Look, it’s no secret that scaling up a business is often a messy, exhilarating, and chaotic journey, one that feels like a race where speed sometimes overshadows direction. But, as we know, embracing this chaos is a necessary part of our growth journey.
Today, I wanna talk about a process that could transform your business by bringing more order to the chaos – repositioning. So, if you’re struggling with growth, if you are not attracting enough leads, if your conversion rates suck, this video could be the solution you’ve been searching for.
We are all in the same boat
First, let’s acknowledge that startups often face similar challenges. We all go through the same story. You get early traction, then you struggle as that traction stops, fades. And then startups who make it, scale. But most of them fail. Here is why and how to be on the winning side.
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In the early stages, it’s a mess – finding your target persona, refining your product, defining your messaging … You don’t know who you are selling to, you welcome just about everybody who is willing to put money into your product, as this is proof that you have a market and are creating something meaningful.
You don’t know how to market your product, how to sell it, what the messaging should be, open fronts on at all ends. It’s chaos. But, this chaos is an essential part of the journey. It helps you get early traction and confirm you actually have a market.
However, as you grow, you also run into troubles: You get feedback from non-ideal clients, steers the development down the wrong path- You lose sight of who your best-fit clients truly are. Your messaging, in an attempt to please all, pleases none, resulting in low conversions and retention.
When the growth stalls
Over time, the initial rush of customers to your product slows down, causing your growth to stall. Attracting the right clients becomes a struggle. Conversion rates fall flat. Engagement levels take a nosedive.
So, what’s the solution?
Repositioning + Focus, focus, focus
The secret to sustainable, targeted growth is a relentless focus on your best-fit customer and repositioning your product to cater specifically to them.
I’ve done it with clients time and time again. The first burst of growth, the initial chaos gives you data. But at a certain point, usually when the startup is between half a million and a million annual recurring revenue, you need to make sense of that data and focus all your efforts onto one customer, offering one solution.
That’s where repositioning comes in. Repositioning is about adjusting the perception of your product or service to better appeal to your ideal customers. It involves changes to your messaging, strategy, and sometimes even changes to your product. It’s taking all that data that early traction got you. Making sense of it. And positioning as a specific product for a specific user segment.
Remember, it’s not about being everything to everyone – it’s about being something great for someone.
If you’re hitting a ceiling, it might be time to examine your positioning. You don’t need to work harder; you just need to position smarter. Understanding your fundamentals, and refining your positioning can drive you to break those ceilings and rise to new heights.
So, if you’re feeling overwhelmed, remember that the solution might not lie in more hustle but in revisiting your startup basics – your ICP, your offer, your positioning.
If you’re currently feeling stuck and need help repositioning your business for exponential growth, I’m here to help. Click on the button below to get access to my 7-day positioning email sequence.
You’ll receive 7 emails in 7 days, guiding you through all the steps to position your product as the go-to solution for your best-fit customer and help you gain more customers, improve your conversion rates, and give you a sense of direction. It’ll give you a roadmap on how to do things moving forward.
Don’t forget to share your experiences in the comments and share this with fellow startup founders who might need this advice.
In the next newsletter, I am going to share a few concrete approaches on how I do repositioning strategies with my clients, so stay tuned and as always, may your customers love you and understand your product.