Presenting your first startup to the public can be
intimidating. Here are some best practices to help you plan your public launch.
There comes a point in the
life of every founder where you have to take what you've spent the last few
months, or even years working on and announce it to the world. You have to take
your startup out of the garage and release it to public scrutiny.
While
intimidating, a public launch adds some sense of validity to what you're doing
and it is a pivotal step in the process. It shows that you, as a founder, are
wholly committed to your vision and making it a reality.
Effectively
planning your public launch will better set you up for success in the future.
First, you need to check off your list of business essentials.
Don't forget the essentials
This
may seem like common sense, but founders who are working heads-down on their
startup can easily forget a few foundational business items before launch. The
biggest issues in the beginning are tax issues and legal issues.
By
this point, you should have incorporated your business and taken care of any
intellectual property issues, begun the patent and trademark processes, and
handled anytax concerns facing your startup.
Before
launching, you should also nail down any business processes that will not be
handled by either you or a co-founder. This can be the easiest to overlook,
especially early on. Outside of your core business, you've got to figure out
payroll, accounting, customer service, and human resources. If you aren't in a
position to hire for these roles, consideroutsourcing.
Once
you've gotten the back-office essentials under control, it's important that you
spend time outside of the office (or garage, or bedroom, or your parent's
basement) and get to know people in your local startup community. Attend events
and get to know what other founders are building, and support them if you can.
While
this is typically considered a common courtesy, it's also a way to indirectly
build hype for your launch and get people excited about what you're building.
It is through this networking and community engagement that you could also find
a mentor to
help you in your startup journey, or even find another company who may be
looking for a company to share office space with.
Know your story
To
make the biggest impact on launch day, you need to know what story you're
telling and how to tell it. This goes beyond a simple elevator pitch. You must be able to give
people a peek into your world and clearly articulate what makes you different.
"All
entrepreneurs think what they're doing is interesting, but people need a
compelling story beyond your product satisfying a market need," said Jim
Barnett, CEO and co-founder of Glint.
"Communicating this story internally and externally lays the foundation
for a great launch."
It's
important to note that company messaging should be consistent both within the
organization and externally, so what is projected by marketing is fulfilled by
all employees. Boris Wertz of Version One Ventures said this goes for the
messaging on your site as well.
"When
your new customers come to your site on launch day, do they immediately
understand who you are and what you are doing right away? If not, then remedy
this quickly," Wertz said.
Barnett
said that early confirmation from customers is critical in establishing the
story around your company, especially if you are selling to the enterprise.
Feedback from beta customers, for example, can give you a clearer vision of
what your startup helps users to accomplish.
Meet the press
Media
attention is a huge part of getting traction in the early days. According to
Jay Gould, CEO and founder of Yashi,
knowing your audience and how they can relate to your story will also help you
as you go about pitching to the press.
"Pitch
the media, niche and widespread, a compelling story line that describes a
problem their readers have, that your business can solve," Gould said.
"Then, integrate your business into the story as the only company with the
technology to solve this new problem they weren't aware they had."
When
you present your story to the press, or potential investors even, leveraging
that established differentiation is key to making yourself memorable. Gould
recommends adding unique details that are relevant to the particular audience
or investor to maximize your chances of your story resonating.
When
it comes to the particular media outlet, do some research on the types of
content they put out. Make sure the news around your company is something their
readers would want to know, and craft your pitch to fit into their content
framework.
Social
media may seem like an obvious tool to utilize as well, but if often isn't. Not
only should you post your news to social media site, but you should be engaging
with commentors and submitting releases to aggregators as well, Wertz said.
Celebrate your people
Finally,
you have to celebrate. Before you run off and rent a few helicopters remember
that we are no longer in the dot com era and burn rate is no longer a positive
metric. Still, whatever this ends up looking like for your company, it's
important to take time and recognize the commitment to the dream.
"Recognize
and celebrate the hard work, talent and dedication that laid the groundwork for
your company, as well as the customers and investors that decided to join you
for the ride," Barnett said. "They will be your greatest advocates in
the years ahead."
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