Kiley Doll, Goodman Lantern
A whole lot of business fail and crash because of the same mistakes. These are so common, it’s hard to believe that errors like this still happen. Growth hacking, when done right, grows the number of repeat clients.
When people buy from you more than five times, it shows that you’re attracting and keeping clients. Every business has to examine if they are committing these three deadly sins:
- Nobody Cares
You are the only one who loves your idea. You alone see it’s full value and potential. If you can’t communicate that vision and create demand for your product, you will fail. Nobody else cares yet.
Startups have failed because they spent time and money on a product that nobody wants or needs. It’s impossible to sell something nobody wants. The wisest way to approach your product development is to test everything. If you find an aspect doesn’t work or isn’t wanted, fix the issue. In short, start by actually being valuable to your clients.
- Try New Things
Growth Hacking is all about attaining stability in your business through growth tactics. Some businesses think they have to put their entire budget into growth hacking. Many of these go out of business. You have to budget for your growth in a strategic way. Put capital aside to cover the cost of changes and supportive strategies.
It’s better to prepare your business for success from many angles. Stay true to the Growth Hacker ethos of cross-platform excellence. You can have more than one solution if they work well together. You’ll discover which avenues fail, and have others to fall back on that work better. Test everything.
- Go Big or Go Home
Every businessperson wants to reach the levels of the big corporations of the world. It’s normal to crave the top prize, but must be done right. If you expect viral status right out of the box, you will be disappointed.
You have to set steady, reliable goals for your growth. Realistic, attainable steps allow you to track your growth and maintain forward momentum. Reach smaller milestones more regularly. Continually experimenting with the best approach will keep your business alive.