The Four Pillars of Startup Growth

There's no magic recipe for startup growth, but there are four essential pillars that every startup should focus on. In this blog post, we'll explore what those four key building blocks are and how you can use them to grow your business.

So whether you're just starting out or you're looking for ways to ramp up your growth, read on to get started on the right foot

Brilliant basics

Every business has key activities that are essential to its success. These activities could be anything from developing a new product to increasing market share. Whatever they may be, it's important to set KPIs (key performance indicators) against these activities in order to track progress and identify areas for improvement. 

However, it's also important to be honest about this progress. Juking the numbers might make it look like everything is going according to plan, but it won't do anything to fix actual problems. When results are poor, it's important to take a step back and assess whether the current strategy is still viable. If not, then it's time to make some changes. 

By fostering a culture of honesty and accountability, businesses can ensure that everyone is working towards the same goal. And while there will always be successes and failures, owning them as a team is the best way to move forward.

You've probably heard the saying, "Keep it simple." When it comes to business, this is sage advice. Too often, companies try to be all things to all people and end up becoming bogged down in complexity.

A simpler approach is often more effective. Focus on a few core activities and measurements and build your business around them. Keep your plans simple and easy to execute. By streamlining your operations, you will be able to better compete in today's marketplace. 

Business intelligence is critical for any organisation that wants to stay competitive. To be effective, business intelligence must be based on reliable data sources and KPIs that are meaningful to the organization.

Furthermore, the process of gathering and analysing data must be well-documented and disciplined in order to ensure accuracy and accountability. 

When used effectively, business intelligence can give organisations a significant advantage in the marketplace. As such, it is essential for any team that wants to be successful.

Know your users

If you're working on a new product or service, it's important to get feedback from your target market as early as possible. This will help you ensure that your product is meeting the needs of your users, and it will also help you to identify any potential problems.

There's a big difference between making a simple product and making a product simple

- Des Traynor

^‍There are a few key ways to do this:

First, seek out opportunities to engage your users in key moments of their journey. This could involve conducting user interviews, observing user behaviour, or even just asking users for feedback on specific features.

Second, ensure that insights from your user research are fed into marketing and product development. This way, you can make sure that your product is being built with your users' needs in mind.

Third, prototype and usability test as early and often as possible. Early assumptions are important for getting started, but don't lean on them too hard - be willing to iterate based on feedback from real users.

Finally, be your own user! Make sure you're using your product regularly so that you can identify any potential issues firsthand. By following these tips, you can make sure that your product is user-friendly and successful.

Do more with less

Breaking large tasks or objectives into smaller, more manageable pieces is an effective way to stay on track and make efficient progress. But it's not enough to just break things down into smaller steps--you also need to be thoughtful about prioritising those steps.

What needs to be done first? What can be put off for a later date? By taking the time to rigorously prioritise your work, you can ensure that you're always making the most efficient use of your time. And once you've identified your priorities, it's important to set milestones against them so that you can track your progress.

Regularly reevaluating your priorities is also essential--plans can change, and it's important to be flexible in order to adapt to new information. Lastly, involving engineering teams early in the planning process can help to ensure everyone is on the same page and working towards the same goal. By following these steps, you can effectively navigate constraint and make real progress on large projects.

Run smart experiments

There will always be questions facing your business that you don't have the answers to. That's why it's so important to design experiments to answer those questions. Rigorously designing these experiments is crucial. You need to build a hypothesis on the best available information, then try to disprove it. And statistical significance is key: you should aim to be 99% confident that what you're seeing isn't the result of random chance.

Every opportunity is a chance to test something new, whether it's ad creative, landing pages, onboarding journeys, or the in-product experience. The more you test, the more you'll learn about what works for your business. And sharing those learnings with the wider team is essential for keeping everyone on the same page and moving forward together.

Seize every opportunity to test everything from ad creative and landing pages to onboarding journeys and the in-product experience. And don't forget to share your findings with the wider team so that everyone can benefit from your new knowledge. By following these steps, you can ensure that you and your business are always growing and learning.

• List out big questions facing your business and design experiments to answer them
• Design these experiments rigorously - build a hypothesis on the best available information, then try to disprove it
• Remember statistical significance! Aim to be >99% confident that what you’re seeing isn't the result of random chance
• Seize every opportunity to test everything from ad creative, landing pages, onboarding journeys, and the in-product experience

Every opportunity is a chance to test something new, whether it's ad creative, landing pages, onboarding journeys, or the in-product experience. The more you test, the more you'll learn about what works for your business. And sharing those learnings with the wider team is essential for keeping everyone on the same page and moving forward together.

Go get it

If you want to be successful in digital marketing, it’s important to remember the four pillars of success: get the basics right, be efficient, do more with less, and run smart experiments.

These principles may seem simple, but they are essential for any business looking to succeed online. If you want to learn more about how to apply these principles or need help getting started, don’t hesitate to get in touch. We would be happy to share our expertise and help your business grow. Thanks for reading.