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December 2, 2021

how to get to unicorn

how to get to unicorn

how to get to unicorn

As unicorn companies they are those that reach a valuation of 1.000 million dollars without being on the stock exchange. Due to their rarity they are called unicorns. The term was coined by Aileen Lee, the founder of Cowboy Ventures, in 2013 and there are several factors that lead them to go from a dream to a functioning start-up.

There is a lot of questioning about how to become a unicorn or if there are factors or characteristics that make it possible to become a unicorn. Listing is risky, but there are several involved in the success or failure of a start-up that can be singled out as common:

  • Use of social media to reinforce communication, thus managing to amplify your message and make a greater impact on your target audience. With SOCIAL MEDIA the investment in segmentation is less than, for example, in television.
  • Develop a business strategy consumer centric. In other words, the customer is always at the center of the process before (idea development), during (production of the good or service) and after (after-sales). The user experience is fundamental, with the increasing value of the purchase or use experience.
  • A global and accelerated expansion, as start-ups with quality and ambition are born with a global mindset and follow a strategy of becoming big as quickly as possible. Betting on internationalization and having a scalable model are fundamental elements to achieve both goals.
  • They are multidisciplinary and multicultural organizations and diversity, in addition to valuing talent and creativity, is part of their DNA. Their staff have very different professional profiles, with diversity being one of their strengths when it comes to generating disruptive ideas.
  • Uncertainty as part of daily operation is another characteristic, given that the line that separates triumph from failure is very thin. This type of company learns to deal with constant ups and downs, thus developing a unique resilience.
  • Effective and impactful communication, capable of conveying the most captivating ideas in an inspiring way, making an impact and attracting investment.

These, and some other characteristics specific to each of them, make these companies rare and hard to find. There are close to a thousand worldwide in business areas ranging from transport to work, including aerospace exploration and electronic cigarettes.

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