talking to, or can even help them point you in the right direction.
5. Aesthetics Matter
Getting customers isn’t just about the product but how you present it. Winning over customers, especially the first few ones, is about presenting yourself as an established or at least soon-to-be established market force. Having cutting-edge tech or a well thought out GTM strategy can sometimes not matter if the way you present your product screams small time. I’ve found that investing in a website designer or slide decks with a cohesive visual story can make the difference, especially during sales presentations. This doesn’t necessarily mean adding another employee, as even gig platforms (e.g. Upwork, Fiverr, Behance) can suffice, but the little details of your company’s visual narrative should be given thought.
