5 tips for creating a successful start-up

5 tips for creating a successful start-up

5 tips for creating a successful start-up

Ashleigh Donald, co-founder of Halo Business Consulting, shares her thoughts on how entrepreneurs can build a business that will stay the pace and generate interest for all the right reasons.

Do the groundwork

Launching a hospitality start-up demands a profound understanding of the industry, emphasizing not just stellar service but a holistic guest experience encompassing multiple touchpoints. It’s vital to be well-acquainted with global trends, technologies and customer preferences. The critical first step involves crafting a business plan that highlights your Unique Selling Proposition, rooted in meticulous market research and realistic financial projections. Following this, securing adequate funding from sources aligned with your vision is essential. Equally crucial is assembling a rigorously trained team united in their commitment to all aspects of your business.

Master marketing, comms and customer experience

In a digitally dominated landscape, having a formidable online presence rooted in a user-friendly website before launching is essential. Delivering seamless customer experiences should be the goal. Your website should resonate with accessibility and efficacy, carefully calibrated for search engine optimization. Engaging content remains paramount. Utilize the social media platforms frequented by your target audience to foster a vibrant online community. Garnering reviews on prominent platforms like Google, Tripadvisor and Yelp also plays a pivotal role in building reputed names globally. Properties such as the Oberoi Hotels & Resorts diligently respond to reviews, carving a niche in customer satisfaction through constructive engagement with feedback.

In addition, nurturing guest data has emerged as a cornerstone in personalizing experiences and fostering loyalty. Chipotle Mexican Grill has mastered this approach, employing a vast pool of first-party data to personalize the entire dining journey, encouraging direct interactions with customers, while also maintaining a significant presence on third-party platforms to reach a wider audience.

Invest in technology

In a digitally advanced landscape, open Application Programming Interfaces (APIs), especially in Property Management Systems (PMS) such as Apaleo, are pivotal in fostering flexibility and innovation in hospitality startups. Previous limitations around Electronic Point of Sale (EPOS) systems or PMS choices are now a thing of the past. Today, start-ups can utilize open APIs to integrate various technological solutions seamlessly. This freedom enables a start-up to select an EPOS that meets its precise requirements without fretting over compatibility with the existing PMS. The open APIs ensure a smooth alliance between different software solutions. Furthermore, they can easily accommodate global payment platforms like Stripe or Revolut. Finally, implementing sophisticated customer relationship management (CRM) systems like Revinate has become significantly easier, enabling start-ups to create highly personalized guest journeys with complex marketing strategies more easily.

Launch with a bang

A memorable launch not only builds excitement for a new brand, but plants your start-up on the industry map. Recently, there has been a growing trend toward a community-focused approach that builds authentic connections with the locality.

These events provide an opportunity to emphasize the unique features of the property and its commitment to celebrating local culture and sustainable practices, while promoting a sense of authenticity. Given this trend, start-ups should consider launch events that showcase an environmentally friendly approach and take the form of genuine collaborations with the local community.

Evaluate customer values and adapt to feedback

Post-launch, it is crucial to actively monitor performance and consider tweaks based on customer feedback, online reviews and KPI performance to identify areas for improvement. It’s also important to embody sustainability and social responsibility from the outset, understanding your customers’ values and positioning your business culture on the global hospitality scene. Targeting recognitions such as the Michelin Guide’s Green Stars can reinforce your commitment to your values, while enhancing your brand’s credibility and attractiveness.

Remember that hospitality today extends beyond mere service provision to crafting experiences rooted in responsibility and care, striking a chord with an increasingly sustainability-focused, value-driven customer base.

Ashleigh Donald,
Halo Business Consulting Ltd

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