While working with a small, struggling startup, Your Startup Coach was able to better position their talent and identify their target market in a measurable way that increased their contracts by 10-30x.
Your Startup Coach (YSC) works with select businesses that have the potential to become flagship brands within their industries. The startup space is crowded, and it takes the right product-market fit and strategy to position yourself in a way that helps you stand out from the competition. Through only two days of intense strategic planning with an experienced coach “Company A” was able to redefine its brand for a better market fit to meet the needs of its local market.
While working with Company A, we have been able to help them carve out a unique niche where their talents shine and they serve their customers in a way that adds massive value.
The Problem for Company A
Company A was soliciting their services to hotels and libraries. The challenge was that these businesses didn’t understand the value Company A’s services would bring to their business. It resulted in a long sales cycle that ended up in a minor contract with very little profit margin in most cases. Company A hired people on contract and lost talent because they couldn’t promise enough work.
The YSC Solution
When working with “Company A,” we first began with a 2-day strategy session. During this session, it was identified that Company A didn’t have the right product-market fit, a strong value proposition, or the proper messaging to attract their ideal client.
We went through a number of exercises and helped them draft a business plan that identified an avatar who could see value in Company A’s services. This led us to refine their pitch and website messaging, and draft a proposal that showed the value their customers would get by saying “yes” to working with Company A.
The Result–10x Revenue
The investment Company A made in 2 days of strategic planning with an experienced startup coach resulted in contracts that were a minimum of 10x larger than their previous contracts.
Additionally, the sales cycle became much shorter, their burn rate decreased, they were able to retain top talent, and within 6 months they had 6 months of cash reserves in their account.
Company A was able to secure two contracts that surpassed its annual revenue of the previous year. And, when Covid hit, they were able to use the tools they had learned during their strategy session to pivot quickly, find an alternate – an equally beneficial avatar – and continue their year-over-year growth.
YSC helped this amazing company position itself as a distinctive brand and carve out its niche in the marketplace, rather than becoming lost in a sea of competition.