One size does not fit all:
If you are pre-product-market fit, niche down to manage your runway and shorten time to your first monetizable segment. That is the ideal Growth Principle for you at this stage.
The key to reliable and rapid growth:
It's a common misconception that focusing on large, multi-segment persona's helps you build more revenue.
Focus on a niche so you can actually (reliably, more quickly) achieve pre-product-market fit.
Top tips to find Traction in 2023:
1. Develop strategy with product, marketing & the CFO in the same room.
Execution teams can then prioritize the most efficient roadmaps to traction and revenue. This is great for stopping busywork. That's a key secret of fast growing startups to manage runway and shorten your time to first monetizable segment.
2. Understand where in your funnel the biggest churn is.
Benefit from tip 1 and be able to meaningfully improve retention with focused resources.
3. Get to actionable positioning
With this niche in mind, ensure leadership and execution teams align on a more detailed positioning for the business. This improves how rapidly your go-to-market teams can get to success. No more back and forth, disconnected tactics, changing plans and KPIs.
Investors will love the focus on earliest, most reliable revenue.