It can feel like a David and Goliath scenario.
As a startup, you may be tempted to look at the established giants in your niche and believe you have no chance of beating them. They have the reputation, reach, and budget to acquire and retain customers.
But if the biblical allegory teaches us nothing else, it does demonstrate that an informed and savvy underdog can defeat a perceived champion.
Easy? No. Quick? Nope. But 100% doable.
How? By achieving organic growth.
No matter who or where you are, or how much money you have to work with, a sustained and focused plan to organically grow your audience, reputation, and customer base can deliver big, big results.
What is organic growth?
Organic growth refers to growth as a result of efforts achieved through internal efforts within a company, such as by means of creating higher-converting marketing content, increasing sales, and retaining more customers. Essentially, organic growth is growth that’s achieved by the company, versus growth that’s achieved through mergers and acquisitions or rounds of funding.
Organic growth generally achieves a higher rate of return for companies, but takes longer to achieve because it involves upfront marketing, sales, and customer service investments.
The black and white statistics for startups and new businesses can be a bit frightening at first glance:
You need to change the narrative. Put another way, one-third of new businesses make it to ten years, 20% of startups survive past 12 months, and 25% of venture-backed startups flourish and see a return-on-investment.
Doesn’t that sound better?
Failure is a part of doing business, and the reasons for it vary: insufficient or lack of market research, poor planning, not enough capital, bad or misguided marketing, outcompeted, no demand, expanding too fast, and on and on.
You’ve got to plan and work for success. You’ve got to hustle.
In the business world of the 21st century, the tactic that levels the playing field is online organic growth. Generate leads, spread awareness, grow your reputation, acquire and retain customers, and produce advocates.
Ready? Let’s do this.
There are no shortcuts, and you need to remember that going in. Successful businesses of any size play the long game, understanding that growth and profit may take some time.