Startup is always costly unless you find a way to make it lucrative and easy in profits,
So what is coming in your mind is same I am thinking about , Startups need Cash and Bank Balances ,
How to make a Startup into a Profit Centric burning Machine is as follows:-
If you wish to make your startup go profitable then you must make it more friendly on survival Side and the way to make is getting out of cost burden and matching COST and EXPENSE with REVENUE streams and great way to make it happen is by generating more Revenue and coming to survival mode ,
This is done only when we fix time bound Survival options .
Reducing Cost of Acquisition:- The basic purpose must be reducing the Cost of Aquisitions of getting customers and if we not able to reduce it some how its burning the revenue flow so to tap it we must make it happen.
Increase the Customer retention:- Way to get profits is to make new customers come in and inviting but not leaving old customer base so this must not be forgotten while thinking about profit increment. And it can be done by making a connect of communication between customer and the startup.
Eradicating Attrition:- If your best human resource leave your startup , then surely something is wrong somewhere identifying same and eradicating the same must be done quite reasonably well.
Creating Brand Recognition and Life time value:- If your startup is good in understanding valuation of Branding then nothing can stop you in making profits out of your startup.
Innovation :- If your startup not moving as per time and needs of time and customers then profits wont be in your startup pockets for sure so add latest technology science and metrics in your startup weapon force.
Providing best support to customer:- Nothing to say for this as itself defines itself.
Scale up the marketing and increase the methods of talent retention :- And great way to do is do what you good at and never underestimate competition in marketing and other aspects and never leave talented employees or allies.
Expand Fast and make Joint venture or associations as early as possible :- Get the most out of first Mover advantage and use the same in expansion, we cannot be everywhere every time lets use power of connectivity and associations and joint ventures.