Why a Great Product is the Ultimate Growth Hack — Adventures in Consumer Technology — Medium

There is a study on startup scaling by the Startup Genome Project that reports “74% of high growth internet startups fail due to premature scaling.” Attempting to grow before your product is ready can greatly impact your startup’s chances for success. Making the decision to scale is just as important as deciding the right time to do so.However, time and time again, too many startups focus too heavily on trying to develop a product that serves everyone — or building something for millions of “customers” before they even have their first one.Scaling too early, or spending your resources excessively before developing a product that will successfully satisfy a large market, can lead your startup to fall into the same trap as those mentioned above.

via Why a Great Product is the Ultimate Growth Hack — Adventures in Consumer Technology — Medium.

Advertisements