Things to Learn From the World’s Fastest Growing Startups
Gone are the days when all we craved for is a secure job with a steady income. We were happy with our cute little feature phones and sturdy old desktops; anything beyond that was a pomp and show.
But in every sphere of economic activity, evolution is inevitable. The present generation believes in taking risk and exploring new ventures. It is the era of smart work, not hard work.
Every other person wants to establish his own business; a nine-to-five job obliterates creativity. For this reason, the startup industry has gained momentum at soaring rates. But then again, not everyone of them comes out victorious.
We tried to dig in deep as to what could be the most fruitful path to emerge as a successful startup. So we decided to conduct a detailed research on the most moneymaking startup ventures of today. We shortlisted a few names such as Hubspot, Uber, Snapchat and began with the process.
After rummaging the Internet for interviews, success stories, videos, past profiles, we were able to collect a good amount of data on each of these case studies. Based on our R and D, we were able to derive a pretty reliable conclusion on their work methods and the ultimate success.
Although, the derivations made by us may not be 100% accurate, the feedback and appreciation received from our viewers and readers holds positive enough for us to continue our modus operandi.
So based on our legwork, we have jotted down 8 lessons we learned from these booming companies. These lessons will work as an immensely motivating factor for the early birds in this area.
8 Lessons to Learn from the World’s Fastest Growing Startups
Growth is an everlasting phenomena
The key idea is to have an unprecedented lust for growth. All the top-notch startups invested resources, hard work and head count into their ventures.
Among all these too, LinkedIn stands out of the crowd. With more than ten years of continuous growth, LinkedIn is the perfect example for the fact that growth is never ‘done’.
Marketing is important, but it’s not everything
One of the most note-worthy factor among all these startups is that marketing was not considered the ultimate driving force. They focused more on the product than investing millions on the traditional marketing strategy including e-mail marketing and paid search.
Not that marketing isn’t essential, it most definitely is. But so are product and engineering
Laser-focus on your niche
Be it Snapchat with teens or Square with small scale businesses, all the bigshot startups realized the importance of putting more wood behind fewer arrows. It is very important to be focused at your aim than trying to expand haphazardly, without any plan.
Think beyond the conventional
HubSpot made it unique by charging for upfront on-boarding. People rebuked its approach. The success HubSpot achieved speaks for itself now.
You will see all these fastest growing startups picking their own path. They were mostly castigated for their out-of-the-box thinking, but this didn’t stop them.
HubSpot was the among the first ones to realize the impact of free tools on inbound demand. For this reason, the company got over with the traditional content tools and strategies.
It is very essential to invest in long-term benefits, instead of lamenting over short-term losses.
Learn the difference between Analytics and Insights
People invest a lot of time in analytics- dashboards, vanity metrics and all that. This is sheer Data Puking. What matters is the insight within the numbers.
Almost all these cutting-edge companies didn’t just report on numbers. They derived growth opportunities from these analytics and adequately applied them in their structure.
Team spirit is the standing pillar
Growth can never be achieved single-handedly. All these growth organizations have an intertwined DNA structure. The driving force of these companies is such that every employee is deeply rooted in the organization, as is every organization deeply rooted in him.
In all these leading-edge companies, all the departments are inter-dependent, and in a harmonious way. The Engineering Dept doesn’t belittle Marketing, nor is Sales firewalled from Product.
Growth is never ever left to chance
You might think that these companies just got lucky; that they were born with a silver spoon. Well, not really.
Adaptability is the key to reach at the top of the ladder. Even the most amazing products we see today have a meticulous strategy behind them. They didn’t just happen to be a blockbuster. They were designed and forwarded in that way.
Such companies may seem to have caught lightening in a bottle, but the toil and dexterity behind their triumph often goes unnoticed. Hence, trying to locate a silver bullet which will explode into millions of users and likes is a bad idea. Be ready to exploit your strength.
After such an extensive research on these top-notch startup successes, it gets very difficult to shortlist such a minor number of principles. But these canons are the ones that stood out common among all these case studies.
What is now required on your part is to profoundly understand and implement these lessons in your work culture to obtain maximum results!