Curated from: europeanbusinessreview.com
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Scaling a start-up requires careful preparation and a timely launch.
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305 reads
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.
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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.
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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.
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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.
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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.
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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.
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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.
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67 reads
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