Prev- Founder & CEO ... • 1y
There's a huge difference between building a mediocre business, sizable business and a great business Here's how you can know if your idea will turn into a mediocre business, sizable business and a great business There are 3 important components of building a business: Monetization, retention and acquisition Monetization is if consumers will really pay for what you're solving, how many consumers can pay for it and how many times will they be happy to pay for it Retention is how frequent the problem is for the consumer, how frequent will the consumer use the solution and is there really a friction to reactivate the usecase Acquisition: How're you going to be bringing users? What's the ideal cost to bring users? How're the conversion numbers going to look like? Medicore Businesses: A mediocre business doesn't have high Monietisation or high retention or low acquisition - fundamentally these businesses are not stable, ex: cheap course businesses, Ho Sizable businesses: Even if your business has either one of these, high Monietisation ( where many people are paying or high cheque sizes of payment) , high retention or low acquisition cost - you can build a sizable business in India. Ex: Unacademy, Spinny, creator led products Great business: Great businesses are built on top of great retention, even if it is a micro pricing, it'll turn out really well just because it has amazing retention, or huge opportunity to make money via cross sell, upsell becomes easy because of the retention ex: Payment gateway businesses, credit card business, marketplace businesses, quick commerce If you're ideating, create an MVP and see which category your idea fits, honestly it doesn't make sense to build a mediocre or a sizable business - If you do it, it's jus suffering all the way
Prev- Founder & CEO ... • 7m
If you're building a consumer app, there are 2 levers that'll make your app successful 1. > 2.5% + Install to paid user ratio 2. Solid retention, most apps are trading apps- user performs an activity and never comes back but great businesses are a
See MorePrev- Founder & CEO ... • 1y
Last year when I was in Bangalore, I met pretty famous, well-accomplished, and highly insightful founders, one of the questions that I kept asking everyone is How do you validate an idea or how do you know if something will work or not? The reason
See MoreI'm just a normal gu... • 1m
After raising $2.3 Mn since its inception in 2020, women-only community startup leap.club is halting its operations due to high customer acquisition costs and retention challenges. The startup announced the decision operations on Instagram and Link
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The Clueless Company • 1y
"Customer Retention" isn't just a strategy. It's an attitude. If you don't value your customers because they matter... If you don't respond to their queries because you care... If you don't genuinely want to see them satisfied... Your business mode
See MoreCHAIRMAN - BITEX IND... • 1y
Some Important Full Forms For Startups 1 =} B2C ( Business to customer ) ★ All products that you buy from an online / offline marketplace as a consumer is known as B2C. Ex- Flipkart , amzony 2=} B2B ( Business to business ) ★ B2B business mode
See MoreEntrepreneur | Build... • 5m
Bit of Comeback Post 🔥 Ist time founders focus on Product. 2nd time founders focus on Distribution. 3rd time founders should focus on Retention. This is a learning from my last startup. If your business by nature can not have repeat users, it wil
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