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Asked a question 2 years ago

What are the main factors affecting startup growth?

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There are many factors that affect the business world directly or indirectly, and while some are uncontrollable , most can be used to your advantage so that your business has the greatest chance of succeeding. Some of the are discussed below -

1. Competition.

Competition is one of the main concerns/challenges you have to face in business you are going into. There might be other businesses offering same products/services as yours. Hence, opening a business selling certain products can be highly competitive if there are other businesses selling similar products or services.

While it might be a great thing for customers who will now have more options. So specific plans & strategies must be executed in order to compete with others in the market.

2. Traffic

To sell your products, it is important that people see your advertisements and promotional content. The more people you introduce your products and services to, the more customers you’ll have. If a startup fails to reach consumers, then the sale is hampered marginally. That's why, certain steps must be taken to increase your exposure – both online and offline–and watch your sales revenue grow.

3. Employees

Employees working in the company are responsible for the growth. If specific employee or a team fails to fulfill their responsibility, it may affect the whole organization. Therefore, people working for the company must be attentive, passionate, dedicated and interested in their duties. So it is important to hire good employees.