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May - 2016 - issue > CXO Insights

9 Tips to Grow Your Startup in a Competitive Space

Deepak Chauhan, Founder, Smartstay.in
Friday, June 3, 2016
Deepak Chauhan, Founder, Smartstay.in
With a vision to deliver offbeat and exciting holiday possibilities like wildlife tours, farm stays and royal heritage experience options for travel enthusiasts, Smartstay offers unique homestay options and holiday packages on the concept of Alternate Tourism

Hi there! If you're reading this, you are either an entrepreneur with your own startup, or simply keen to understand what the fuss is about! Either way, if you're looking for tips to grow your business aggressively in the face of entrenched competition, just read on...

1. Find an Unmet Need: Despite the massive explosion in online products and services, it is still a great idea to start off by simply 'building a better mousetrap'. That's right, the fundamental premise driving any venture should cater to a stated or unstated consumer need. If your business idea doesn't solve your user's problem, you should probably get back to the drawing board to find the one which does.

2. Build a Strong Product: Once you've got your head around the need gap you want to address, give a long hard thought about how your product should look, behave and (most importantly) interact with the consumer whose problem you're solving. Remember, if the user doesn't immediately see what you're selling, your solution, however brilliant, is doomed to fail.

3.Stay Different: Understand that you're entering an exploding ecosystem, with millions of businesses pitching themselves to increasingly-fragmented consumers strewn over the digital landscape. To make life tougher, users' attention spans aren't what they used to be, and it's getting worse every day. It is just not enough to be different and expect customers to 'get it', it is vital to look immediately attractive at the online equivalent of a passing glance. So understand what appeals to your audience, and keep working hard at staying relevant, engaging and being unique.


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