Rahul Chauhan says you have to, “Only 1 in 200 start ups become scale up. Start by defining your market fit. Who is the customer you are intending to serve? How do you know whether you have uncovered your true market fit? Do what you do better. Innovate with purpose”
Rahul is Group MD at Foresight Digital, a digital consultancy for scale ups and challenger brands. He explains why you need to be thinking Now – New – Next
Is your product fit for now? (70%)
Is your product able to innovate with purpose? (20)
Are you testing entirely new products? (10)
Rahul warns, if you don’t keep one eye on the horizon you quickly become irrelevant. He reminds founders on the need to keep their feet on the ground and remember the price of vanity and ego. Knowing what you shouldn’t do is more than half the battle.
What is your value exchange with your customer – 1. price, 2. social currency, education (smarter), 3. speed (core problem relates to lack of time), 4. Do you fit within an ecosystem or package (sticky, easy to connect, complement)
Have you iterated your product? Is it future proof? What’s its shelf life?
Rahul says, “Focus on scale. Turn funds into actionable growth. Structure your people and roles for growth. Make sure your team is ready to support scale because when you scale, customers expect delivery at speed – if your services are not delivered at the pace they want, you’re creating the conditions for churn.”
Contact Rahul on linkedin.com/in/rahulchauhan1
Websites
foresightdigital.com.au (Company Website)
open.spotify.com/playlist/03zw5ciFZN36QlwXCE21DA?si=91c9029ba8cc486d (Portfolio)
