3 factors of growth to look for
Why do so few companies succeed. ?This is a question that many startups grapple with and those new to the investment game struggle with. ?There are however, a few signs that you can look for in any business that help answer this difficult question.The list is not exhaustive, and definitely not a if you have you will succeed list. ?If your business has these traits, the changes that you will become a high growth business are increased. ?If you don't have them, take a look at where you want to be in the next 5-10 years, now could be the time to change things.
- A?radical new technology and/or business model. ?Think about what your business does to reduce costs, enhance an existing product or even address an unmet need. ?which serves to reduce cost. ?Does your product or planned product change the market dramatically or better yet have you found a new market.
- How good is your management team. ?Sure everyone can start a business, but how good is the team really. ?This is where incubators come into their own, taking raw potential and moulding it into a quality management team.
- Can you actually do what you say you can do. ?Anyone can develop a strategy, its how you execute that strategy that matters.
These 3 indicators, are just that, indicators. There are always exceptions to the rule, but in most cases, its the track record of the founding team that matters and then the potential of the product. ?Looking at the top businesses today, many began to grow and attract investor interest once the founding team proved they have what it takes.