The stereotype about successful entrepreneurs is that they have the most fearless enthusiasm towards their venture. But, it is nothing more than a myth. Setting up your own Business is a road pathed with traps and dead ends. Failure is the biggest fear of these entrepreneurs and to escape it, they are ready to take all the precautionary measures. Among their wildly practiced activities, we came across some great growth hacking tips.
According to experts, most startups fail because they are not aware of the right ways to nurture their baby business. We cannot blame a person for not knowing every trick of the industry; it is not really possible to sneak into all the corners of business building. However, being an entrepreneur, one has to break all the stereotypes and sometimes, one even has to do something that has never happened before. After all, this is the definition of an entrepreneur, a young mind with loads of innovative ideas.
Also Read :
1: 7 Burning Hot Growth Hacking Tips for Entrepreneurs
2: 27 Content Marketing Growth Hacks to Leverage in 2016
3: 6 Best Growth Hacks to Retain Your Customers without Paying Much
So, to help you become the master of your business, here we have some easy yet effective growth hacking tips for your business’ health:
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1. Visualize the Gap
A few century back, when people had cycles, they never thought of something like an airplane, until Wright brothers came with this miraculous invention. Now, some of us cannot even imagine life without flying to places. Of course, it is easier, quicker, and an a rather cost-effective way to cover huge distances.
What we want to say is – customers are satisfied with what they have until a great mind comes with a better and affordable option. So, the crux is that you have to come up with something that makes the lives of your customers easier and better.
Let’s take the example of growth hacking. Digital marketers were satisfied with their slow and steady growth till the time Sean Ellis came with this buzzing new term. See the big difference between now and then!
Now there is no sweeter word than growth for the marketers. Once satisfied with digital marketing, the business owners are eagerly looking for a growth hacker who can skyrocket their company growth. Well, it is a mere example; the hunt for a quick and swift result is on such a stage that one innovative idea of yours can let you have all the aces.
2. Worthiness of the Product
The second growth hacking technique is knowing the worthiness of your product!
Sandi MacPherson, Editor-in-Chief, Quibb says, “I spent 6 months building a product I wouldn’t use very often, in a market I wasn’t familiar with, for users I didn’t understand – big mistake.”
The story of Sandi is an inspiration to the new generation entrepreneurs. Just because your mind is struck with a unique idea, does not mean the customers are also going to like it. You have to get back to your potential customers for knowing their needs and demands.
- Are they going to accept your product?
- Are they ready for this change?
- Is the new product within their reach?
These are some questions that you need to ask yourself before investing millions in your idea. Learn about attributes and levels
and do lots of market research to ensure that people will buy your product. It will help you figure out what will work for you and what not. The growth hacking technique here is to – become the product expert. Make sure you peep into all the aspects of product creation.
3. Add the Best Emotion
Can you guess the major difference between all the top social media platforms that we have today? Even though all of them serve the same purpose, there is a huge difference between their popularity, way of work and, of course, user satisfaction.
Let us start with the example of Facebook. When Mark Zukerbuerg made the biggest innovation of the era, perhaps the only thing that drove him was the urge of communicating with everyone at any time. He excelled with his idea and the world was united through one platform that we today call – “Facebook”. Today it has over 1 billion users around the world.
Following his idea came Twitter, Pinterest, LinkedIn and last but not the least Instagram. Hats off to the founders of Instagram Kevin Systrom and Milke Krieger, who turned their pared-down photo app into the multi-billion social media platform. Now, this is what we call growth hacking.
They picked the same idea, added a fun side to it and won the heart of the users globally. The whole idea is about getting on the minds of the user.
The bottom line is – pick something that rules the mind of the users in the most positive approach.
4. Set a Goal Plus a Limit
So, now that you have decided on the product as well as the emotion and measured it with customer’s rating, it is the time to set your goals as well as your boundaries.
Your goal might be to learn about Franchising Your Business, or it could be about hitting a certain target within a time frame. In fact, being bound by time is a great way to reach success. You would have heard the saying “time and tide wait for none”. So, this is the time to know the actual meaning of this much iterated phrase.
We call it a growth hacking technique, but you will be amazed to know that this technique has ruled your life ever since your childhood.
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Do you remember that last minute cramming during your exams? Yes, it is a growth hacking technique that is secretly ruling your life ever since childhood. It is just that you have to revive it in order to use it more effectively.
So, set yourself under the boundaries of time and start working to meet the deadline. Some successful entrepreneurs mark it as their most effective tool towards growth. Once you know what you have to do and till when you have to do, the brain acts accordingly and you might receive instant results.
5. Develop a Mobile Presence
No wonder what product you are dealing in, growth is always led by the harmonious combination of technology and marketing. Let us say technology is your product, what marketing strategy you will follow.
Well, it can be anything that has its web presence. If we go by ranking the top marketing apps, mobile marketing will be in the first place. There is no growing without being available on the mobile searches. You have to be on the top searches whenever the customers search for the service related to you.
Suppose you are growth hacker who provides growth hacking services in the USA. So, whenever a customer looks for you on the web, he should easily find your name in the top searches. So, get a mobile responsive website, SEO it, and rank on the top searches of Google.
6. Divide the Job
We all know that entrepreneurs love doing multiple things together!
Being so innovative or say, workaholic, it is quite normal to do multi-tasking, but you cannot afford to do everything on your own. This is the biggest reason for the failure of many start-ups.
The founder of KISSmetrics says that the biggest mistake of his career was “Spreading myself too thinly over too many projects”
So, the growth hacking technique for you is – divide it wisely.
In the first instance, you need a team! A trustworthy and capable team!
Rely on your team for jobs that do not need much of your attention and concentrate on the jobs of higher priority. It is a way to ensure that you are investing your energy in the right place. By concentrating on one place at one time, it becomes easier to grow faster and we have a great example in the form of KISSmetrics.
7. A Great Database
When you trade in the online marketing world – a great database is the essence of it. After all, no customer is a small customer and you cannot afford to ignore any of them.
Especially, if you are trying the above-mentioned growth hacking tips, it is for sure that you are going to see some whopping growth statistics in the real future. To maintain such a big database, you are going to need a high-quality database system
Having a good database also ensures that you know as well as fulfill your customer’s need. Anticipating that the growth is rapid, you really have to be careful with the database management. Take your time and concentrate on this growth hacking technique with due diligence.
If done correctly, you are going to attain some great results within a short period.
The keys to these tips? Whatever you think should be out of the box. There are no rules and, no obligations for a growth hacker. Any positive step that hits the market is a bang on for your business. Therefore, being an entrepreneur, you have to be innovative, creative, smart as well as fun.
So, take a cue from here and begin your journey of success powered by bliss!