5 IT Start-Up Growth Hacks To Follow In Modern Business World

A startup sounds like the best thing in the world but if experiences of successful and struggling entrepreneurs are to be considered then it is one of the toughest things to do in life. Many opt for this life because it offers freedom and an opportunity to explore more dimensions. Moreover, the feeling of being able to monetize the activity that you love the most is amazing.

In the competitive world of startups, one can stand out by having a mobile app with the best utility features. While many have already taken a step in that direction, some are on the way to make their mark in the digital space. A few growth tips for startups adopting mobile app development include choosing the right platform – Android, iOS, or both -, features to be offered in the market, and emphasis on IT security.

Additional hacks that an IT Startup must follow to be successful in the modern business world are as follows:

Focus on firsts

The firsts are always special. Finding the first person who shares a similar goal or someone who believes in your dream is a golden moment. However, during this golden moment, one must not get over-excited and lose the grip over reality. One small mistake can affect the business’s future.

Getting the first co-founder affects how your business would be run. Finding an investor for the first time would decide how much control you would retain over your company. In terms of hiring, the first set of team members would determine how far your company would go. It is normal to take some time and finalize the list of candidates for the above-mentioned roles.

Don’t rush to make a decision. Everything done in the present determines the prospects of the company.

Target and market

The key is to know who are going to be your customers. A list of customers can generally be divided into two categories namely residential and commercial. In technical terms, a business may either be B2B or B2C. The list will have names depending on what your product or service is. You may have cab service as your primary offering. It can be offered to corporates who look to extend transportation facilities to their employees.

Initiate the process of selecting a marketing tool after you have decided who your customers are going to be. In continuation to the example of cab service, you may want to advertise on LinkedIn. The platform lets different professionals connect and expand their networks. It has now also started to let a user advertise their profile and posts.

Other marketing tools that can be considered are social media, newspapers, and magazines, to name a few.

Predict and calculate

No matter how much one plans, the element of risk can not be avoided in the world of business. It is a fun part that often scares every entrepreneur the most. It must be predicted as often as possible as it is an unavoidable and obvious part of the process. During the times when trends evolve faster than expected, the risk to fall behind the competitors is much higher.

It can either be from the internal perspective or external factors. The internal risks involve theft by employees, disloyalty by co-founder, or sudden change in terms & conditions of an agreement. These can be tackled with ease as compared to the external ones that include data theft, hostile takeovers, and copyright issues, to name a few.

The confidence of every other party involved shakes if the cases rise enormously. The ability to adapt is yet another factor that counts while predicting and calculating risk factors.

Review budget

It is easy to lose track of how much money has been spent or how much money can be spent. This happens the most when an idea fascinates the team a lot. However, investing funds in a project without not reviewing the existing financial condition can harm the startup. The convenience of being able to function the planned project must be considered. The degree to which the achievement looks realistic is important too.

Schedule a meeting with all the department heads and discuss the idea to opt for the best mobile application development services. There is a possibility that one department might want additional funds to function better. The finance team, at this point, plays a very important role. Since they are continuously in touch with the financial reports, they help better with the figures that can be dealt with by the company.

One must consider expenses too while considering the revenues. Inflation fluctuates every day and this affects how much money is spent on variable expenses.

Optimize

We live in a time when the internet rules the market. This calls for the digital presence of a business by having its website or mobile application. Getting it developed is the first step and optimizing it is the next & main step. The concept of Search Engine Optimization, or SEO, plays a very important role. It helps a business get its website rank higher on a search engine. This generates more impressions for the business, more leads, and higher chances of conversion.

Device compatibility is a silent feature that comes in handy. Many internet users search a query through mobile devices. The higher the compatibility of the website, the higher it ranks on the search engine.

Having said that, it seems evident that a mobile application is a way to effectively mark the presence of your brand on the internet. The convenience to access the information and get in touch with the company makes a mobile application the most useful tool of a startup. Therefore, a startup may want to hire a professional app development team.

These hacks have turned out to be very useful in the majority of the cases. They may vary based on the circumstances of a startup.

Leave A Reply