The most crucial part of any startup or new business is the first 100 days of operation. Not only will the first 100 days determine whether or not your business builds momentum and makes an impact, Read more
The most crucial part of any startup or new business is the first 100 days of operation. Not only will the first 100 days determine whether or not your business builds momentum and makes an impact, it will also set the tone of your business culture. Creating a plan for the first 100 days is vital for any new business looking to reach profitability and survive long term.
The most important considerations
There are a number of key areas which must be handled well in the first 100 days if a business wants to succeed:
The overall goal of your first 100 days
The end goal of the first 100 days of business is to put the company in a sustainable position, with a clear path in place to reach even greater success. In some cases, such as with complex new products, the development requirements mean that the business cannot begin trading with 100 days, and in these instances the startup should be focusing on iterating the product and securing sufficient funding to ensure that the initial product launch will be a success.
Once you are in a stable and financially healthy business position, you are able to turn your attention towards business development, which includes seeking new opportunities to grow and increase value for your customers, while eliminating waste and minimising expenses.