In the midst of the recent crisis that affects startups, the inability of many of them to successfully overcome their growth stages is evident. They have lost the essential focus: bringing benefits to their customers. This is where executive coaching can play a key role in helping to redirect your goals and strategies.
Startups are characterized by their innovation, which often results in revolutionary ideas and creative solutions. However, in their eagerness to capture the attention of investors, secure financing and raise their capitalization perceptual value, Some have fallen into the trap of promising illusions instead of building a solid business. They were more concerned with selling their shareholding position in the medium term than with developing a product or service that offers a real advantage in the market.
The idea behind these companies moved away from the generation of profits and the purpose became only expansion; however, this perspective significantly raises costs and instead of consolidating their presence they end up making pronounced adjustments, laying off staff and reducing their size.
The distorted vision of growth plays a crucial role in the crisis. By starting your journey with the idea of selling the company at the first opportunity, you divert them from maintaining an attractive product or service.
It is essential for startups to review their approach and this means setting clear and realistic goals and developing a detailed plan to achieve them.
It is urgent that they analyze their profitability before expanding, taking care of their economic viability. Consolidation in the market and good administration must be a priority, as well as investment in infrastructure and processes that allow the company to grow sustainably.
It is important that they redefine their vision and focus on offering a quality product or service that meets the needs of their audience. Build strong relationships with customers and understand their requirements.
Executive coaching can be the key to addressing challenges and supporting change. It helps to identify the problems that impede your success, providing guidance and tools to overcome the challenges. Through this methodology it is possible to learn to focus on the market, reconfigure your goals and design solid action plans.
What is your vision of startups right now? Comment me on social networks, such as LinkedIn, Instagram or Twitter.
