It wasn’t that too long ago that startups were viewed as the new kids on the block in the business and tech communities. Most startups wouldn’t even come close to breaking even — never mind breaking into the market.
Today, startups are often feared in the business world. Not only do they have advantages over many of their larger competitors, but consumers will now often choose a startup over an established company because these new companies have an allure that is hard for larger companies to compete with.
They Think Exponential
Many larger companies tend to hold themselves back because they don’t think big enough. They decide that 10 percent growth each quarter or each fiscal year is “ambitious enough” because that’s what their competitors have always done.
Yet startups don’t think in these terms. They aim to create products that deliver 10x impact for their customers and plan their businesses to grow at the rapid rate of 10 times their current rate — not 10 percent of their current rate. Many startups have the agility to pivot faster and easier than larger companies. When a larger company wants to change tracks, it takes longer to rebrand and strategize. Startups can often pivot at a moment’s notice.
They Make Technology Invisible
Startups understand what customers want: invisible technology. The mistake many software companies have made in the past (and still make today) is to create solutions that turn traditionally manual processes into digital ones, thereby focusing on creating flashy user interfaces.
Fact is, most customers don’t even want to deal with technology. They want seamless tech that works so hard for them that th
ey don’t notice its presence. Instead of downloading a handful of apps to get the job done, they want technology that’s their peer, taking care of things and enabling them to always be one step ahead. Or put differently – the best UI is NO UI.
They Think in Win-Win-Win Situations
Startups often don’t just think about what is good for them or for their customers; they think about what is good for everyone — including their customers’ customers.
Think about it: The reason for the existence of every organization is the unique value they deliver to their customers. Startups seem to understand this extremely well. They architect solutions that deliver exponential value by taking away the pains their customers face in delivering exponential value to their customers.
They Support Moments of Truth
The Moment of Truth are defining moments that influence how a customer perceives your business and your product. So, the question is ‘How do you support these moments?’ Simply reflect on your current solution: What’s the experience your customers face when the heat is really on? Does it stand the test? Have you ever received a ‘big thank you’ call or mail from your customer because your solution made the difference in such situation?
Startups think different. They don’t see Moments of Truth as an exception but as the rule. They see these moments as opportunities for their product and brand to shine, and as such as a way to differentiate and grow in new and unique ways.
They Focus on Solving the Hard Things
When Uber was founded in 2009, the startup had one problem to solve: creating a user-driven platform that would transform the world of taxi transportation.
Since its conception, Uber’s ride has been a little bumpy. The startup has dealt with discrimination, sexual harassment, rider and driver safety issues, a multitude of public relations issues and safety issues regarding its self-driving vehicle.
Some of these problems have been so massive that they could have put Uber out of business. Yet the startup prevails. The reason that Uber is still a household name is that it’s willing to solve the hard things. Instead of making excuses, Uber has turned to creating solutions for its issues and its riders’ and drivers’ problems.
If you need help tackling challenges like a startup, it’s time to start thinking like a startup. I have developed an approach whereby in In just a single day you’ll get a totally different perspective of the priorities to follow to become remarkable again.
Let’s get on a call to explore how this can work for you: Schedule Appo