The emergence of strong competitors

[aminaas1576]

It may be harder to "keep the bar" when hiring as your business grows. But if you compromise and start hiring mid-level specialists just to fill positions, don't expect much success.

Focus on what works and get rid of the rest.
Imagine that you have created a product. You have invested a lot of time, effort and money into it. However, it does not work as expected. But you feel sorry to give it up - it is a pity for the wasted resources. And you continue to improve, optimize, revive. But instead, you could direct your efforts to promoting a working product.

Don't be afraid to reject unworkable ideas that are dragging you down. Conversely, focus on those that show obvious potential. Constantly looking for something new is normal in the process of establishing a business. But it is not normal to support a product just because you spent money on its creation. If there is no return or profit, then cut off the idea italy email list ruthlessly and look for a new one.

Think ahead to solve problems
To ensure your profit growth strategy doesn't fail, make a list of all the problems that could hinder your business's growth. For example:

— Steady customer outflow.
— Low efficiency of the marketing channels used.
— Low profit growth.
Once you have identified potential problems, come up with several possible solutions for each of them. Then, together with your team, prioritize the problems based on the level of the greatest harm to you. And start solving the problem before it arises. For example, if you are afraid that your competitors will overtake you, increase the competitiveness of your product on the market and look for its unique features.