Are you familiar with the concept of Growth Hacking? And, did you know that there’s an entirely new job title called ‘Head of Growth’?
With this in mind, it’s safe to say that an effective growth strategy is critical to success.
So, that leaves the question...have you a Growth Plan yet??
If not, I’d like to share some reasons why you’ll want to create one.
Firstly, you’ve probably heard about those businesses like Airbnb that ended up growing to incredible heights. The reason for their massive growth is a constant stream of innovative ideas. Pretty much everyone who saw some of Airbnb’s marketing thought, ‘Wow, that’s smart.’
To grow your business, you need to keep implementing one innovative idea after another. And this is only possible if you have a clear growth plan in place.
A lack of such a plan makes you try a bunch of different things, hoping that they’ll work. As a result, you'll have massive spikes and drops in your customer base.
You’ll have a business that’s not sustainable.
Another reason why you must have a growth plan has to do with investor funds. As a start-up, chances are that you’ll need funding at some point.
Make no mistake – investors receive tons of new ideas every day. And you must do everything in your power to make sure your idea stands out.
More importantly, investors want to see momentum. They want to see consistent growth over a period of time. Otherwise, they’ll think that investing in your business is too big of a risk.
A growth plan can prove otherwise. You’ll show investors that you’re reliable, which will go a long way to getting you the funding you need.
As you can see, a growth plan is critical for many reasons. Develop yours as soon as you can, and you’ll build a promising foundation for growth.
Howard ‘Growth Hacker’ Kingston
P.S. Whenever you are ready, here are 3 ways we can help you become a Digital Marketer:
Published by: Howard Kingston in Uncategorized
Tags: Lessons for Educational emails and Tips for Growth Thursday, success stories for student case studies