Recipe 9 - Know Your Growth Strategy

Choosing the right growth strategy for your Start-Up can be a “make it or break it” decision. Choose wrong and you spend critical months chasing your tail while running out of cash.

Growth means you can not only increase revenue but also create new opportunities, scale to other markets, enhance brand reputation, attract investors to raise capital, and improve employee satisfaction. Growing strategically is an essential component of business success that can be overlooked in the rush of getting started; over time, it will be critical for your company's ability to achieve and sustain long-term goals.

You have options when it comes to introducing your market to your company and options; only you can determine the optimal approach given your goals, resources, and capabilities. There are also elements you’ve developed throughout the SavvyX process that can help make that determination, such as core values, stakeholders, and even customer urgency.  

In Recipe 9, you will identify and select the strategies you want and can implement for your company’s launch to the market. Your choice depends on your company's business objectives, resources, and capabilities.

• Recipe: Growth Strategy, to use insights from previous Recipes as a base for leadership discussions, choose a funding model(s) for your Start-Up, review your business goals and objectives, decide what growth strategy best fits your Start-Up, business goals, and capabilities, and review and strategize how to address churn.

• Template: Growth Strategy, to document potential acquisition strategies and growth strategies, ARPU/ARPA/ARPC, CAC, growth types, uncontested category, customer retention plan, churn monitoring and prevention plan, and expand current customer plan.

Note: as a subscriber, you will be able to access refinements as well as additional Recipes and Templates as they become available in the future.

This Recipe is part of the SavvyX program bundle: Subscribe or purchase here