Growth is never by mere chance; it is the result of forces working together.”
Business growth is never attained just by improving one aspect of your business. So, what does it depends on? Think about it.
Your answer can be ‘proper funding’ or maybe a ‘good team’. Or some might say nothing is important for growth more than a good product. But in reality, all these factors combined, result in growth. It is actually ironic that most Indian startups fail not because of a bad product but because of bad business development strategies. Statistics show this harsh reality of the startup movement in India.
90% of Indian startups fail within the first 5 years (suggests a study done by IBM Institute for Value (IBV) along with Oxford Economics).
So, how to develop a business so that it is loved by customers 10 years down the road? To achieve this, the role of business developer comes into play. Business Developer is someone who aims to expand strategical partnerships, acquisitions, licensing, product distributions, monetization, etc for his business.
This role is subjective to the size of the startup. But employing a full-time experienced sales/business development team can be a costly endeavour. Apart from it, remuneration, on-boarding, training and retention costs can be massive. Furthermore, the consequences of a bad employee can even incapacitate a business.
So what’s the solution?The Answer is The Startup Lab.
We will provide your company with strategic opportunities. Opportunities like nurturing associations or other marketable relationships with relatable businesses. We will help you in identifying new markets for your products or services.
We use two strategies for Business Development
Online Development- First rule of business is to be where, where the customer is.
So, in online development, we target your potential customers using online media.
Online Development majorly focuses on
- Online Branding
- Search Engine Optimization (SEO)
- Content Creation
- Social Media
Offline Development- The best way of survival is expansion. In offline development, we focus on expanding your business through meetings done personally.
Offline Development majorly focuses on
- Strategic Partnerships
- Corporate Connections
- B2B relations