Week 5 - MBA 6101 - Ascend Your Start-Up

 

To be successful in your business, it is important to step back after the company has grown to a certain level of success. Stepping back allows one to assess their current state and where they currently stand in their growth. Yu shares that it is important to acclimate to the customer’s voice and find methods to grow and distinguish oneself. (Yu, pg. 93, 2021) During the company’s growth, certain sets of customers will immediately align with the company and the products/services it offers. These customers are a strong foundation that the company can build on and invite prospective customers.

In today’s world, this key fact can be seen in social media exposure of companies. Many companies work social media influencers or individuals that truly follow the company’s overall motto and goals. These individuals, at times, can become ambassadors for the company and in return, receive discount codes or a certain percentage of the sales made using their links. This offers a much wider reach to an infinite number of individuals that will spark an interest in working with the company that their favorite influencer is sharing. Many companies now have social media roles in hopes of having a designated individual to create their campaign and increase their reach. Facebook Ads was a primary tool that most companies, both small and large, used to develop new customers.

Reference:

Yu, H. (2021). Ascend your start-up: Conquer the 5 disconnects to accelerate growth. Made For Success Publishing.