To grow your startup to the next level, you need to create a solid foundation. You need an in-depth understanding of markets, their market pain, and your minimum viable product (MVP). Your first business plan included a list of future revenue streams. Now you want to grow your business. This post discusses strategies to do that.
Understand and Enhance Your Sales Cycle
This is a normal part of scaling your startup. Learn about scaling. Think about ways to increase your growth rate.
Grow Your Startup to the Next Level
To become a better business and to grow your business you need to be a professional and install appropriate strategies and plans. if your startup is organized and your structure is systematized you will be better able to grow constantly and quickly.
Understand your offering, your positioning, your markets
Look at your startup with an objective perspective. What do impartial observers see? What does your startup do well? What can be done better? Meet new people. Expose yourself to new ideas. Learn to think “out of the box”.
Expand into new markets
Which new sectors or geographies can you sell into most quickly with the least expense?
Extend your platform
If your offering is platform based; how might you extend or enhance the platform? What would that do for you? What are the “low hanging fruit” in terms of revenue?
Extend your products
How might you extend or enhance your products? What would that do for you? In which sectors? What are the “low hanging fruit” in terms of revenue?
Startups usually focus on revenue growth; not on cost reduction. How might you improve your processes and enhance or extend your value add?
In some cases it may be best to outsource some tasks; especially for those tasks in which others can be more efficient.
Enhance and extend your business partnerships
As a startup you want others pushing for your success. What companies may be most helpful to you?