How To Build A Growth Engine For Your Startup ?

Working with phenomenal entrepreneurs, startups & global experts in building growth for ventures has bought the growth story formatted in simple 5 folded steps that might be useful for any seed stage or early stage startup that is wanting to accelerate into the growth stage:

Here you go :

• You should know at what stage & what kind of functional executives to hire in the management system. Hiring the right human capital for growth is the key, it is useless to save money when you don't have expertise for growth. Hiring experts who have the right aptitude and experience makes a lot of sense whenever you are thinking of growth. It is mindset plus experience both clubbed together.

A tech lead at twitter once said “ The purpose of hierarchy is to destroy bad bureaucracy.”

Courtesy : https://blog.drift.com/hiring-management/

• Find your USP, Build Your Momentum and Stay Focused. Seep in accountability for every little step and get that it rolling and measure it. Massive push on all fronts and building the right mindset for growth for across verticals. It is more of a top down approach where the management or the founding team set the accountability parameters set for gauging in the growth phase.
• Focus on both internal and external factors for growth.This includes all human capital that you have. Building thought leadership and POV is the key to sharing this across the horizon. More creative, accurate and related content increases chances of engagement by P2P sharing that itself fuels growth and is true for all products and services. Building the right processes and controls will help you streamline the growth story in an almost auto mode. Whether tech, marketing, sales or for that matter operations everyone works to hit the growth milestones. Similarly a strong Digital PR also carries a great tick to the startup in the early stages for outreaching to the prospective target audience.
• Being focussed and pin pointed that sells best then put innovation & expansion in a strategic manner for growth. Spreading too thin with a host of things will mostly put you in trouble. A good bottomline ringing can give a feast of growth so keep selling one product or service that is bringing in constant traction and later move on to the other product lines.
• Building realistic pitstops for growth and measuring them time to time. This might require functional efficiency of the human capital to do so. Preparing for those pitstops and pushing the growth to the next level and handling that growth is also critical. It is just not getting 5X customers in 1/5th the time it is also about planning & preparing for various other support functions that those 5X customers might require in 1/5th the time. The point is will you be ready and prepared at that time ?

What has been your experience ? How do you feel about it ? Do share your thoughts.

Bon Voyage.

Follow me on Twitter @ravikikan

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