7 ways to improve startup success rates…

May 22, 2014 Mac Lackey

Things to consider to improve your company’s or startup’s success potential:

1. Don’t try to outrun Amazon and others on “price.” Differentiate on something customers value (other than price). You’ll lose the price war.

2. Focus on large markets.

3. Make it viral if possible (your first customers are your best salesmen).

4. Run lean so you remain flexible (cash STILL is king).

5. Think “brand,” not commodity (and make sure your customers know what your brand stands for).

6. Make customer service and customer experience great.

7. Get the very best people (and incent them on the metrics that matter – EBITDA, customer acquisition costs, conversion rates, etc.).

Make sure you have these right, and challenge yourself and your team to reconsider your score on these items often.

Send me more… Let’s discuss what else you have seen or tried that works. I’ll try to comment and respond to the best ones.

 


 

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