The Better You Know What

The chance is virtually nil! Every year many thousands of entrepreneurs start their own business in the hope that it will become an unprecent success. Unfortunately, the figures show a different picture: more than half of the new companies do not make it past four years. How do you prevent that? A unicorn may be a magical and rare phenomenon. Research shows that these types of unprecently successful companies do have a few things in common . We’re going to look at three of them. 1. Unicorns have a clear growth path in mind The first step on the road to a fast-growing company is a very basic one: create a growth culture within your company. To do this, you set goals where you want to be in terms of turnover and number of employees in one, three and five years.

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Hire experienc people and look at what you ne now and in the future. A good example is supplier of payment software Stripe , which achiev unicorn status in 2014. Stripe CEO Patrick Collison says: “Your company is only worth something if you continuously perform well.” In other words: an ambitious company must constantly UAE Phone Number List look for new opportunities to innovate. Leaning back smugly is the death knell for growth. Research shows that 60% of entrepreneurs are actively trying to grow their business, while 36% want to stay at the same level and 4% would rather downsize. But even when you strive for growth as an entrepreneur, there are all kinds of imping factors.

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Sustain financial growth is a concern for 68% of growing SMBs, and 58% are concern about meeting customer expectations . 2. Unicorn companies use technology to automate and expand Growing companies are much DV Leads more likely to use software and technology to expand and generate more revenue. For example, growing SMBs are 139% more likely than stagnant/shrinking SMBs to say that a Customer Relationship Management ( CRM ) system is a good tool to attract new customers. They say that about marketing automation 44% more often.

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