How do I make a plan for growth? do I just improvise?
What is way to design the growth plan?
To grow is critical. You must have designed and planned a business that has room to grow. If you are a local business, your ceiling is local. If you help a certain group of people, their population is ceiling. So it is important to have choosen a business that can grow. Once that is OK, you can grab any textbook and plot out growth strategies.
The idea is then to survive and grow at all cost. Then transition the company over time to a very high 'ceiling' and attractive market. Then to create a sort of plan to grow the business in the most fundamental things. Product improvement, driving more eyes and driving more sales? Keep growing the company, and over time the business starts to take on opportunities as they come, and start to develop a strong sense of how to grow the business into a company that eventually scales large.
It's more of a first, get the marketing, sales, and product to keep improving at a rapid rate. Then it's looking at which opportunities to take to eventually be a dominant player. And then it's about trying to get a strong ROI at around the later stages.To summarize it has a sort of abstract way of growth and only when the company is more mature will it have more a more exacting fine tuned growth plan. In the beginning and middle stages, growth and taking on good opportunity is key. Mid to late stage it's starting to sculpt the clay so to speak, and coordinating growth in a more traditional big business sort of way
TLDR: at the start and mid stages just grow in whichever way, just stay alive and grow.
Question asked by
May 3, 2020, 6:00:54 AM
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How to turn an interest into a money maker. How to attract people, how to stimulate people to pay, how to make profit, how to make relations, how to keep relations.
How much do I have to give my audience so they can pay me something in return? What do they value? what problem do they search for answers on your own? I want to solve that problem.
Brand means name recognition. A lot of people knows what your company does and what you stand for. Brand is result of long campaign of consistent value provision and media cultivation. Brand helps a company reduce marketing cost.
Whether there are buyer willing to pay or not. For that to happen you must provide extreme value. The entire startup process would be based on guess before the validation. Validation happens in a market, not on the street.
Value is what you give customers beyond the price you charge. Value is effective solution to a problem. The price your customer pays reflects whether the problem is big for them and whether your solution is uniquely effective. Value stems from quality and detailed work.
Marketing means bring your product to the market and bring your message to your customer. Marketing is not salesmanship. Marketing is to penetrate the world of commerce through many barriers and existing networks.
Minimally viable business, or MVC, minimally viable company. A company that scrapes by, full of guess and hope and no traction and sales. When you give your customers things for free they all take it. But they never pay and you can never rent a table at the market.
Minimal viable product. A full artifact of a real product. Something that works ALL THE TIME. You can demonstrate the real effect on real people - not to sell hope. The MVP may not have certain non-essential bells and whistles, but it needs to have appeal value.
Customer is king
A business lives at the mercy of its customers. You provide your customers 10 dollars worth of value and they pay you 1 dollar, not knowing that your company only costs 99 cents to provide the item. The value is not the item - the value is what is attached to the item.
Company culture is based on a company making money. Once your workers are paid, they need to have a mission and aspiration so they are not bored everyday and make trouble in the work place.
A company valuation is cash investment divided by the percentage. As long as your story is good, the valuation will keep coming, and the investors will keeping falling into the line.
Return on investment
Investors are either behind family fortune (never work with them) or for rich clients as investment vehicle. Both need returns 2-3 times better than stock market darlings.
Having found what people want, not just what people may need. Your offering and their acceptance is sure, no longer a guess. You can provide it for profit, and you can indeed making living on it. Traction is sometimes called validation. You are no longer a theater. You have touched nature, and found cash vein.