Read four successful growth strategies for carving out market share or forging ahead into new territory.
Peter Cohan, founder of Peter S. Cohan & Associates, writes in Inc. that if you want your startup to survive, you need growth strategies to help you “create an entirely new market” or “go after a big market in a new way.”
While interviewing startup CEOs for a new book, Cohan amassed a huge number of growth strategies, and he presents “four that [he] found particularly clever” in his Inc. post. The first sample strategy he lists is to charge customers for the new revenues that your product generates for them. Another successful strategy to grow market share is to “develop a product that delivers what customers want at a much lower price.” All of Cohan’s sample growth strategies “make the lives of customers better in measurable ways,” and “if that means less revenue for competitors, these startup winners are not complaining.”