Weekly Business Insights from Top Ten Business Magazines | Week 287 | Entrepreneurship Section

Extractive summaries of and key takeaways from the articles curated from TOP TEN BUSINESS MAGAZINES to promote informed business decision-making | Week 287 | March 10-16, 2023

6 Keys to Getting From Idea to 400 CustomersGive your first customers a no-risk, high-return value proposition.

By Peter Cohan | Inc Magazine | March 7, 2023

Listen to the Extractive Summary of the Article

Tel Aviv-based Zesty automates cloud optimization actions in real time. Since launching its service in 2019, Zesty has raised $116 million, won 400 customers, and hired 150 employees.   Here are six principles that helped Zesty achieve so much in so little time.

1. Pick the right problem to solve.  To be successful, a startup must solve a problem that relieves a customer pain, one the founder understands well.
2. Build trust by offering an irresistible value proposition.  To win customers, a startup must build trust.
3. Expand your customer base by making your first customer very happy.  To build your product and win your first customer, you should co-develop with a friend who wants to be ahead of the pack.
4. Raise value-added capital.  Startups should raise capital from investors with a great record who will help their company grow.
5. Create a powerful culture.  Many founders say culture is crucial to their success, because it reflects the founders’ most deeply held values. 
6. Hire the best people.

2 key takeaways from the article

1. Tel Aviv-based Zesty automates cloud optimization actions in real time. Since launching its service in 2019, Zesty has raised $116 million, won 400 customers, and hired 150 employees.   
2. Here are six principles that helped Zesty achieve so much in so little time: pick the right problem to solve, build trust by offering an irresistible value proposition, expand your customer base by making your first customer very happy, raise value-added capital, create a powerful culture, and hire the best people.

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Topics:  Startup, Entrepreneurship, Culture