Your Startup Got Funded, Now What?
4 Step Guide for Defining Where to Invest Your $$$
First off— CONGRATULATIONS!
Getting investment or funding is no small feat so you should be celebrating that well-deserved money!
Now what to do with it is a whole other question.
If you’ve been pitching for funding for a while now- you’ve probably spent a lot of your focus on raising money, so much so that you might have veered off course and forgotten your action plan
We know this happens and that’s why we wanted to get you back on track with an action plan that will guarantee you growth and scale and put that money to its ultimate use.
Perform a SWOT Analysis of your business
This step usually gets performed at the beginning of a startup when you first have an idea and are researching and trying to validate your project. However, we think it’s so important to complete this exercise again once you begin to grow and scale.
By asking yourself “What are my (Strengths, Weaknesses, Opportunities and Threats) ? You examine your company and its market from all angles so you have a thorough understanding of where you stand.
From this fresh perspective and understanding you’ll be able to make informed decisions that aren’t hypothetical. Read more about How to do a SWOT Analysis
Run Usability Tests to track performance
Usability tests are one of the most important processes not only for testing, challenging or verifying your product but also for making sure there’s a smooth, intuitive process for users to interact with your business and ultimately make that purchase.
How to do this ?
It’s important to come up with focused goal that you will be able to test, measure and analyze. These are some examples:
- collect qualitative and quantitative data
- determine the participant’s satisfaction with the product
- generally Identify Usability Problems
Learn how to build a Usability Test and analyze your results.
Develop Your Content Marketing
Back in 2014, Gary Vaynerchuck proclaimed that “Every Company is a Media Company”
Now in 2018, we still believe this to be true.
Why?
Media is a way for people to see your knowledge and expertise in your industry, the culture of your brand and the relatability. Every company had a story, and usually those stories are raw and powerful enough to make a lasting impressions with an audience. Don’t miss that chance!
There’s many different content strategies you can invest in;
- From Traditional Blogging
- Podcasts and video
- Newsletter and insider “community”
The opportunities here are endless. If you’re struggling coming up with a Content Strategy that produces results— send us a message hello@bravuz.com
Invest in a Growth-Hacker/Agency
This person is at the intersection of being a marketeer and product manager with a creative, design background.
That’s right — they’re a magical unicorn that doesn’t fit into one specific role, but who’s sole focus is growth.
Growth-Hackers work with founders on establishing growth-goals then come up with out-of-the-box strategies that are tested and analyzed for their maximum performance.
They work quick on testing different strategies that work and don’t waste any time on ones that don’t show potential. Their true north is growth and having one of these guys on your team will be essential for reaching your KPI’s and really growing your user base.
Okay, as a Growth-Hacking agency we’re a bit biased on this last part, but it’s because we truly believe that sometimes it takes a little something extra to make a startup succeed. Over 90% of startups fail and that’s a hard fact that crushes dreams. We want to be working along with the 10% that we know will succeed.
Send us a message to hello@bravuz.com and tell us about your startup. Have you received funding, are you thinking of growth and scale? We’d love to chat and together we’ll see if we’d be the right growth-partner fit.
Want to find out more about Bravuz?
💻 Check out our website and learn more about us
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📝 Read about Startup Growth on our blog
📃 Email us at hello@bravuz.com
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