4 Key Strategies I Avoided to Successfully Grow My Startup
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Introduction
In the journey of building my startup, I implemented several strategies that contributed to our remarkable growth. However, it’s essential to highlight that there were even more strategies I consciously chose to avoid. Surprisingly, these are often the very tactics that many entrepreneurs rely on to scale their businesses. When I share my experience, people are often taken aback—some even shocked—by how I managed to create a multi-million dollar enterprise and maintain consistent seven-figure revenues without following the typical entrepreneurial playbook.
Are you curious about the unconventional strategies I avoided? Here are the four key tactics I didn’t employ to grow my startup.
Avoiding Paid Advertising
One of the most significant decisions I made was to steer clear of paid advertisements. According to Forbes, last year's ad spending reached a staggering $81.9 billion, but my company opted out of that trend. Instead, we focused on social media marketing. By placing our promotions at the end of YouTube videos, engaging audiences through live chats, and conducting product-free photoshoots, we built a substantial following that translated into organic sales.
We've successfully sold thousands of books, achieved hundreds of app downloads, and even filled an auditorium for meet-and-greet events—all without spending a dime on advertising. While many entrepreneurs swear by paid ads, I firmly believe in the power of organic growth. Relying on chance with paid ads can be unwise; I encourage you to cultivate an authentic audience without exhausting your budget.
The first video, "5 Things I Wish I Knew Before Building My Startup," offers valuable insights into the lessons learned during the startup journey, emphasizing the importance of strategic decision-making.
Staying Lean with a Small Team
When we first launched, we operated as a family business. As we expanded, we welcomed an assistant and joined networks, but fundamentally, our family continued to handle the bulk of the work. We could have easily grown our team, but we chose to keep it intimate for now.
Interestingly, many entrepreneurs focus on assembling large teams, yet we’ve experienced remarkable growth without one. This approach isn’t uncommon; according to the U.S. Census Bureau, around 90% of American businesses are family-owned or controlled. Even industry giants like Walmart and Ford started as family ventures, proving that it’s entirely possible to succeed with a small, dedicated team.
Avoiding Business Loans
Many entrepreneurs turn to banks for loans to finance their operations. We considered this option but ultimately decided to use our own capital to fund our expenses. This choice has come with several benefits:
- We avoid paying interest.
- We maintain our independence.
- We don’t have to deal with collateral requirements.
Taking Responsibility
I consciously chose not to engage in the blame game. Pointing fingers at others, the system, or circumstances was never part of my strategy for business growth. Instead, I focused on self-reflection: Was I doing enough to enhance the company? What mistakes had I made that could be addressed for improvement?
Many entrepreneurs believe that complaining will change their situation, but that’s a misconception. The true path to success lies in taking responsibility for your actions and striving to improve.
I invite you to share your experiences in the comments—what strategies have you avoided that contributed to your business growth? Remember, there are no universal rules for running a business; it's about finding what works best for you.
Reflections on Failure
In the second video, "My Honest Reflections After Failing to Build a Startup the Past 3 Years," I share insights on the challenges faced and lessons learned during my entrepreneurial journey, emphasizing resilience and adaptability.