9 out of 10 startups fail. In those 9 that fail, based on a CB report a big percentage fail, in spite of having a great product, because they lack the right GTM strategy, sales leadership, market approach and mindset.
With technologies like Cloud, Wi-Fi, LTE/5G and IoT making it much easier for potential founders with spin-off companies in cafes and garages, the number of the companies that provide compelling yet overlapping solutions and value propositions would only increase – geometrically that is.
So startups have a dire and immediate need to have the right mindset, along with culture, team and product differentiation.
What’s an Iconic Mindset? Startup leaders need to be oriented and coached to focus on building relationships, understanding buyer imperatives and the value they expect before positioning their product as a “do it all” fix.
ROW is a framework of how this mindset can work. ROW stands for Relationship, Outcomes and WIIFM (What is in it for me), which are the critical dimensions of a pursuit.
How does one hone their “Iconic Mindset”?
- Be a genuine giver. Not getter – Give to Get (G2G) ratio
- Interactions should yield higher Trusted Relationship Quotient
- Holistic focus on the Heart-2-Mind (H2M) paradigm
- Focus on the lifetime value (LTV) of the Customer
- WIIFM is the bottom line for every buying decision
Companies need to invest in building the right culture, mindset, and approach towards the market to bring in holistic and sustainable evolution from where they are now. Happy to answer any queries or discuss ideas and opportunities you might have. Please feel free to reach me at anand.muralidaran@