How to get to unicorn
The unicorn companies are those that reach a valuation of 1 billion dollars without being listed on the stock exchange. Given 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.
A lot of people ask how to become a unicorn or whether there are factors or characteristics that make it possible to become a unicorn. Listing them is risky, but there are several factors involved in the success or failure of a start-up that can be identified as common:
- Use of social networks to reinforce communication, thus amplifying your message and having a greater impact on your target audience. With social media investment in segmentation is lower than in television, for example.
- Develop a commercial strategy consumer centric. In other words, the customer is always at the center of the process before (developing the idea), during (producing the good or service) and after (post-sale). The user experience is fundamental, with an increasingly intense appreciation of the experience of buying or using.
- A global and accelerated expansion, since 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 key elements to achieving both goals.
- They are multidisciplinary and multicultural organizations and diversity, along with valuing talent and creativity, is part of their DNA. Their staff includes very different professional profiles, and diversity is one of their strengths when it comes to generating disruptive ideas.
- Uncertainty as part of daily operations is another characteristic, as the line between triumph and 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 specific characteristics of each of them, make these companies rare and hard to find. There are nearly a thousand of them around the world in business areas ranging from transportation to work, aerospace exploration and electronic cigarettes.
Count on us to find out more!