You’ve Been in Business for Awhile…But Are You Still A Startup?

Many business owners who have been in business for a few years scoff at the notion that they might still be a startup. Yet the fact remains: even if you’ve been in business for ten years, you could still be a startup.

It’s possible that you’ve been in business for a while, just sitting at a rest stop on the way to start-up success. (Oh, I can rock a cheesy metaphor!)

Some of the great companies we know today considered themselves startups for years after they were profitable, largely because of the culture and hype. Google and Apple are great examples of this. However, being a startup for most companies isn’t a great thing, and frankly, it’s something you want to get beyond.

How to Know if You’re Still a Startup

The first way to know if you’re still a startup is to ask if any of the following defining characteristics apply to your business:

Defining Characteristics of a Startup:

To be a startup, you don’t have to have all of these characteristics. But if you find yourself thinking, “Hey, that’s me!” to any one of the following traits, you might still be a startup.

Limited Funds

A startup typically has limited finds. At Business in Blue Jeans, we look at this characteristic first and foremost. If you’re still operating month-to-month, you’re still a startup. If lead generation is still a struggle, you’re still a startup. And if you’re a home-based business and struggling to make the business into a real full-time living, then you’re still a startup. It doesn’t matter if you’ve been in business for five, ten, or twenty years. If you’re operating on limited funds and the business isn’t self-sustaining, then you’re still a startup.

Low Bureaucracy

Most startups maintain a fairly flat organizational structure, meaning that everyone plays a role in decision making and you keep paperwork to a minimum. Certainly for some organizations, a flat structure is simply an inclusive way of doing business that allows everyone to feel fully invested and valued. But at the same time, flat management can be an indicator that you’re still a startup.

A low level of bureaucracy might also mean that you’re super efficient…or it might mean that you’re a startup that hasn’t yet defined clear processes and procedures.

Products and Services in Development

In a startup, products and services are still in flux, being developed, so if you’re still figuring out what you do and who you do it for, you’re probably still a startup. However, even established businesses create new products and services. When that’s the case, a single department of your business might be considered a startup. The entire company doesn’t have to be considered a startup.

What to Do to Go Beyond Startup Status

Okay, so you’ve discovered that you might still be a startup. What can you do to take your business beyond startup status?

Gain Clarity

First, you want to gain clarity around your corporate culture. Does a flat management style really work? Do you need to nail down some processes and procedures so your business can flow more effectively and customers and clients will be served better? And what products and services will you offer from here on out? Note that you don’t have to make final decisions, but you do want to get superbly clear on what you do and who you do it for, so that you can move beyond this level.

Buckle Down

One of the great characteristics of a startup that I didn’t mention earlier is that everyone is working…hard. It’s the beginning and the last thing you want is to be one of the many businesses that fail. So you’re usually willing to do whatever it takes to make this thing happen.

When you’ve been in business for awhile, you know things start to slip. You don’t work quite as hard, you don’t focus as much. It’s the nature of how most businesses operate. Now’s the time to buckle down and get back to the basics. Work as hard as you did when you first started out so that you can get over this hump and into growth.

Stop Thinking and Start Doing

Most business owners who find themselves stuck in startup mode are mired in thinking about doing something…but not taking action to do it. How long have you been thinking about what your real target market should be? How long have you been thinking about which products and services serve your clientele the best? How long have you been living in indecision and uncertainty? Now is the time to stop thinking and start doing. You’ve waited long enough! Get in the game and take action and you’ll start to see your business move from startup to growth soon enough.

You’ve Been in Business for Awhile…But Are You Still A Startup?