You’ve launched your business in ninety-days, and you’re starting to make sales. Awesome job!
What should you do next?
Look after yourself. Launching a start-up is an intense sprint. You give it everything you’ve got. It’s impossible to maintain that pace forever. Take some time out to look after yourself. Rest, and spend time with loved ones. Also, take inventory of your lifestyle habits. Are you exercising regularly and eating healthily?
Reflect on what you’ve learned. Ask yourself: What worked? What didn’t go to plan? Did things work the way you expected? It’s a good idea to get your team involved in discussing these questions.
Refine your financial projections. When you created the financial model for your business, it was built on a set of assumptions. Now you’ve had time to test those assumptions, and you can adjust your financial model accordingly. This is especially helpful for finding out how much capital you’ll need going forward.
Evaluate your team. Are you performing well together? Who are the stand out individuals? Who needs to do better? It’s your job to make sure you’ve got the right people in the right positions. That can mean offering better support and training, or it can mean making painful changes. What’s most important is to do what’s best for your business.
Look for growth opportunities. How can you best help your team to develop as they take the company forward? Ask them if there are any roadblocks you can remove to improve results.
Think about adding new products or features. This is the time to strengthen your most successful product, and consider whether you need to launch any other products. You will have been listening to your customers throughout the launch, so you will know what they need.
Update your strategy. You’ve talked to your team, and checked whether your financial model is sound. Based on what you’ve learned, update your goals and strategy.