Scaling a start-up requires careful preparation and a timely launch.
A start-up often fails because of premature or late scaling. 90% of start-ups fail: 10% fail in the first year and 70% in the following 2 - 5 years.
The following questions can help assess if your start-up is ready for scaling.
A common mistake for start-ups is to fail to consistently gather and analyze key indicators.
Marketing approaches that secure start-up growth is brand marketing, performance marketing, and product marketing. Each approach is connected to a specific stage of the sales funnel: awareness, acquisition, activation, revenue, retention, referral. If you move from one task to the next, you may waste time, opportunities, and investment. So instead, focus on one or two tasks from the list.
Vanity metrics reflect how well you grow your social media followers, get more website visits, and gain trial users, but they fail to meet your business goals.
Sometimes start-ups choose too many metrics. Despite their progressive increase, they don't contribute to business growth or help to attain business goals. The issue is that the start-up does not have a relevant metrics base. You should choose two or three relevant metrics and set a deadline for them.
Understanding your client's real needs are essential for a long-lasting relationship.
To help get to know your clients, consider the following questions:
It is sufficient to identify the needs of your best users. They are loyal and independently promote your product.
Marketing strategies are pointless if a product is not validated and the audience does not see its value.
Marketing is used to highlight your product's advantages.
Long-term success is achieved through a clear marketing strategy, not by the individual aspects - customer knowledge, brand awareness, product validity, etc.
The main goal of a start-up is growth. Therefore, understanding the start-up market can help find the right marketing tools to influence the audience.
The journey of a startup is often bumpy. A startup can fail when there is a lack of patience and respect for you and your team.
Be patient, respect the ideals and be grateful for the continued experience.
❤️ Brainstash Inc.