Growth

Think big like Groupon

StartupSmart /

TaskmasterI’ve been watching the very successful float of Groupon with mixed views.

 

As you may well have figured out by now, Taskmaster is a pretty old-fashioned guy and that makes me a little sceptical about the whole group-buying phenomenon. To me, this is basically a new version of “coupon” marketing that has been around forever. It works for some companies, some of the time.

 

Can electronic coupons sustain an entire industry? They are a fad right now, but I’m not sure about the long-term.

 

But forget that for a minute and let’s focus on the incredible rise and rise of Groupon itself, which is about two-years-old and should be an inspiration to start-ups everywhere.

 

Not only has the company gone from being worth nothing to $US13 billon, but it has also created an entire industry, sparked hundreds of start-ups around the world and employed more than 10,000 people.

 

Simply amazing.

 

The big lesson here is that it is possible for start-ups to think very big, even with a simple idea.

 

Many start-ups focus on a niche, which is completely appropriate and much less risky than a mass-market business.

 

But with the right idea and an affordable strategy for scaling up – something the internet allows small companies to do – you can crack the big time.

 

So don’t forget to dream big!

 

Get it done – today!

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