The end users of your product or service are not necessarily the ones making the purchasing decisions, particularly in larger organizations. There are often several groups of influencers, decision makers, purchasing agents, and end users who are involved either directly or indirectly in purchasing decisions.

Marketing to Different Groups within the Customer’s Organization can Unlock New Buyers

In most industries, all of the competitors market to the same group within the customer’s organization. Sometimes there is a practical advantage to marketing to that specific group. But often it is just a tradition that has never been questioned.

Challenging these traditions can give you a chance to appeal to a new set of buyers with a different set of values and priorities that may align better with your product’s unique strengths.
-The Startup Daily

To achieve sustainable growth, new customers must come from the actions of past customers. There are three primary engines of growth that allow for this.

The paid engine is the traditional way businesses are built. A business spends money on advertising to buy new customers.

The Sticky engine of growth turns existing customers into repeat customers.

Finally there is the viral engine of growth. New customers are generated automatically as a result of using the product.

The Metric Your Business Should be Focused on Depends on Your Primary Engine of Growth

Businesses using the paid engine of growth must understand their customer’s lifetime value as well as the cost of acquisition of new customers. The margin between these two metrics determines how fast the business will grow.

Viral businesses must track their viral coefficient, or the number of new users that each existing user brings to the product. Viral growth requires a viral coefficient of greater than one.

Those using the sticky engine of growth must focus on increasing the customer retention rate and reducing customer churn.
– The Startup Daily

With all the choices customers have today, the act of making a purchase must be as simple as it can possibly be. Far too many businesses throw up obstacles at the point where customers are ready to buy, especially online.

Common examples include forcing customers to fill out sales forms, create an account on your website, contact you for a quote, or give up any information beyond the minimum required to complete the sale.

Every Hurdle a Customer has to Jump Over Results in Lost Sales

Many customers are going to choose the product or service that is the easiest to buy. That means the option with the fewest number of steps, smallest amount of friction, and to an increasing number of customers the least amount of interaction with real people.
– The Startup Daily

Seek out stories of others who have had the kind of impact and success you wish to have. Not only do these stories contain valuable lessons, but they can also act as fuel to keep you motivated.

Let the Energy of Other Motivated Entrepreneurs Rub Off on You

Imitate their success strategies and let their determination, perseverance, and adaptability act as an example.
– The Starup Daily

You don’t need as much willpower to accomplish a challenging task if you have the right timing.

It’s all too easy to give up on something during the most difficult period, but this is also when you are most likely to make a decision you will regret later.

Don’t allow yourself to quit when you are most vulnerable.

Schedule a Time When You Allow Yourself to Second-Guess Your Commitment

Choose a time when you know you will be in a rational state of mind. Then, commit to sticking with it until the predetermined decision time arrives.

If you do decide to quit, you can be sure that you are making a strategic decision and not just having a momentary lapse of willpower.
– The Startup Daily

One of the most energizing and clarity inducing activities you can do is to clean-up and organize your workspace, home, or even your garage.

Unfinished tasks and unmet commitments are the source of most stress. The human mind doesn’t differentiate between a seemingly insignificant task of filing away a piece of mail and important unmet commitments when it comes to creating stress. They both weigh on our unconscious minds as burdens and drain us of valuable energy.

Closing Open Loops Releases Energy

As tasks are completed and commitments are met—even the most insignificant ones, previously inaccessible energy is released. You will gain more clarity to see what’s next, and more energy to tackle it with.
– The Startup Daily

Do You Do What It’s important to regularly ask yourself why you do what you do. When you don’t have a clear answer, your work is not at its best and your focus is easily diverted from what matters most.

Reflecting on Your Purpose Regularly Keeps You Motivated and Protects Against Distractions

A clearly written statement of purpose can act as your compass. It encourages and motivates you to push yourself, and gives you a reason to say no to distractions that threaten to steal your focus.

When the work you are doing is uncomfortable or unnatural, referring to your statement helps to remind you why you should push through the discomfort.

It’s important to regularly ask yourself why you do what you do. When you don’t have a clear answer, your work is not at its best and your focus is easily diverted from what matters most.

Reflecting on Your Purpose Regularly Keeps You Motivated and Protects Against Distractions

A clearly written statement of purpose can act as your compass. It encourages and motivates you to push yourself, and gives you a reason to say no to distractions that threaten to steal your focus.

When the work you are doing is uncomfortable or unnatural, referring to your statement helps to remind you why you should push through the discomfort.
– The Startup Daily

It’s human nature to want to fix your own flaws. But attempting to build on your weaknesses is not an efficient use of your time and energy.

Stay Motivated by Focusing on Doing More of What You Do Best

Delegate and manage around the tasks that you struggle with and the activities that drain you, and spend as much time as you can doing the work you excel at.

By focusing on your strengths, you create a feedback loop. Playing to your strengths gives you energy and confidence, which will motivate you to work even harder in the future.
– The Startup Daily

Entrepreneurs often engage with investors one after another until they find one who bites. But this leaves the alternative to accepting whatever terms the investor offers an unknown at best. The entrepreneur may be forced to give up too much control or too much equity too soon, accept a valuation they aren’t happy with, or agree to some other unfavorable conditions.

If you are not willing to walk away from the investor’s terms, you won’t get favorable terms.

Pitch and Negotiate with All Your Prospective Investors at Once

If you pitch to your potential investors in parallel, you will receive your terms at roughly the same time. Creating a market of buyers leverages scarcity and social proof to help you stay in control and close the deal faster. Nothing motivates an investor to become flexible like the threat of competition.

The best way to maintain control is to maintain good alternatives.
– The Startup Daily

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