Monitoring both well-known and less-known case studies (including of course Innovation Sprint) and wanting to summarize his findings on the growth mechanics, as well as the cost of doing business. Sofoklis highlights in this article the ten golden rules as common denominators for all startup trajectories that differentiate them in their growth phase versus the ones that enter the valley of death.
TOP 10 Growth Requirements
1. Target users with a B2C or B2B2C model, offering a digital service or good
2. Eliminate human-in-the-loop
3. Not being afraid of competition
4. Quickly surpass the Chasm and offer the ‘whole product’
5. Be visionary, but leave the egos aside
6. Follow a lean startup methodology
7. Do business development (and not just sales)
8. Raise (more) money that is needed
9. Work hard with a clear roadmap
10. A team of smart members
Read more about the ten golden requirements and the cost of doing business here
