10x startups growth - a business coach can help

10x growth as a startup is a very common phrase and I believe that everyone can relate to that. It comes from the term, “growth with acceleration” and has to do with taking advantage of assets that you can use in order to reach your goal faster.

Now, a lot of people who are interested in starting a startup are thinking about taking the time to do some research. They are interested in learning how their chosen business idea is going to work, what the competition is, and if there are any possible advantages. The problem is that a lot of people do not do enough of this type of research before they start to attempt to scale their business. They do not have a complete picture of their future business or company, and they don’t realize how important it is to make the most of every single opportunity that comes your way.

Use the leanstack process - a leanstack coach can help

Research, experiment and learn

The first thing to remember is that you will need to invest a certain amount of time to experiment and learn everything you can about your business & more importantly, your target customers. While you might not be able to do the type of analysis that you would want to do in a few months or a year, you will find out a lot of interesting information in just a short period of time by keeping a metric board of the key drivers behind your business and sales funnel. By spending the time researching and measuring, you will learn a lot about your business, and you will gain a good understanding of the type of market that you will be competing against and how your start-up is performing. Of course, the best way to learn about this is to actually do the research. There is a lot of value in spending time doing research because this will help you come up with the right type of plan for your start-up’s growth.

Once you understand what type of market your own startup is going to be facing, you need to decide on what type of business model you are going to use. There are so many different things that can be done as far as businesses are concerned, but you should always use one particular concept so that you can get the most out of it. That being said, it might not be as complicated as you might think.

One thing that you can do is to make a list of the metrics that you will focus on, like Pirate metrics (acquisition, activation, retention etc) and other aspects that make up your sales funnel. This will give you an idea of where you will need to focus on your business. In fact, once you’ve made this list, it will be easier for you to focus on the constraint that is holding you back from 10x growth.

how do you measure your business? a leanstack coach can help

Pirate metrics — develop a measurement culture

Of course, you need to understand that you will have a lot of competition when you start a business, so you need to make sure that you are ready for the challenge. You should start looking at all of the opportunities that are available to you. If there are a lot of them that you are interested in, make sure that you take the time to do the necessary research, to learn about those opportunities for growth and understand how you can leverage these.

The last thing that you need to do is find out what kind of resources are available to you. These can be books, magazines, newspapers, and any other type of publications that have to do with your industry. But beware, there is a lot of conflicting information in the market so ensure you only refer to information from a credible source or even better hire a start-up coach to help you to navigate the journey.

These are only a few of the ways to make sure that you are prepared to deal with the competition that is out there as you head towards 10x growth. These are ways you can prepare yourself for the challenges that are out there as you grow from 1 customer to 10 and beyond.

In the next article, the focus turns to how to make evidence-based decisions.