Common Growth Challenges Faced During a Firm’s Introductory Phase
- Focused Marketing & Product Strategy to stress the uniqueness of a new product or service to a small group of customers. These customers are typically referred to as innovators or early adopters.
- Attracting and Retaining Top Talent will be required to lead your business forward, drive innovation, and maintain customer experience.
- Profits are typically negative to breakeven at this stage, and any profits generated are typically reinvested back into the company to solidify its market position, while funding continued growth.
- Creating a best in class sales process is necessary to acquire new clients and is key to creating a revenue generating culture.
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