How To Be One Of The Few Successful Startups
Most startups don’t achieve the successful startup goals needed to continue in business. Why?
The main reasons given are they couldn’t find product-market fit, couldn’t generate enough revenues and ran out of money.
But, It doesn’t have to be like that. No one can guarantee a successful startup,
but if you follow the strategies used by successful startups, your chances of success are 9X better.
Now, You Can Build A Successful Business On A Startup’s Budget
Where to start
You think you have a great product or service idea but you need to make sure. So, you ask a couple of friends.
They all tell you, “yea, it looks like a great idea to me”.
There are no consequences for their answer and they don’t want to hurt your feeling, so they agree.
You now have some opinions, but no facts. To get facts, talk to people in you’re targeted audience. But, don’t tell them what your product is.
Instead ask them, during the conversation, if they are having n(the problem you want to solve) and ask them if they also have that problem.
If the answer is yes, ask them how they handle the problem and how big of a problem is it.
Better information. Better decisions.
Create your strategy
This means defining your objective. Not your goal, but a specific, reachable and measurable objective.
You will then be able to diagnose the problem and create an insight into how to solve the problem.
Then, decide what your company will do and will not do.
This is difficult because you do not have the resources to do everything. And ts hard to say no, we will not do that.\
Once that is done, you need to prepare a coherent plan on how to execute your strategy.
Your strategy is your story.
Keep refining your strategy (core story) into your value proposition:
what you do, how you do it, what the results are, and how the customer benefits.
Get your story now to one or two lines.
Your strategy is your story, marketing is how you tell your story.
Embed your story into a marketing and sales messaging program designed to sell.
Your story will enable you to get away from just facts and features. For example, stop selling just grass seed and start selling greener lawns.
And if your product is technical, use simple language, analogies, and metaphors to sell your product.
A good example is when Steve Jobs introduced the iPod which held 5 Gigabits of storage.
No one could relate to 5 gigabits, so he held up the iPod and said you can put 1,000 songs in your pocket. That, they understood.
Use your story/strategy to become investment-ready
Successful startups also start immediately to use their story to become “investment-ready.”
The first question investors ask is “What’s your story?”
Because your story is your strategy, you will be prepared to tell investors
what your company does, why they do it, why customers buy from you,
and why this company represents an opportunity these investors will not want to miss.
Equally important, because you have done your homework and facts to back up your story, you will be able to answer their questions.
Answering their questions is critical. That is where they will go into depth with their questions and judge you and your idea.
Conclusion
Are you ready to learn the secrets of successful startups?
If you would like to learn more about the secrets of how successful startups are developed.
How you can develop your strategy, reach product-market fit quickly, create a business model that supports your story,
turn your marketing into a sales machine, and get investment-ready, grab a look at our website. You will be happy you did.
We have three options starting at only $39 per month, for three employees, including free email questions and with no contract. Cancel any time.
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