How To Grow Your Startup

💡 Tip 1: Monitor Your Startup Strategy

  • Choose your metrics — This includes your milestones (the execution of a work by a specific deadline) and quantitative performance indicators (such as profit and revenues).
  • For tracking — Performance dashboards are a great way to keep track of your key performance indicators (KPIs). It can take many forms — it can be as simple as whiteboards or an electronic screen.
  1. Financial Metrics: Revenue and profit margins are often the focus of KPIs connected to financials.
  2. Customer Metrics: Customer-centric KPIs are typically concerned with customer efficiency, experience, and retention.
  3. Metrics for Process Performance: Process metrics are used to track and measure operational performance across the company.

📌 Note

💡 Tip 2: Not to Sell Too Many Products

  • The Pros — There is focus and a great niche, and you can develop your product quickly rather than splitting your efforts. There is a high conversion rate as well!

📌 Did you know?

  • The Cons — You’ve got a lot of pressure on your shoulders. When you just have one product to market, you rely entirely on it. There are fewer repeat customers and fewer marketing opportunities too.

Honestbee Case Study 🐝 Takeaway

💡 Tip 3: Keep an Eye on Your Competitors

  • Identify competing startups in similar markets.
  • Hunt for critical financial data on them — this includes the amount of capital raised, revenue, pre-and post-money valuations, financing history, deal multiples, and series terms.
  • Determine the investors behind a competitor’s funding round(s).
  • Keep tabs on your competitors’ internet influence. For example, Sprout Social helps a company manage its social media while emphasising competitive analysis. SEMrush is an SEO tool that allows users to check the health of competitors’ websites.

💡 Tip 4: Establish Partnerships

  • Begin with a win-win mentality built on thinking a few steps ahead of time.
  • Have a clear vision for the company, its network of relationships, and how they all work together to help it expand.
  • Be clear about what you can provide and what your partners can provide.

💡 Tip 5: Evaluate Results

About Why Startups Fail Newsletter




BlackStorm is boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Hispanic Heritage Month: Celebrating Latinx Entrepreneurs

6 Signs That You’re Ready to Exit Your Business

Reinventing the problems to understand the solutions we have today

Unlock Vision’s 1st birthday :-)

Good-Bye, Overdue Receivables

One of the many times I failed in business

A Sit Down With Craig Kotter, A Self Made Millionaire


Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
BlackStorm Consulting

BlackStorm Consulting

BlackStorm is boutique growth consultancy firm that specialises in corporate strategy, profit management and investment management.

More from Medium

The Need For Marketing 3.0 — Changing The Marketing Mindset With Changing Times

Why Your Marketing Messages Should Be Short

Multichannel Marketing: What Is It? Why Does It Matter?

Don’t Know How to Catch Leads? We Gotchya!

Lead Generation