Every startup dreams of becoming a game-changer when it grows up. And, many startup founders dream of a scalable trajectory that leads them straight to a billion-dollar business that defines its niche. Listen, if that were easy, we’d all be doing it.
But, with more and more startups blazing trails by the day, it’s not impossible. What does the path to success look like in the startup game? These data visualizations give us some insight.
Start with the Basics
Draw a Business Model
Of course, any plot for world domination – of the purely entrepreneurial variety – isn’t complete without a solid business plan.
Find Product/Market Fit
Product/market fit – no business can do without it. But, there’s more than one way to find product/market fit. There’s the traditional way of finding a problem worth solving and creating a viable solution…
Then there’s the Lean Startup method, which bases product development on a series of hypotheses and experiments.
Uncover Your Unique Value Proposition
Once you have your product or service, it’s time to tell people about it – in a way that they really “get it.” Value propositions are complicated because so much rests on how well they’re put together.
They have to pass a few tests.
The most successful value propositions are focused on customer needs and wants; they need to include a strong understanding of buyer psychology.
Once you have that foundation, it’s time to put words on paper.
Time to Scale
At some point, you’ll have more customers than you know what to do with – and more coming in. That’s when scaling becomes imperative.
Of course, these elements are important, but there’s no guaranteed way to turn your startup into Silicon Valley’s next big thing. But here’s wishing you the best.