Growth is the sign of a startup of business; success or failure. There are many authentic case studies and researches for growing startups of successful business. Although no one can find everything 100% true but we are pretty confident about these stats. In light of these studies you should learn from these amazingly successful companies, to shape your thinking process and hopefully instigate you when it gets nearer to your business startup growth.
So here is the review of few essential points taken from different researches about the fastest growing business startups globally. These can be a reference to get the correct method to build your own business.
- Product is Essential for Growth
In all fastest growing companies, product experience is a common feature in all. A great user experience attracts more loyal customers of your product. Sustained growth is impossible without a good product.
- Growth is an Endless Process
Growth is a relentless focus of all successful business startups. These companies utilize all their resources to get constant growth. LinkedIn’s innovation is a good example of it.
- Marketing and Growth are Two Separate Aspects
Another same feature of these companies is that they do not use traditional marketing tactics for promotion. They depend on their product first then marketing. Their growth program designs on joint efforts of growth, products & marketing.
- Don’t Follow the EXACT Same Path as Others
Learning some techniques and tools is good. But following the ditto same path will leave you second to that company.
- Don’t Try to Solve Issues at Once
Successful companies start products with niche market to achieve great success. Founder of Wealthfront Andy Rachleff always emphasizes on its importance. Snapchat started with this same strategy.
- Build Scalability in Products
Paul Graham gives his advice for business startups that take your time to talk and visit your expected users. Uber developed their business guidelines which leads to initial market test and then launched new services in market.
- Merging Analysis and Insight
Analysis approach is the basis element for growing startup and all faster growing companies find opportunities by combining analysis and insights for growth before launching any product or services.
- No Exact Solutions
Successful companies do not use single solution for their business matters. Products attract many users using accurate growth strategies.
- Growth is a Result of Teamwork
Growth works as a DNA for fastest growing companies. The whole management from top to bottom has the same objectives. So teamwork is backbone of all growth strategies.
These are few lessons for growing business startups. You can use these as per your business requirements and objectives. And don’t forget the rule number 4 ;-).