The goal of every tech startup is to reach a valuation of $1 billion. Here are 12 qualities to develop if you’re aiming for a unicorn business.
Ever considered starting a business? It looks like a lot of time and effort is required to develop a product, open a firm, and develop a business strategy. So what makes a Business successful?
If you're knowledgeable about the entrepreneurial world, you've probably also heard of the infamous term "Unicorn." Any start-up that surpasses the $1 billion milestones is referred to as a unicorn in the business world. And you must be aware of the specific qualities required if you're working with a team to develop the ideal marketing strategy for a unicorn business or if you're aiming to become one. A Unicorn Marketer is the one that has a lot of potentials to drive a firm's marketing strategy in a direction that leads the sales up to the roof! So, what does it take to make a Unicorn Marketerof today? Let’s dig deeper to find out:
1. You have a robust analytical skill set
The power to analyze things in the world of today is divine! With the world running on data, if you can work towards making even the slightest sense out of it, you’d be good to go! There isn’t a leaf today that would move without generating billions of bytes of data (metaphorically, not literally!)
A theory suggests that you have an analytical bent of mind if you do the following:
You question everything
You’re an information addict
You are methodical
Love intellectual challenges
Skeptical, and you are okay with being indecisive at times
The answer is: If you’re able to decipher data like no one else, you’d always have the edge over others in understanding what your audience wants.
The kind of data you have is not as important as the way you use that data!
2. You are a proficient storyteller
It helps a lot to know how to convey a message in the world today. So if you can devise ways of selling the exact old wine in a new bottle, you’re good to go in the marketing arena!
One way to communicate your point is to tell it through a story! A good story goes a long way in helping people remember you and remember your brand! Why?
Stories evoke emotions; they help your audience feel connected to your brand. Once they feel connected, they wouldn’t want to let go!
3. You are sincere
This isn’t something of a mandate to be a good Unicorn Marketer but is kind of fundamental in any work you take up. Sincerity goes way beyond any hard work or dedication would!
If you’re sincere in your tasks and are doing whatever it takes to connect with your audience with your full force, there’s no cat in hell’s chance that you won’t get the long-lasting connection you’re looking for to build your brand’s value.
4. You are resourceful
A good employee of an organization works as an asset; an excellent asset to an organization, in turn, is the one who is always resourceful!
If you wish to know the Mantra to be a great asset to your startup, understand the following, and imbibe it deep within your heart:
In the ever-growing fast-paced world of startups, if you wish to succeed, all you need to know is how to solve problems -- and that too quickly and efficiently!
I understand that this is a lot to ask, but if you’re able to solve the issues your unicorn business (or your managers) are facing at a fast pace and in a very efficient and optimum manner, you’d be set for life!
5. You are relevant
If there is one thing that cannot get enough attention, it is the idea of staying up-to-date! Gone are the days when you could publish a massive poster-size advertisement of your product, and you’re good to go. Instead, you need to stay updated, follow the latest trends in marketing, and ALWAYSfocus on your customer’s experiences!
6. You have a clear objective
There are a lot of leaders who know that they wish to succeed but don’t know what they want to succeed in. How they want to achieve, or if they wish to follow relevant targets. Just knowing that you want to grow isn’t enough today.
You need to be clear about all the objectives that you have in your mind. A better solution:
Draw out a list of all the things you wish to achieve. Then start mappingout priorities for each of the tasks at hand. Prioritized functions with the kind of importance, urgency, and outputs it’ll give you in the short and long run. This seems like a lot of work and commitment, but good things never come quickly these days.
7. You are driven and motivated
Working for a startup or an organization that works at a fast pace can be kind of tiring and de-motivating at times. However, you should never lose your vigor and urge to learn, do, and be more!
Get up every morning with the motivation in mind that you need to be the best of the lot and that you need to strive to better yourself every single minute. This will go a long way in developing you not just as a marketer or a leaderbut also as a person!
8. You are humble and open-minded
In the years I’ve followed the news about startups, thousands of knowledgeable, talented, and capable people lagging due to their egotism and idea of superiority over others.
And what I’ve learned from every one of their stories: Always stay humble and open-minded to suggestions. If you’re not willing to listen to your peers, your seniors, as well as your juniors alike to understand how you can better perform, and unless you’re open to listening to critique and feedback from the world around you, the path might just be more tricky for you to traverse!
9. You keep your audience in mind
While building an organization, your team works together to deliver a product to your customers! And if your product doesn’t cater to your customers’ needs, what good would your company do in the long run?
A marketer must understand the importance of customer-centricity! All significant firms in the world today plan out their business & marketing strategies around the needs of their audiences.
10. You have vital SEO skill
If you’re a budding marketer and have been working day in and out to develop your brand in the outside world, then there's a great chance that you must have heard the infamous SEO jargon here or there!
Since the inception of Search Engines (such as Google, Bing, and Yahoo), there isn’t a company in the world that wouldn’t use SEO (Search Engine Optimisation) to up the ante for their brand. SEO is the first go-to task that every marketing executive would use to popularise their brand and generate better leads on the internet. As they say, if they have good visibility online, it ought to sell well too!
With this, we’d like to wrap up by saying that there are many things one can do to become an exceptional marketer, but more so to become a Unicorn Marketer of today!
11. You have to dig deep
You have a better chance of finding that 2 percent sweet spot where unicorn results flourish. The more things you test, the more you discover.
Unicorns have been observed acting in ways that seemed utterly foolish. However, as you can indeed predict, those were the actions that produced brilliant outcomes.
Some unicorns have engaged in behavior that hardly qualifies as marketing. However, labels are irrelevant to results.
And the questionable marketing strategies brought in millions of cash for their unicorn businesses. Results are what counts, after all.
12. You have to be addicted to goals
You'll discover your unicorn business growth hack if you're addicted to results, demand results, and try anything.
Unicorn marketers are sometimes stubborn. They don't like to follow instructions or adhere to a playbook. Instead, they simply care about the results.
Donkey marketers adhere to all regulations and guidelines in the belief that they will succeed in marketing by doing so. Five blogs posted each week serve as their primary output metric for success.
But for Unicorns, these artificial regulations are ignored. They don't follow instructions, think outside the box, color the lines, and do strange things.
They are interested in whether or not your tireless efforts yielded significant outcomes. Results are the only things that matter.
Do you think you follow any of the above traits to achieve what you wish to? We hope you do!
Sawaram Suthar is the founder of TheNextScoop and Jagat Media. A digital marketing consultant, he has experience in branding, promotions, page optimization, research, and strategy. He has an MBA from the University of Pune. Anyone can find him on Twitter @sawarams.