How to Gain Traction as a Startup

 Possessing over 35 years of business experience, David Mindich is the founder and owner of Thermal Paper Direct in Mahwah, New Jersey. Under his leadership, Thermal Paper Direct has been recognized as one of the fastest-growing companies in the United States. David Mindich also invests in startups and leverages his skills and expertise to help these companies grow.

Not all startups experience overnight success. Because startups generally start small, there might be a lack of customer awareness that could derail a company’s chances to grow. However, there are several strategies that startups can implement to gain traction.

Branding is an important strategy for reaching target customers. It typically embodies the message and product experience companies want to impart to their customers. Startups can cultivate brand awareness through design, messaging, advertisements, and social media platforms.

In addition, instead of perfecting a product before launching it to the market, it is better to create a minimum viable product and recruit early adopters to test it and provide valuable feedback. A minimum viable product is a version of the product with just enough features to attract customers. By showcasing it early on, startups can validate the need for the product and eliminate unnecessary features. Essentially, a minimum viable product closes the gap between what the company envisions the product to be and what the customers need.

Establishing partnerships with influencers and other high-profile brands is also an effective strategy for gaining word-of-mouth recognition and expanding market reach. Influencers have the platform to market a product to an engaged community. Startups can also integrate their products and services into the existing offerings of popular companies.