Common Financial Mistakes that Startups Should Avoid

Starting up a new business is exciting for entrepreneurs, as they look forward to turning brilliant ideas into reality. However, most business startups fail, no matter how great the concept is due to poor financial decisions.

Success means merging a strong brand with smart business practices as well as implementing the power of knowledge with good financial judgement and proper preparation.

As an entrepreneur, you can make several financial mistakes in the early stages of your business. But with enough knowledge on potential financial disasters, you can take simple measures to avoid them. Here are some of the most common financial mistakes startups make.

Miscalculating Cash Burn

A company’s burn rate is the amount of capital it go through every month to keep the business running. If you don’t have a good comprehension of your burn rate, you significantly curb your company’s ability to reach milestones before money runs out.

According to some latest surveys of new business owners, nearly one third admitted to understanding monthly expenses, while almost 20 percent of emerging business owners realized that they didn’t have enough funds. It is easy to make a mistake in calculating your  operational expensed, which leads to your initial financial expectations being off. Keeping a record of your startup costs can help.

You can manage your cash flow by creating a bottom-up forecast, using real-world variables. Top-down forecasting tends to lead entrepreneurs to be extremely optimistic about the sales and revenue that they will generate, while a bottom-up projection provides you with a more realistic measure of how much cash you will need operate and maintain your business.

Not Understanding Your Target Market

Market research must be a vital part of any long-term business as it gives you a view of your real business goals. You will be able to determine how much demand is present for your products or service, and have a definite idea about the standard prices in your market.

Moreover, you can gather unique vision about your target audience and your rivals. Without a proper understanding of the market that you intend to penetrate, you will probably make poor business plans.

Insufficient Startup Capital

Numerous startup owners start with too little capital and they expect that their initial profits will come quickly and underestimate the operational expenses that they must endure in the meantime.

It is significant to be positive, but entering a venture without enough funds to cover the planned startup expenses is very risky. Making this mistake can crash your business.

Your financial decisions can determine your startup’s future, therefore, you have to be very careful in making these choices. Let our team of experienced professionals help you boost your business output, visit Exo Management, LLC.

The Comprehensive Starter Guide to SEO

Search Engine Optimization is a field of website development that aims to improve the way content is ranked by search engines such as Google, Bing, and Yahoo in organic search results. Numerous approaches are applied to reach that target.

Most Internet users usually don’t click through several pages of search results. Therefore, a site’s rank in search engines is important for directing more traffic toward the site. The higher a website naturally stands in organic results of a search, the greater the possibility that the site will be accessed by users.

SEO helps ensure that your company’s website is accessible to a search engine and increases the potential of the site to be found by the search engine.

Before initiating an SEO program, you should read through the webmaster protocols that each search engines provide and follow suggested best practices. Failure to follow recommendation could lead to the site being poorly indexed. In worst case scenarios, your website could be ultimately blacklisted from the search engine.

SEO Techniques and Methods

You will be able to determine significant increase in traffic and in your conversion rate once you learn and meet the needs of your target market.

After your website started to rank highly in Google search, you’ll observe increased revenue, as you get more clicks. Here are some useful SEO techniques that you can implement to boost your visitors, search traffic, and conversion rate.

Identify Target Keywords

It is important to determine potential SEO keywords to target within the organic search results, and then improve the site accordingly. This list should consist of keyword phrases that your audience are are actually searching and that aren’t too aggressive to rank for your website.

Afterwards, these keywords should be added to your site in significant areas, such as page titles, heading tags, and body content.

Focus on Branding

More than SEO keywords, it is also important that you start the branding process in the early stage. Considering that the search engine must depend on measurable standards in order to analyze website quality for display in the organic search results, branded features remain one decisive guide that can be utilized to determine viewer valuation.

To start getting these perks for your website, decide carefully on your company’s logo, color scheme, tagline, and promotional statements. Implement these elements regularly across your web existence. You can also choose to work with professionals such as graphic designers or marketing consultants if you are not confident in coming up with a solid brand on your own.

Work on Content Creation

There are two reasons why managing a company blog on which you publish updates, news and brand promotions is a crucial part of SEO.

First, consistently posting content on your website increases the number of different keywords existing on the site. Boosting keyword exposure will help you gain free SEO traffic.

Second, loading your website with relevant content is a great way to develop the relationships you share with your target audience.

Maximize the Use of Social Networks

Major search engines acknowledged that social signals – including link shares and brand mentions on social network status updates – are currently contributing in organic SERPs rankings. This suggests that keeping a presence on these sites is significantly important for your company’s SEO program.

Invest in Link Building Campaigns

Another SEO goal to focus on is link building, which refers to the process of getting other sites to drive links to your content.

The total, quality and relevance of the links pointing at your company’s website are all considered quality signals in the search engine ranking algorithms.

Increase your company’s performance with Exo Management, LLC. Let our team of professionals guide you in taking your business to the next level. Visit our website to learn more about SEO.