10 steps for growing and scaling your start up business
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10 easy steps every entrepreneur needs to keep in mind if they want to grow their start up business to the next level.
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10 steps for growing and scaling your start up business
- 1. Peak State Ltd How to scale-up and grow your Startup? Anuj Khanna CEO, Peak State Consul1ng February 2017
- 4. Peak State Ltd How to scale-up and grow your Startup? Anuj Khanna CEO, Peak State Consul1ng February 2017
- 6. Peak State Ltd Step 2: Customise and localise • Languages • Currencies • Pricing models • Payment methods • Product aZributes • Delivery & collec1on op1ons • Accessibility
- 7. Peak State Ltd Step 3: Create a raving fan club for your products • Strong addic1ve proposi1on • Connect with customers emo1onally • A sense of belonging and community • Customers as brand ambassadors, preachers and marketers. • Trust and bonding • Self fulfilling prophecy • Customer generated brand itera1on and enhancement.
- 8. Peak State Ltd Step 4: Guerilla marke1ng • Focus on ease of service discovery. • Educa1onal, entertaining, interac1ve and useful marke1ng content. • Social, viral and user generated marke1ng. • Look for market gaps • If you get lemons make lemonade • Exploit marke1ng opportuni1es created by new media • Keep costs low • Invi1ng proposi1on
- 9. Peak State Ltd Step 5: Sell, Sell and Sell • Easy to buy, subscribe, install and use product. • Easy to understand pricing and revenue model. • Mul1ple point of sale and payment methods. • Maximize distribu1on partnerships. • Find “Big Brother” sponsors, referrers and bundlers to push your products. • Don’t feel shy (business is a contact sport)
- 10. Peak State Ltd Step 6: Focus and bring order in your “Organised Chaos” • Think long term • Introduce strong financial and legal processes. • Delegate where required and build a winning team • Outsource non core services • Be prudent while making build or buy decisions • Hire and rent should be the first op1ons. • Ensure good corporate governance and compliance. • Do not get 1ed into long-term leases, unwanted contracts and messy customer implementa1ons. • Control costs and improve quality
- 11. Peak State Ltd Step 7: Seek exper1se, mentors and friends • Welcome external perspec1ve and advice from – Customers – Subject maZer experts – Investors – Strategy consultants – Mentors – Advisors – Analysts – Personal coach – Industry peers – Friends and family • You are not alone!
- 12. Peak State Ltd Step 8: Improve, innovate and be open-minded • Be open to revising business and revenue models when required. • Improve product • Changing sales and marke1ng strategy • Hire and Fire • Innovate and iterate • Restart, Restructure or relocate • Partnering, selling, buying or merging. • Don’t blame others and make excuses • Walk away from a bad deal and recognise a good one.
- 14. Peak State Ltd
- 16. Peak State Ltd How can I help you? – Business Strategy Consul1ng – Leadership coaching, non execu1ve directorship and board advisory – Corporate expansion, growing sales and revenues. – Fund raising, Investment appraisal, due diligence, financing, mergers and acquisi1ons.** – Business development and marke1ng strategy – Digital, IT and mobile strategy – New market entry – Business turnaround and change management – Product development and life cycle management – Mentoring and advising young entrepreneurs, family investment offices and poli1cal leaders. **Peak Sate Ltd does not offer any financial advice or regulated financial services. Any such services may be offered in partnership with our regulated Private Equity, Venture Capital and Mergers & Acquisi1ons advisory partners under separate contractual terms and condi1ons directly with the regulated en11es.