Growth Strategy Swipe File: 5 Companies That Nailed It

A growth strategy is a collection of tactics designed to help businesses increase their market share, focusing on key areas for sustainable growth. There are five types of growth strategies: Market Penetration Strategy, Product Development Strategy, Market Development Strategy, Diversification Strategy, and Acquisition Strategy. Examples of successful companies that crushed their growth strategy goals include Dropbox, Zapier, Terminus, Postmates, and Buzzfeed. Tips for creating an effective growth strategy include learning from competitors, identifying revenue opportunities, staying true to the mission, investing in smart minds, leading with ideas first, identifying ideal customers, and using available data.