Growth. Rapid, big-time, and continuous growth. This is true in the early stages when a business is most fragile. It’s also true after a company finds its footing and brings in more customers and employees. Growth, the thinking here goes, is the answer. The golden ticket.
The reality, of course, is far more complicated. While growth can provide credibility, resources, and revenue, it must be managed well. If it isn’t, it can undermine and ultimately jeopardize everything. Fast Company’s The Small Business Guide to Growth Hacking, presented by OPEN Forum from American Express OPEN, explores what it takes to build a thriving business that manages to both expand and adapt to the myriad demands of a bigger company. More and more these days, the answers are rooted in what we call “growth hacking.”
That is, ultra-clever problem solving that short-circuits conventional sales, marketing, and product development approaches.The range of perspectives and lessons that fill this exclusive collection, drawn from successful entrepreneurs and thought leaders alike, are designed to inspire and educate, arming you with strategies and insightful questions for whichever stage your company is in.
We delve into growth fundamentals, such as generating new business. Part of what propelled Airbnb, Spotify, and Groupon onto the scene, writes best-selling author Ryan Holiday in the chapter “How Growth Hackers Redefine the Game,” was a savvy blend of marketing and technology that uncovered a wealth of initial customers and turned then-unknown services into viral sensations.
And as serial entrepreneur Faisal Hoque observes, in the early days of Whole Foods, founder John Mackey focused on fostering an emotional attachment to the brand to nurture loyal customers, who then acted as evangelists.
Read the full article @FastCompany.