Taking these growth myths as truth will not only stifle your ability to develop business growth strategies — they can even kill your business.
You want your company to grow. It’s a natural progression of a developing business. But it can be a tricky road to navigate, and it’s filled with soothsayers and false prophets. As you make your way towards growth you’ll encounter more myths than Aesop could ever hope to document.
In order to develop business growth strategies that are successful it’s important to understand and debunk these myths, say entrepreneurs Keary Crawford and Wayne Simmons at VentureBeat.
Like a house, your business is only as sturdy as the foundation, which is why achieving product market fit is crucial to success.
When it comes to human history, it might be all about BC and AD. But as far as your business is concerned, it’s all about BPMF and APMF. For those unfamiliar, that’s Before Product Market Fit and After Product Market Fit.
These two time periods divide the life of any startup. In a post at Startup Marketing, Sean Ellis, CEO of Qualaroo, says achieving product market fit is the first step in the startup pyramid.
Going from a grandiose idea to an actual, profitable business takes multiple steps and multiple skillsets, which is why you need this nugget of entrepreneur advice.
The seed of a business might be a spark of inspiration at a dinner table, but ultimately you want it to evolve into a conversation about revenue over a conference room table. It takes a wide variety of people and skillsets to get from one conversation to the other, though. In a post at Forbes George Bradt lays out the key to transforming your idea into reality, offering a crucial bit of entrepreneur advice you won’t want to miss.
Known for his rampant openness and generosity, Brad Feld has learned a thing or two in his career about navigating entrepreneur burnout.
As a VC partner at Foundry Group and a cofounder of TechStars, Brad Feld has helped numerous young companies and entrepreneurs get through their rocky startup phases. He knows first-hand that it can be a draining business, but after years of experience he’s learned how to manage entrepreneur burnout, deal with failure and stay fresh. He offers advice on those topics and more in an interview with 99u.
Having seen over 350 startups pass through his accelerator program at MassChallenge, John Harthorne offers up the entrepreneur lessons you need to know.
There have been countless startups that have, well, started up over the years. There are plenty of success stories and even more tales of caution. Having run MassChallenge, a global startup competition and accelerator program, since 2010, John Harthorne has been around his fair share of new businesses. In a post at Inc. he offers his thoughts on the five key entrepreneur lessons he’s learned.
While it feels like a daunting task, it’s not impossible to successfully go about managing change and innovation.
Innovate or die. When put like that, it’s time to schedule some brainstorming sessions. But while innovation is indeed an important aspect for any business, how do you go about managing something that is, frankly, so nebulous? Greg Satell writes at Forbes about some concrete strategies you can use to harness innovation and capture the power it holds by finally understanding the keys to managing change and innovation.
SurveyMonkey CEO Dave Goldberg offers insightful takeaways for business development strategy taken from his rich experiences.
Dave Goldberg has seen a lot in his 20 years in the tech industry. Over the course of his career he’s taken a company public and sold it to Yahoo, and he has picked up a treasure trove of invaluable entrepreneurial experience and tips along the way. Goldberg, currently leading SurveyMonkey in his role as CEO, shares his sage wisdom for business development strategy in this article at TechCrunch.
Why what you don’t do is just as important as what you do in determining the next phase of your business growth strategy.
If you’re lucky enough, after all the energy you’ve invested in planning, projecting, and hustling to raise the capital to grow your business you might just find yourself with a heap of money but no real idea of what’s next. Contrary to what you might expect, this is the period that can make or break your company.
Don’t overthink your innovation strategy. Instead, consider these six “less is best” methods.
Matthew E. May of Strategy+Business offers six ways to improve your innovation strategy through adopting a “less is best” approach.
Learn the SaaS metrics that your business needs to focus on to determine its financial viability.
David Skok, entrepreneur turned VC at Matrix Partners, offers a guide to SaaS metrics in a post at ForEntrepreneurs.com.