1. Look for partnerships. Find a partner with a similar synergy – both should benefit from each other.
2. Organic. Organic growth is when your product satisfies the customer and they tell other people about it. Grow organically by giving your customers a good product to talk about – you benefit by word of mouth marketing.
3. Paid promotions and campaigns. Look at social media such as Instagram and Facebook, or launch competitions. Facebook has a lot of tools that can be used for campaigns. We offer a marketing course on the FinMeUp App to teach you more about marketing skills.
4. Innovate. Find the uniqueness in your product and talk to customers to fill a specific need. Find a problem and solve it.
5. Learn and Adapt. Talk to your customers and find out what your customers like and dislike. Build on the what they like and solve the issues that they don’t like.
6. Learn from competitors. Don’t ignore competitors but also don’t focus too much on them, rather learn from them. Look at what your competitors do and take notes and build on their strengths and learn from their mistakes.
7. Create competitive advantages. Focus on what makes your product unique and gives it the X factor.
8. Raise capital. Raising capital has both positive and negative aspects. The negative aspect is that you are giving away equity that you built yourself or need to take out a loan and repay with interest. But the positive aspect is that capital gives you power, you have the freedom to invest in new ideas, in your employees and in your product.
9. Invest in technology. In this ever increasing digital world technology is inevitable! You need technology to scale your business, invest in good technological features.
10. JUST DO IT! Take the previous 9 steps into consideration and just start. Trial and error and learn from your journey and previous mistakes.