Top 5 lessons learned from growth companies
In this crazy environment, we are all looking for inspiration, validation and tips to make our organizations better.
Earlier this week, we had an internal strategy meeting and one of our team members (Pam Device, or @pamelacdevine on Twitter) brought in an article from Financial Executives International titled "Common Threads of Startups for Driving Growth."
I think this has some great tips and lessons to think about. Here are the five lessons learned from growth companies:
- Tailor your product to 1 million customers (that means systematizing your business processes).
- Lock in your customers for the long term and keep renewing the relationship.
- Create more network value than competitors.
- Reinvent the business from the customer perspective. (We say customer / member focus, not product focus).
- Use peer pressure to sell your products. (We say use testimonials from raving fans and don't forget to use social media as a powerful amplifier.)
Pam, thanks for sharing!
Our team thought these were on target. What do you think? Any additions or comments?