According to Karl Andersson (co-founder Matsmart), growth is a drug. If you do not exceed last month sales, it does not feel good. Most entrepreneurs can relate to this, but it is easier said than done. However, after a day at The Next Web, we can establish a few key take-aways on how to maintain an exponential growth pattern:
Do your job
Strategy is extremely important if you are aiming for growth, because without one you might serve the wrong consumer, in the wrong place, and at the wrong time. Founders also naturally end up in a CEO position after firm growth, however, is this the position that suits you best? Payal Kadakia (Executive Chairman at ClassPass): “If you feel like you want to focus on executional things, hire someone else as CEO to involve in strategy”. Make a switch so that your skills suit the job.
Provide sufficient tools
Hire the best salespeople and your sales will be great… NO! Firms miss out on sales when tools are not sufficient. Nicolas Brumelot (CEO MisterFly): “tools you provide to sales employees should be simple in its interface, and should work sufficiently. Every technicality costs money. Invest in sales tools with which you enable sales employees”.
Package your product right
If you are selling a mouse, but package it as a product to use for tablets, chances are you might not succeed. Package the mouse as a product to use on your desk for a desktop computer, chances are people will see its value more easily. Still the same product, a different value package. Payal Kadakia faced this issue and found out about it by doing continuous surveys. Now, Classpass is a phenomenon in the US.
Passion is marketing
Ask yourself: would you invest in a product if the person telling you its story seemed unconvinced? Probably not. Often, it is not the product that lacks quality, it is the story that does. Gerald Naber (VP sustainable business at ING): “a pitch without passion is one I will forget”. Not everyone can bring the story across, so if you engineered a great product, but you feel like the lady at your reception desk can tell the with more passion, let her do it.