4 Sources of Sustainable Growth and 3 Engines of Growth for Startups

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Hong Sun
Management Consultant, Canada
In the illuminating book of "The Lean Startup," the author Eric Ries put forth four sources of sustainable growth and three engines of growth for startups. Four Sources of Sustainable Growth First of all, sustainable growth needs to be differentiated from sales surges generated by one-time activities, such as a single advertisement or a publicity stunt that could jump-start growth but without long-term effect. Sustainable growth is distinguished by one simple rule: The actions of past customers create new customers. This can be achieved in four ways: Word of mouth: Satisfied customers talk with family and friends about their enthusiasm for the product and naturally give rise to a level of growth. As a side effect of product usage: Certain products such as luxury ones drive awareness of fashion or status in people who see the product being used; or viral products like Paypal automatically influence non-users—those who receive funds from Paypal users. Through funded advertis (...) Read more? Sign up for free

 

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