3 Key Pillars to Turn Your Startup Into a Sustainable Company12:38 AM
Achieve business success through continuous learning. Listening to the customer, providing added v...
Achieve business success through continuous learning. Listening to the customer, providing added value and forming a team are essential actions for a business to scale. The actual purpose of a business is to "create and keep a customer.
To pass from invoicing 2 million US dollar a year to 220 million is not achieved by doing the same thing as always. In the ten years of existence, the e-commerce Enviaflores.com has managed to grow its business through three keys:
- Listening to customer
- build a team and
- offer added value in the market.
"We want to be the Amazon Gifts in 2020 with one million operations a year, " said Jesus Martinez, director of Enviaflores.com in an interview with Entrepreneur. "To achieve this, a vital aspect has been to listen to the customer and understand what they need."
Martinez explained that apply in your business surveys to find out what they would like to clients who were sold in Enviaflores.com. "They have told us that they want us to sell tacos," joked the entrepreneur.
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One of the reasons why a failed startup is because it creates a product for which there is a large market. Ruling Elizabeth Becerril, director of Catapult, school entrepreneurs in the Banking and Commercial School (EBC) under Startup in America, an event that brings together 20 entrepreneurs, investors, and other stakeholders in the entrepreneurial ecosystem to convey that knowledge.
Becerril believes that one of the mistakes of startups is not to establish an early communication with the final consumer, because by not doing so "you build products that may not make much sense to the customer," he said.
It is a myth that entrepreneurs must first have the product ready and then show it to the public. Becerril is confident that "from the draft and the sketch on the napkin it is necessary to have that conversation with the customer."
Martinez has applied it in his business, now he is convinced that he should extend his offer of products and include more categories of gifts.
"We are expanding new lines, forming alliances with small entrepreneurs and supporting them to massify their products," he says.Today, in addition to flowers, this e-commerce, one of the most successful in Mexico, also sells balloons, perfumes, cookies, cakes, and shoes.
The second key for startups not to die in the market is to offer added value. "You can not put an e-commerce product that you can find at Walmart, you have to find something else for the customer. Ask yourself the question, would you buy this? ", Martínez recommended. Your acid test is to ask yourself: Do I really have the scale and am I offering added value?
The team, the primary keyThe Catapult director is convinced that an entrepreneur can not be alone. Investors do not invest in a single person but in a team. "A startup is built as a unit and to form it you must hire people who have different skills to you because they can face all the obstacles that occur in the process of growth. This is attractive for future investors, "he argued.
Attracting and retaining talent is an issue that should not be neglected by entrepreneurs, for it was one of the central themes of the talks Startup Grind Mexico and Latin America, which plans to be made annually bring more exhibitors.
Martinez knows how crucial a work team is for business growth.
" It 's like a soccer team, you have to grab the best, " he said.
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And in this, the emotional intelligence helps understand what moves people to retain talent team.