How can young Internet companies grow optimally?
There are a number of mistakes we see young companies make time and time again:
- There is a lack of clear strategy and vision: the “big picture” is often lost in all the operational hustle and bustle.
- There is too little transparency in the company: important key figures are not systematically determined and analyzed, which often leads to wrong decisions
- The team does not work focused enough towards relevant and measurable results: usually the goals and milestones are not concrete enough, often there is also insufficient prioritization, so that it is easy to get bogged down
We have analyzed these sources of error and directed the focus of our management consulting: On digital growth. Our team consists of 25 experienced consultants, many of whom were with top strategy consultancies (McKinsey, BCG) and have worked operationally in digital business or have founded companies themselves. So we know the challenges of young entrepreneurs in this dynamic environment from our own experience and can support them with our expertise and excellent network. It is important to always keep the strategy in mind and use it as the basis for all decisions. In addition, that the decisions made are also implemented quickly and efficiently, so that you get measurable results that you can always optimize further.
Typically, after the first round of financing, it makes sense to bring consultants on board to address specific issues in a focused way. Here, it is primarily the “peripheral processes” such as human resources/talent acquisition, selection of tools, brand development, sales and online marketing where we can provide targeted support for each area with our specialists. This allows the team to focus more strongly on core processes (product management, technology, BizDev) and use its resources efficiently.
- In the beginning: keep questioning yourself and your idea, get a lot of feedback, e.g. from friends, potential customers, business partners, investors, etc.
- When the business idea is ready: focused and pragmatic implementation, so that a presentable prototype is created very quickly (without frills)
- During the build: run many small tests, measure and optimize results — this applies to features as well as website design/usability and also all marketing activities.