Five Scaling Tips For Founders Of Wellness Tech Startups
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- January 03, 2024
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The co-founder of Reframe, Vedant Pradeep shares his insights into how to efficiently scale wellness tech startups. He emphasizes that it's more than a marketing function, it's about developing a product that is both valuable and retains customers. This was not an easy process for Reframe, but by continuously interacting with users and understanding their needs particularly for their alcohol reduction application, the firm was able to grow rapidly.
From his experience, Pradeep shares five tips that startup founders in the wellness tech space might find useful. First, focus on growing by 10 times rather than 100 times. Concentrate on the next milestone, not the ultimate goal. Flexibility is important, strategies that once worked may no longer be effective.
Second, he suggests looking beyond traditional methods for scaling and engage in seemingly unscalable activities - connecting with targeted niche communities, attending local gatherings, or finding creative ways to onboard users.
The third tip relates to product development. Rather than waiting for perfection, adopt a minimum viable product (MVP) approach. Release your product or feature promptly to gauge interest and gather feedback for improvements but strike a balance between rapid launch and a usable product.
His fourth tip involves creating a user experience that adds value while reducing cognitive load. The focus should be on the core user experience, avoid overwhelming users with resources and streamline information presentation.
Lastly, Pradeep speaks about engagement as being as vital as efficacy. Keep users engaged so they come back to use the app repeatedly, as habit change doesn't happen overnight. It is crucial to build engagement loops that let users see their progress and understand the value of the product. He concludes that these strategies to scale up are particularly beneficial to wellness tech startups.
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