FinTech startups like Uncapped or Receeve are redefining the industry by creating an ecosystem around their clients to serve their needs better. B2C businesses like Gorillas are innovating on existing business models creating a whole new kind of offering.
There's no wrong or right way to go-to-market. Naturally, misconceptions were created along the way. We're debunking them with examples of young companies demonstrating incredible growth—often through unconventional approaches.
Timing is crucial
Timing can be crucial to reach hypergrowth. It's not a must. The key to making the most of your timing is to differentiate your solution - to your advantage.
It is the case of the latest social media trend, which took over the way iPhone users were spending the majority of their time on their devices. Launched in April 2020, the company Alpha Exploration Co. launched Clubhouse later that year.
Until January 2021, the app had about 1,500 users and was already valued at $100M. Since then, Clubhouse has welcomed around 2M active users weekly (a number continuously increasing).
The team behind made the most out of the BETA testing phase to create a sense of exclusivity and FOMO ('fear of missing out'). By creating this extremely strategic and invitation-based hype, people can invite friends or people they know to guarantee that users are only active. It created the best brand ambassadors.
Timing isn't always crucial. Focusing your understanding of the marketplace and targeting customers from the get-go should be the priority.
Our team needs to come from the same industry
Teams make or break businesses. The perfect team can exist for your company. But you need to spend enough time on your recruitment strategy to build the best team possible to execute the company's ideas and mission.
Founded in 2020, the London-based startup Heroes focuses on acquiring, operating and scaling SMEs. By offering brand owners a profitable exit plan, the startup's team is on a mission to develop these brands further.
Their human approach is one of the key ingredients making them stand out in the European market. By leveraging its flexible and in-house expertise, Heroes is on track to becoming the European FBA's ecosystem leader. With its latest funding round of $200M, the startup continues to buy more and more brands.
Building the right team takes time. But the return on the time investment spent in recruiting the proper actors will be substantial. Without them, you won't be setting yourself up for sustainable success.
We'll build a product accessible to everyone
The reality is, not everyone needs your product. So there's no point in fixing fake problems. It is better to focus on helping people who will actually benefit from your solution.
Focusing on what seems like a very restricted audience can feel scary. But commercialising your product early on with very targeted customers can be profitable and the best way to improve your offering.
The truck EV industry hasn't seen many developments. Due to its environmental impact, change is now. With ongoing institutions and government legislations, the need for an electric vehicle for fleet managers is imminent.
Founded in 2019, Volta Trucks features an innovative business model on a mission to reduce freight deliveries' impact with commercial vehicles' electrification in inner-city distribution.
They've created the Volta Trucks' innovative Truck as a Service (TaaS). It is a single monthly fee that provides full-electric Volta Zero vehicle access. This agreement is a package of insurance and service maintenance.
This pioneering program has allowed them to fill their order book with a total amount of $260M before starting their production phase.
The Stockholm-based startup's solution highlights their understanding of this specific market's issues. By targeting a very niche audience, companies needing to align with approaching new regulations, Volta Trucks are building the perfect product with the clients who will buy it simultaneously.
A few years ago, most hyper-growth startups were essentially focused on building the product they wanted to launch. It would be only after the MVP is completed (or sometimes a v1) that they would start finding customers.
As time goes by and founders become more experienced, it’s become clear that Involving your targeted customers in the earliest stage of building your product is the key to embarking on a successful go-to-market that will translate into continuous growth.
As with any strategy, experimenting is essential to continue going to market.
This article is based on a research report conducted by Launch Mappers, The 15 future unicorns launched in 2020. Throughout this paper, you'll discover (or rediscover) companies that understood their markets and customers so well from the get-go.
David Odier is the founder of Launch Mappers and Nour Hassaïne is Junior Growth Marketer at Launch Mappers
