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Can you organically grow your business with a least risk approach?
I'm an IT contractor, but also I have a small SAAS business that I'm growing. It basically just costs me time and effort to code, and some hosting monthly costs at the moment. I'm not in a hurry to make a zillion quid and I want the business to grow organically
I want to enjoy the experience and journey of how to do this. I am not afraid or hard work or taking risks, but I don't want to bet the house when I don't know how the business is going to go.
I can hear the commenters sharpening their pencils and drooling at that comment. Hear me out.
When you start a project you might have some aims but its unlikely that a business plan won't need amending "as you go". You might start in one market and pivot to another.
It seem to me that managing risk ( specifically risks for me are business costs ) is important but it seems to be in conflict with the established "best practise" on how to grow a business. I've got books on the subject and that all say the same thing
- Start with a niche idea
- Research the market for demand
- Register for this and that, get permits et al
- Sort out your branding
- Start marketing
Ahem, something missing here. How about create a fantastic service or product, that reliable and useful. That's been designed to work well or taste great, that doesn't cost the earth.
How about focusing on a product or service that's actually worth having rather than the business process.
I had a meeting with a marketing consultancy recently, Told them all about my App and my ethics and desires for the business. AND they said you need need to spend over 20k per month with Mr Google and FB for the next 6 months to promote the business. To get it Infront of people.
WHAT!
A free app to spend 100K to attract traffic so that you can convert them paid addon's. I quizzed that advice and mentioned I'd need to take a business loan on fund this. The reply was smug in the extreme,
"That's how you start a business in 2025"
Sorry, that can't be right.. can it?
Can't someone just decide to create a product or service that is just frankly better than the market has already. That people will organically find out by word or mouth (like we all did with Whatsapp or sourdough bread) how great the product or service is and want it.
Can that not happen any more?