DOUGH THE DISTANCE
Four Honest Tips For Startup Founders On Making Money
Startup founder and CEO Randy Baker shares some frank advice about how to start a company that thrives and profits.
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The Lede
Serial entrepreneur Randy Baker explains what he's learned over his years starting and running successful companies — specifically, how to ensure the company you start actually makes money. Here's what he thinks you should be doing in the early stages of your startup.
Key Details
- First, you want to both gain and retain customers by offering an additional product at another cost tier to provide more value for existing customers.
- Two: rather than chase a lengthy to-do list of all the things you've read that startups should be doing, focus your full attention on the things that drive financial results. Third, to that end, hire a team that fills out the gaps in your expertise.
- Finally, don't fall in love with your product: if you're uncritical of it, you can't improve it.
