Startup Growth Strategy that Actually Works from Christopher Salis

1. Startup Growth Strategy that Actually Works from Christopher Salis

2. Did you know that only half of all startups survive for more than five years? Many startups, unfortunately, fail to achieve product-market fit, and startups lack a clear path to long-term success without an intelligent growth strategy. "It's a cause for celebration when an entrepreneur takes an idea and turns it into a profitable business," says Ed Sappin, CEO of Sappin Global Strategies. "However, simply doing the same thing will not suffice; long-term success will require new and evolving strategies." To scale and grow significantly, business owners must prioritize a growth to-do list." 02 03 04

3. Follow these simple steps from Christopher Salis to position your startup for long-term success and create a growth strategy that works:Rules from Christopher Salis for a Successful Growth Strategy

4. Know your Value Proposition Figuring out your startup's value proposition is the first step in developing an intelligent growth strategy. The value proposition must explain how your startup is ideally suited to meet or exceed your customers' expectations. "Many entrepreneurs failed because they never articulated a compelling value proposition," says Michael Skok, a venture capitalist and Forbes contributor. "Building a substantive value proposition is pivotal to embarking on the journey from just an 'idea' to a successful company."

5. Startups that fail to establish a distinct value proposition struggle to attract potential investors, generate a positive cash flow, and become market leaders. The best startup value propositions necessitate a thorough examination of audience behaviors, preferences, and other factors. Aim for a headline, sub-headline, and three bullet points for your value proposition.

6. Identify your Target Audience Determining your target audience is the second step in developing a realistic growth strategy. You are more likely to iterate on the wrong product enhancements, create the wrong marketing messages, and so on if you do not clearly understand your audience. These errors can empty your pockets.

7. Fortunately, there are several methods for determining your target market: ● Collect Survey Data: Begin by sending out surveys via email blasts or newsletters. In many cases, startups will collaborate with well-established market research firms. ● Examine Market Data: Look to your competitors for target market information and insights. Who are your competitors' target markets? Why do they prefer to shop there? What are the most popular products? ● Examine Personal Networks: Request that your network (friends, family, colleagues, funders, and mentors) evaluate your product or service. Make some assumptions about your target users based on their feedback. Create buyer personas to organize your findings. A buyer persona is ideally a fictional representation of your ideal customers, their characteristics, and so on.

8. Monitor your Competition Keeping track of the competition is beneficial for several reasons. For starters, your competitors may have already solved the problems you are currently facing. In essence, you may discover a shortcut to success by keeping an eye on your competition. "One of the reasons people don't analyze the competition, in my opinion, is the fear of discovering that their product isn't as good as their competitors' product," says Gilles Bertrand, Shire's global commercial lead. "But you can't escape reality; it's better to face it and quickly improve or pivot your plan, if necessary. Another reason is that they are unable to analyze the competitive landscape."

9. Are you looking for assistance in planning your startup's next growth stage? Use these insights from Christopher Salis and ensure business success.

10. Christopher Salis working as a start-up and business advisor and always stays ready to help individuals and companies in their business development. Follow Christopher Salis on Twitter, LinkedIn and Crunchbase to get more tips for your start-up.