Imagine your company getting at a valuation of $7.78M because of your hair.
After personally overcoming a chronic hair issue, this couple founded a startup to help other people do the same.
Here are 9 business lessons they learned from scaling their company.
A thread 🧵
After personally overcoming a chronic hair issue, this couple founded a startup to help other people do the same.
Here are 9 business lessons they learned from scaling their company.
A thread 🧵
1. Businesses don’t run on similar principles
A principle that works for a successful company might not work for another.
Businesses must try out different growth strategies to understand what works for them.
A principle that works for a successful company might not work for another.
Businesses must try out different growth strategies to understand what works for them.
2. A business’s true mission is to solve a particular problem.
Sometimes, they might need to take some tough business decisions or incur losses due to this.
But it is important to do so if they want to position themselves as an industry leader in their niche.
Sometimes, they might need to take some tough business decisions or incur losses due to this.
But it is important to do so if they want to position themselves as an industry leader in their niche.
3. Take customer insight seriously
Brands operating in India will need to bring some sort of ‘Indian-ness’ in them.
And they must use customer insight to understand what their target audience really wants.
Brands operating in India will need to bring some sort of ‘Indian-ness’ in them.
And they must use customer insight to understand what their target audience really wants.
4. 1000s of brands are trying to sell the same thing
To stand out from the crowd and win its customer’s trust, a brand needs to be brutally honest about its purpose and efficacy.
To stand out from the crowd and win its customer’s trust, a brand needs to be brutally honest about its purpose and efficacy.
5. Brands must focus on customer retention.
With the D2C space crowding up, retaining customers has become very expensive.
Hence, brands must focus on improving their USP to make their customers come back to them.
With the D2C space crowding up, retaining customers has become very expensive.
Hence, brands must focus on improving their USP to make their customers come back to them.
6. Beta test your product early on in your journey
If you’re a product-based business, gather an early set of customers and test out your products on them for the first few months.
If you’re a product-based business, gather an early set of customers and test out your products on them for the first few months.
7. During that period, just note down your learnings and refine your product. That improvement journey is what will get you your first funding.
8. Your customer never looks ONLY at the price
Brands must create a well-rounded product that checks all the boxes of efficacy, looks, and quality.
This is what will establish their authority in their field of operation.
Brands must create a well-rounded product that checks all the boxes of efficacy, looks, and quality.
This is what will establish their authority in their field of operation.
9. Apply Psychological tricks to increase your sales
Super successful brands like Apple and Boat use psychological tricks in marketing to make their customers switch to them from their competitors.
Super successful brands like Apple and Boat use psychological tricks in marketing to make their customers switch to them from their competitors.
Applying psychological triggers in your marketing strategies, website, and emails can help you convert a cold lead into a warm one.
This week I invited @saloni_anand and Altaf Saiyed, the founders of @TrayaHealth
We talked about business, hair care, holistic health, marketing, funding, and much more.
Link: rajshamani.openinapp.co
We talked about business, hair care, holistic health, marketing, funding, and much more.
Link: rajshamani.openinapp.co
That’s it for today.
If you liked this thread, RT the first thread and share it with your folks on Twitter.
If you liked this thread, RT the first thread and share it with your folks on Twitter.
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