We see it in our clients: the race for growth is not easy. If you take your foot off the gas, you can jeopardize the sustainability of your start-up.
Growth can be frustrating. Even if your innovative offering is great and your strategy is on point, your growth will inevitably hit setbacks.
Maybe this is even what is happening to you right now?
To reduce the risks, here are 6 reasons that can stop the growth of your start-up.
1. The Economic Crisis
I can see where you're going: "The crisis is a convenient excuse!"
As an entrepreneur, we often tend to limit the impact of an economic crisis on the growth malaysia email list of a start-up. However, the economic crisis explains 13% of growth reversals .
The good news here is that the economic crisis is the only reason you cannot control. For the following reasons, you can take action to limit the risks of stunted growth.
2. Lack of Skills
Growth means recruitment. Each of your recruitments is designed to generate more growth for your start-up.
Problem, as a start-up, you have to recruit quickly and well . You have to recruit urgently but you have no right to make a mistake. All this while dealing with fierce competition for the recruitment of the best profiles.
You may have the right strategy to generate growth, but if you don't have the right skills to carry it out, things will get stuck.
Do you want to generate more growth for your start-up? What if you switched to inbound marketing?
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3. The Arrival of a New Competitor
As a start-up, you are well placed to know that a dominant position in a market is never definitive.
There is no shortage of examples here to illustrate the impact of a new competitor on the growth of an innovative company. I am thinking for example of Nokia and the smartphone market, I am thinking of Take Eat Easy and meal delivery…
Even startups can get Uberized !
According to the Innosight study already cited, 75% of the companies present in the famous Fortune 500 will no longer be there in 13 years. For comparison, the lifespan of a company in this ranking was more than 60 years in the 1950s...
4. Slow Innovation Processes
It's relatively easy to innovate when you're starting out.
On the other hand, when a start-up develops, it recruits and structures itself, thus reducing its ability to develop innovations quickly. R&D management becomes a crucial issue in the growth of a start-up.
5. Lack of Responsiveness in Decision Making
Likewise, making decisions when you have nothing to lose is relatively simple.
On the other hand, depending on fundraising , recruitment and market share gained, making a strategic decision can take time. A lot of time.
However, new players do not have this problem and require you to act quickly if you even want to maintain your growth.
We see it among our clients: when we might expect rapid decision-making based on the DNA of start-ups, we often find ourselves faced with decision-making processes worthy of the most historic institutions...
6. Failure in a new market
Generating growth for your start-up means trying to invest in new markets. Both geographical and technological.
Here too, you have to act quickly and try things so as not to jeopardize the sustainability of your start-up. Conversely, failing in a new market can negatively impact your growth curve.
6 reasons why your startup is no longer generating growth
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