Week 4 Ascend Your Start-Up

 When pursuing a dream or goal, be prepared. Be prepared to go alone for part of the journey, while other times have a team or people you can trust, understand the basics, and always have a backup plan. In Ascend Your Start-Up, she climbs the last portion of the mountain by herself and forged ahead to completes the mission for her grandma. When creating a startup, it is important to be prepared with the right team once you have your product: sales leader, marketing, HR, onboard customers, tech support, accounting, and legal as part of the team. Bringing the product to market is when most people feel fear, similar to climbing to the top of the mountain alone and having to make it back down to complete the journey. With the new team, it is important to focus on distribution and your customers.


The go-to-market strategy is the step-by-step roadmap to launching the product. The product-market fit is when a product can satisfy a good market. Basically, when there is a need in a market, build a solution with your product that customers want to buy. The product-market fit can evolve based on many factors: growth stage, buyer journey attributes, product characteristics, channel capacity, deal structure, verticals, ecosystem, partner dynamic, geographics, and pricing strategy. Data-driven strategies can ensure success of the company with measurements: lifetime value of customer (LVC), cost of acquiring customer (CAC), and payback period of the cost of acquiring customer. A healthy business with this data is when the LVC/CAC>3 and payback is .0.75. Pricing strategy should be tied to value and be based on supply and demand analysis, price to penetrate the market, extension pricing, and competitive pricing. Pricing should be made simple to modify with add-ons or additional products in the future. At this stage, it is roughly halfway through the journey for the start-up. Next, there will be some ups and downs to be expected ahead. 



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