Top 4 Unique Lessons Every CEO Should Learn from Silicon Valley TV Series
Done With the Setup of Your New Business? No Idea on How to Direct Your Business as a CEO? You Have A Few Lessons to Learn From Silicon Valley TV Series Here.
Silicon Valley TV Series made a huge impact on the newly emerging entrepreneurs within a short time. I also used to watch this series, with Game of Thrones running up front. Anyway, today I am sharing my views on this SV series by connecting the ongoing entrepreneurial trends. Hope it would make sense to you as well.
Starting a new business or organization requires a wider understanding and strategic approach. It may sound easy to many, but believe that it’s pretty to establish and monitor the growth of a new startup.
The person, you call it as CEO or Founder behind the startup, have to take care of the complete responsibility to make positive things happen sooner. Growth occurs only when one is highly selective in the areas of spending energy and finances and makes smarter choices regarding partnerships and companies.
Silicon TV Series Special: Apply These Lessons As The Major Pillar of Your Startup and See the Difference
Recognise the channels that help you to grow the most and make the best of those connections. Everything will start to fall into place once you start growing your business and take necessary actions on time.
Here I’m sharing some views I gathered after watching the Silicon Valley series on the whole new levels of entrepreneurship.
#1. Customers Count and Growth Are Different
Initially, in a startup, the new product or service is adopted and the number of customers gets attracted to the product is termed as traction.
Traction and growth are different; one should never get confused with each other.
There are several stages in the life cycle of entrepreneurship, and every stage has its own importance.
Users’ pull towards the product or service happening in the traction phase. If users are not interested in what you offer them, there is no point is continuing as there will not be any further growth. As users approach and your revenue and facility are enhanced, growth occurs and your connections diversify eventually.
#2. Smart and Healthy Partnerships
One must not hesitate in going for a partnership. Partnerships turn out to be high yielding and profitable, if healthy.
Combining products and services as you establish connections can help a lot in growing at a larger scale. Even advertising these goods and services together can yield better results.
There occurs a vast scope of experimentation and improvements regarding the finances once you indulge in partnerships. More people will get charmed by your services, and you can achieve the right growth and efficiency.
A partnership is a very smart and collaborative method of enhancing productivity and revenues.
#3. Recognise the Areas That Weaken You
Find out that unique factor helps in the growth of your startup and get rid of the other factors that can decrease the growth rates. You need a detailed understanding of your service and factors associated with it.
If you think you don’t require a huge number of team members initially, get rid of those who’re not directly indulged in boosting your growth charts. You ought to focus on just one thing and that is productivity. Growth charts will always be in your favor if you know precisely about all the areas regarding your service.
Know what speeds up your growth and make the best of that connection till the level of saturation is achieved. The next step is to make newer connections and grow like never before.
#4. Be User Oriented
Understanding what your customers need and focussing on it will help you in drawing more customers, as you keep them satisfied.
Also, initially in an industry, you should go deeper, as to understand it more, know the common areas and interests, and then go wider. One connection, when well established can provide better results than two superficial connections. Good entrepreneurs have deeper connections and thus, have good growth rates.
Startup growth is a strategic task and one can achieve impressive growth charts if one smartly goes and execute the plans step by step.
We wish you all the best for your startup growth.
If you start a new business, which is the most crucial factor for which you give importance? Feel free to share your views in the comments section below.