Everyone looks forward to reading success stories of start-ups. After all, it is the classic David vs Goliath that piques the attention of industry leaders as well as the masses. Start-ups are literally a journey into the unknown and stories differ from one another. Yet, all of them have a few common ingredients to contribute to their success:
A well-defined vision is a gift that every start-up requires, for crossing the finish line. It turns out to be a major force behind an entrepreneurs success, serving as a guiding star in toughest times. A startup needs to envision how to monetize and channelize profit on every avenue they venture into- from the beginning. Good things star early and Start-ups should have a clear picture in mind.
Getting things done on an immediate basis is one of the primary reasons why start-ups are able to achieve pre-set goals and milestones. Successful start-ups never indulge in delaying the process of getting things done, and the key lies in prioritising the work. A sign of a successful organisation is making the most of the time and the value of time is immense in the current competitive scenario.
A booming start-up is competent in supervising its finances, operating in the leanest capital. Every outlet/ faction/vertical should have its own budget allotted and unnecessary expenses should be avoided. When resources are limited, and time is of the essence, companies need to know what they require. To master the skill of doing more with less is at the crux of start-up aiming for the gold.
Discipline is what every organisation should inculcate and this starts with self-control, alongside a strong self-imposed personal standard. Without discipline, start-ups falter in their path to success, even if they are strapped with the best economy. Self-discipline eventually leads to positive work ethic, which aids in getting things done effectively and efficiently. It is vital to have all the team members aligned and working together to get to the finish line.
Finally, a strong determination is always necessary for success to come into effect. A successful start-up lays great emphasis on the significance of determination when building a long-lasting business and never quits mid-way, especially when the road gets turbulent and scary. Challenges are bound to ariseand the start-ups need the determination to overcome these challenges.
One such start-up to inculcate the above ingredients is Streamlyn, a digital advertising agency connecting global advertisers with the right audience. The company started in July 2015 with revenues being $170K and by 2016, they saw a tremendous growth in revenue, close to $1.2 million. Currently, they are witnessing a growth trend of 20% per month. Although theyve started with just 5 clients, the company now is working closely with more than 110 partners across the globe.
The success of Streamlyn can be contributed to the technology behind its proprietary products, BidsXchange (Demand Side Platform) and StreamX (Supply Side Platform). The products are powered by Artificial Intelligence and Machine Learning, proving to be an aid for both Advertisers Publishers get the best ROI out of their campaigns. The three basic process that sets them above the rest are: Programmatic Optimization Engine ( a mixture of machine learning and artificial intelligence technology which merge more than 30 data points while optimizing publisher inventory across all available demand), Anti-Fraud Filter ( provides the ability to block any arising non-human or suspicious traffic in real-time) and Real-time Robust Reporting ( reporting that is real-time, robust transparent across publisher, placement, ad unit, and domain level. This opens a whole new world of niche parameters helping clients evaluate their inventory and campaign performance granularly).
Due to its highly efficient methods and proven ability to grow the bottom line, Streamlyn has contributed to the growth of numerous online publishers in terms of revenue and user base. They understand the value of content and try to give it maximum worth during monetizing.
In short, successful startups are always looking for opportunities to do something better than a competition, by conceptualising outside of the box and constantly questioning the status quo. They commit mistakes and learn from them as they continue their long, challenging yet fruitful journey.