Winning Go-to-Market Strategy for Startups

Launching a startup can be challenging during the first few years. According to US SBA data, about two-thirds of newly established businesses survive through the two-year mark, and almost a half strive for longer than five years. The<a href="https://www.cbinsights.com/research/startup-failure-reasons-top/" rel="noopener ugc nofollow" target="_blank"> </a>factors that contribute to the startup failure are the absence of market need, shortage of funds, inappropriate team, and cost issues. Due to these reasons, a business plan is the number one step in creating a successful startup. Proper planning helps define your products and services, clarify your business objectives and analyze the competitors. Your business plan should include a marketing approach to make people aware of your products and let them find you. This document serves as a roadmap to structure your business and the tool to convince investors that your company will bring them many happy returns. I had a conversation with one of the leading company’s Marketing head and I realize many people are confused and think that Go-to-Market (GTM) strategy is only for taking new products or services to the market. In reality what I assume, successful businesses constantly adapt their GTM strategy as new information from the market becomes available , like Customer needs, competitors activity, technology innovation and many other factors can require changes to react on those factors, which plays a vital role to keep growing. A go-to-market strategy (GTM strategy) is an action plan that specifies how a company will reach target customers and achieve competitive advantage. <a href="https://medium.com/@somalika/winning-go-to-market-strategy-for-startups-7f9671f09cb3">Website</a>