3 things you must have in your go-to-market plan
How will you raise funds for your start-up? Do you have the right resources and partners?
You have validated your target market, developed and tested your solution. Your product is now ready to launch. How do you then introduce it to the market effectively and scale your business?
Aaron Koh, Founder of Consult U networking at the CIRCLE Demo Day in April 2018
Understanding your constraints will help you prioritise and focus as you grow your business.
Here are 3 ways to identify, understand, and address your growing issues:
- Optimising your team
Start-ups require strong teams where team members’ knowledge, skills and attitudes can complement each other to navigate through ambiguous environments. Developing strong foundations and a positive company culture will attribute greatly to a winning team.
- Build strong relationships with your investors
Investors – be it Angels, VCs, or even family and friends, have different motivations. While investors will expect to see growth plans, they can also help elevate and boost your chances of overcoming obstacles. Understanding their motivations, leveraging on their expertise and network can speed your scale-up process.
- A well-defined strategy
Outlining a clear, coherent and concise strategy will guide your team in executing your business plans effectively and help you decide which project takes priority. The strategy will also give your investors a clear direction to identify what kind of help your start-up may require.
Case Study: Poon Da Qian, Founder, ButlerInSuits
Middle: Poon Da Qian won 2nd place at CIRCLE, Platform E's demo day in April 2018.
“One thing that was validated during Cycle 3 was the importance of a strong and positive company culture,” says Poon Da Qian, founder of ButlerInSuits (BIS), and a cohort 1 participant. BIS's vision statement is to create happiness for people, community and country – and this movement begins from within. Poon shares how he built a strong innovative and creative culture with his team: “We take a service-oriented approach to dealing with challenges, where anything can be fixed with the right resources and we approach problems positively.”
Poon also implemented company policies such as paying salaries above the market rate for housekeepers and keeping management and administrative teams’ working hours (many of whom originated from the hotel and service industries) strictly to weekdays from 9am - 6pm. Poon emphasised on work-life balance and a happy culture has helped BIS attract and maintain a strong and motivated workforce, who have in-turn grown BIS’s customer base strongly.
The ButlerInSuits team in their office
Build your business plan with the IntegratE Entrepreneurship programme
In Emerge (Cycle 3), participants will be tasked to develop and refine their business pitch deck as part of their field work. The learning process will be concluded with an opportunity to pitch to a panel of angel investors and venture capitalists at a demo day.
Platform E takes a sustained approach to building success.
Here at Platform E, your journey as en entrepreneur will be aided with a host of relevant on-site support. All participants of the IntensE and IntegratE programmes are entitled to a hot-desk at The Space, and enjoy membership benefits.
Be armed with the essential business and venture-building skills to bring your final product/service to market and scale your business. Apply for IntegratE Cycle 3: Emerge by 10 September 2018
The programme starts on 26 September 2018.
- Early bird rates: Enjoy a 10% early bird discount off the programme fee if you apply by 31 August 2018.
- All Singaporeans and Singapore PRs are eligible to receive an E2i grant of $750 upon completion of the programme. Terms and conditions apply.
- *6- and 12-month interest free instalment plans are available for OCBC and Citibank Cardholders. Terms and conditions apply.
Have any further queries? Email us at connect@platformE.asia