Most startup technology companies invest and focus on continuous product development and may sometimes move away from a focused cash flow strategy. Instead in the first few months following start-up, your company must have a goal to capture as much revenue as possible and be “Cash-Rich”. To do this, you need to focus on critical marketing foundations, including:
Once your company reaches a break-even point and is visible enough and becomes known within its industry, it must capture market share and build for future investments and growth. During this growth phase, progressive companies must focus on customer satisfaction and retention while continuing to acquire new customers. You can achieve this by empowering your users, educating them. Some key tactics include:
Sustaining growth, building new products or pursuing acquisition by a larger company become primary goals when you have achieved the first 2 goals. To do this, you need to follow a plan that scales revenue growth with performance and brand reputation. Successful software and technology companies develop:
