You set up your business to become a successful entrepreneur and increase profits. You iterated from Plan A, have a solid book of business but can sense stagnation lurking around the corner. What do you do?
You read. HBR, Entreprenuer, LinkedIn and Twitter all lend you a plethora of tactics and strategies to try, promising results. What do you try first? Unless you have plenty of time, money and patience to waste trying to master growth hacking strategies on your own, please consider fundamental building blocks first.
Block 1: S.H.I.F.T your mindset.
The first thing you need to do is to S.H.I.F.T your mindset. Marketing Science allows you take guesswork out of the equation so you can accelerate learning and make smarter business decisions; your ultimate goal should be to create your own Growth Framework based on user/customer engagement & sound sales and marketing strategy.
Block 2: Review your product/market fit.
One of the most important yet underultized elements of a Growth Framework is reviewing your product/market fit. Have you clearly identified that your product is the solution to a problem worth solving? Is your customer segment precisely defined? What feedback are you getting from your customers & are you making solid business improvements from the data you are collecting? Knowing the answers to questions like these can mitigate risk and give you confidence to move forward.
These are only two building blocks of a strong Growth Framework. If you’d like to learn more about how to apply our sales, marketing and business development strategies to your product or opportunity, start a conversation by posting your question below!
Joy & Coffee, Michelle