Startups are tough. Doesn’t matter which industry, it’s all uphill and lots of blips and bumps before the first taste of success. The engineering startup is no different. If anything, even more!
The engineering startup faces double the teething problems, from product development to B2B Marketing that could go wrong. The trick is to anticipate the twists and turns and be prepared or better till prevent them.
Here are 8 things people wished they knew about SaaS Marketing before launching an engineering startup.
- If only I knew that business comes first
Your startup might be a thing of passion for you. You started it and you want to go full steam ahead. But passion alone doesn’t a make business, more so when it’s an engineering startup. Faced with the daily nitty-gritty of business, passion will evaporate. Most of the daily nitty-gritty is common to all businesses and will include marketing, sales and customer relations, accounting, and human resources. These cannot be avoided or ignored. Overall success rides on these variables. So get used to the reality that much of the time you’ll be a Jack of all trades.
- If I knew the customer calls the shots
Your startup should serve the customer. Make that your priority, your mission. Of course, the goal to make profits shouldn’t be lost, but without satisfied customers, there wouldn’t be any business at all. Even an engineering startup has to deliver to its customers what the customers want. Create a product or service that customers would want. In other words, there should be a demand for the product. The product or service should fulfill a need. Plan your startup with that in mind. Add extra value to the product to stay ahead in SaaS marketing and beat the competition. Deliver such that the customer’s pain points are covered.
- If I had factored in chances of failure
It is acknowledged that most startups go bust in the first year itself. That does not mean you sit on haunches and brood. If your business is SaaS, then you need to hire the best SaaS product marketing agency in India for success in SaaS marketing. Cut all the negatives out and run on the positives. Fear of failure shouldn’t curb the entrepreneur in you. There should be a Plan B, even a Plan C if it comes to that. Always be aware that failure could spell financial disaster. A way to beat this is to do a job along with giving your best to the startup. That way, there is always a cushion to fall back on in case the startup folds. It’s also called a safety net.
- If I knew beforehand, I’ll only have to depend on
Note that when push comes to shove, when you launch your engineering startup, you would find that at times of crisis, there is nobody you can lean on, think for you and act for you. The support and guidance that you may want are just not there. Factor this also in when serving your engineering startup; otherwise, you might live to regret that you did not have a team to help. If the startup runs up! That said, you’ll still be the one taking the critical decisions. Success or failure — both will be yours.
- If only I had given importance to the cash flow
Even startups, in fact, particularly startups, critically depend on cash flow management. There will be daily and periodical expenses, even unanticipated expenses. Neglecting the cash flow can prove fatal to the engineering startup. And no business would want to end up in a financial mess. There should always be funds to keep the startup alive and kicking, for example, money for overheads like payroll and utility bills. Cut out the unnecessary expenses and try to run a tight ship. In particular, SaaS product marketing is cost-intensive. So, making sure that the funding channels are all working fine is very important.
- If I had taken up a part-time job
Launching your engineering startup, while clinging on to a 9 to 5 job, is not possible. The startup will suffer and the job will also be adversely affected. But any income to help the startup entrepreneur is a big help. In case the full-time employment is hard to pull along, go for a part-time job. Don’t stand on prestige or let the ego come in the way. The important thing is to ensure the startup succeeds, everything else comes second. Don’t let the tap dry on a steady flow of income. Side-hustles keep things on an even keel, especially when the startup hits roadblocks.
- If only the buyer wasn’t ignored
Today’s customers want to know their way around the products they buy or decide to buy. They research the makers of the products they want to buy. They would want to know the people behind the firm that offers a particular service. Today’s buyer is mostly spending time online. They could take in their heads to know the people behind the engineering startup. They would want a story to go with the startup. So give them the story, the authentic story. It’s called customer engagement. Don’t regret later that the startup did not get the backing of modern digital marketing techniques.
- Compile a list of 100 golden rules
There are thousands of insightful articles and blogs available on the internet dealing with startups. Read these blogs and compile your list of 100 golden rules for startups. Many of these rules will also apply to engineering startups. Here is what they would look like:
- Get out of your comfort zone
- Find funding, co-founder
- Get the right kind of people around you
- Let the world know about your business
- Understand, marketing is the key
- Try to know your customer feedback
The engineering startup founder who anticipated all that could happen to his startup is rare. Nobody can take into account any and everything that can happen to his engineering startup as it chugs along towards success. The idea is to anticipate the pitfalls and be ready with corrective measures. Hiring the best SaaS product marketing agency in India is the only way you are going to come trump in this game.
An engineering startup will need to run a digital marketing campaign as much it needs to work on best SEO practices. To plan and implement digital marketing campaigns and SEO, a startup will need the help of a digital marketing agency.