We couldn’t resist ourselves wondering how startups like Apple, Amazon, Google, and Facebook turned out as business juggernauts in our generation. It seems that these empires have created their own path of success, making them as champions in the industry, and providing them the endless access to constantly acquire greater achievements. Clearly these startups didn't face any failure, but let’s explore some of the reasons why some startups do fail.
Just because your business is still on its startup phase doesn’t mean your audience should treat you as one. There is a way for you to create the illusion of making your business seem like an established brand even if your business is still new in the industry. How exactly do you do that, you might ask? Check out these killer marketing tips.
If you're interested in startups or an entrepreneur yourself, you've probably heard of Eric Ries. After founding his company IMVU, a 3D virtual avatar community which is now doing over $55M per year, Eric noticed there's a huge amount of inefficiency in how founder were building their businesses. This lead to Eric writing The Lean Startup . The Lean Startup is now an international movement, which includes conferences, workshops, and a community, with a mission to help thousands of entrepreneurs around the world build successful companies faster.
We have all seen statements such as "Uber is worth four times more than Hertz, and it doesn't own a single car." While there is a kernel of truth to this statement -- Uber's latest round valued the company at $40B while Hertz's current market capitalization is $10B -- the difference between startup valuations (so-called "unicorns" with valuations of $1 billion or more) and publicly held companies' market capitalization is so profound that the two are hardly comparable. Understanding the distinction is vital if we want to cut through hype, understand risk and assess the market changes underway.
I’ve seen many successful startups emerge and flourish outside of Silicon Valley, like Hootsuite, Jive, Bazaarvoice, Omniture, Spredfast, Sprinklr, BuddyMedia, BlaBlaCar, Freelancer, and a plethora of Chinese tech companies that are worth billions and billions, so I guess that rules out any suggestion that all startups must be in Silicon Valley.
When Airbnb launched in Europe in 2011, their first move was to acquire German competitor Accoleo, establishing their first European office in Hamburg, Germany. This acquisition came after a mega funding round of $112 million at a $1 billion-plus valuation. Startups like Airbnb and Uber were founded on disruptive ideas that provided unique, alternative solutions to existing needs in the market.
Is it possible for startup companies to have Wikipedia pages? Using the company Instacart as an example, you will see that startup companies can qualify for Wikipedia pages. Wikipedia pages can be difficult to create. In addition to understanding the guidelines for formatting, referencing, and style of writing, you must also understanding what qualifies a topic for inclusion on Wikipedia.
With any kind of business in the start-up process, there are three phases it will go through in order to grow: Traction, Transition, Growth. During each individual phase, the goals, metrics, volume, channels, optimization and team differ. In order to efficiently work through these phases towards success, you have to pay close attention to these differences and plan your actions for your product accordingly.