When it comes to the beginning of any startup, it is the toughest journey faced by every company stood at the top now.
The consistency and adoption of new trends made them achieve what they are today. In this article, let’s look at some growth tips that work along with a startup’s journey.
Know Where You Are
Success depends on the knowledge and experiences that one has in a particular niche. The new brands cannot compete with the companies that are already captured the market and have a reputed brand name. Every individual who has seen success has a mentor who teaches their experiences, tough situations, and their solutions throughout their carrier journey. Knowing where you are and knowing how much knowledge you have in the field make the way clearer and show the missing parts.
Create a New Trend
Spying your competitors and knowing what they are doing to stand consistently in the market is good. But, following their ideas and approach makes you a follower of that company but not a competitor. Rather than focusing on others, focus on your product and try to add new features or make it useful for multiple situations. If your company is of service providing, try to add additional services and gain an in-depth knowledge of the field.
Never make your product/service cheaper than your competitor’s products/services. People may think of going for cheap than a costly product. But, it will never build your brand. The production cost of the iPhone 12 pro max is around 400 USD but apple selling it for 1700 USD. Everyone on the earth may not afford that, but apple didn’t compromise to get the price down. A brand consistency depends on the end goal and the customers who they targeted. This drives us to our next growth essential.
Know Your Customers
The market is an ocean, and your startup is just a drop of it. Knowing who your customers are, makes a huge difference around the competitors. Specifying for whom the product/service is made for, makes the marketing easy. There are two types of business approaches exist. one is B2B and the other B2C, let’s take a small look at them.
B2B(Business to Business)
When your product/service is made to help other businesses, it is called B2B. In B2B, you have to generate leads in order to proceed further. The Lead is nothing but the contact details of a business. In most cases, it doesn’t require marketing like advertising, promotions, etc.
B2C(Business to Customer)
B2C is another approach when the product/service is made to help normal people. Unlike B2B, B2C is a different criterion where it may or may not require lead generation. If the product is complex then it needs lead generation and automation. The B2C requires a strong Brand to pass through the present tough competition. In most cases, before starting the Business itself it needs marketing.
While working on Brand building, one should work on product quality-unknown
Stay on Trend
Back in those days, the data analysis was done via registered. For doing so, Companies have hired someone to do it for them. But, as the new technology came into existence, almost all the works are done via ms excel. The people who used to work for companies to write, calculate and analyze, lost their jobs with just a single software.
So staying on-trend and adopting the new technology is crucial. People in the market always prefer the latest and trending. A brand consistency mainly depends on changes that are adopted to raise the product quality.
Have a Business Plan
Having a business plan help to know the step to take further. planing what to do for the next 4-5 years down the line gives your partners and employees an idea of your business goals. Trust plays a major role in the business world. Having a well-structured business plan grabs the interest and trust of the investors.
The reason why most business plans fail is that most of the companies out there in the market follow the traditional structure. Every step we plan should be ideal and unique. It can help in collaboration with other companies and making business partners.
Follow Marketing Strategies
Back in those days, marketing used to be very complex. But nowadays, all those works are done within no time. Thanks to Digital platforms that are making marketing easier as time moves. Digital marketing is the new trend of marketing. With the right strategy, one can rule the entire internet with his fingertips.
Unlike the big companies, where they spend loads of money on advertising and marketing, small startups cannot bear that level of budget. Following a marketing strategy helps in building your brand and spending comparably less money on advertising.
Pay On Time
Pay your employees salaries, bills, etc on time. Everyone have 24 hours in a day in their life. so, one cannot achieve a goal while he fight single. To achieve the business goals on time, we hire someone and buy their time to work for us. we have to value our employees and be a leader to them rather than a boss. paying their salaries on time and making them happy will boost their productivity.
Work as a team rather than just following the rules. Value everyone’s ideas, evaluate them, and apply them in your startup journey.
so, instead of focusing on competitors, focusing on the product quality makes the way clearer and builds a strong brand. knowing where to market in this huge crowd works way better than diluting into the crowd.
Staying on-trend makes us consistent in the market. Having a business plan will get a better idea of organizational goals. following marketing strategies decreases the budget and builds the brand with a high reputation. working as a team better than working for the sake of money. so, that’s how the growth and consistency come for a startup. Comments and social media share can be appreciated. cheers.