Why Monetization and Growth Are Difficult for So Many Companies

By Vouchley

Many companies who are just starting are focused on one thing, numbers. It can be easy to become focused on having as many users of your product as possible and many people think that the only way to do this is to hemorrhage funds and focus on getting as many eyes as possible. While having consumers is important it is not the thing that is going to jump start your company, monetization is what is going to push you to success.

Without monetization there is no way to continue to grow the company. While it is a harsh reality, money is what makes the world spin and it is a necessary component to growing a business. As stated earlier many people just focus on having eyes on their product at first without focusing on pricing. A lot of people give their product out for free to begin with in order to have as many users as possible. While this can definitely help you get started, most people do not know when to call it quits with this practice. Offering free product can only take you so far and it can be detrimental if you do not take the next step towards monetization in order to keep growing.

In order to be able to monetize a product or service, you must be able to focus on the quality of what you are giving to people. If you are giving something to someone that is low quality it is not going to make them, tell others and encourage people to purchase what they have. Many people only focus on the beginning and do not end up making enough to take the company to the next level. The reason this loop continues to happen is because it can be easy to get tunnel visioned on getting users but what people don’t realize is that it is just as important if not more to get repeat users. Monetizing a product requires a certain quality for people to want to give something in return for it. Growing the quality of the product as well as the quantity will bring people towards you instead of you having to do all the heavy lifting to drag people in the door.

Growing a company is no easy feat and many people get caught up going from the bottom story to the second. This is where most companies fail, within the first year a majority of businesses will not survive to see the second. This is due to focus being directed to the wrong area. Instead of focusing on quality and the value of the product, owners focus on bringing product to the consumers. Once you begin to have consumers coming to you for the product is when you will start to notice the largest growth in your company. Monetization is the only way to create revenue, and the only way to monetize is to have people who pursue you and whatever you offer in return for the monetary exchange.

Business owners are up against a wall when starting something new. We live in a world of over saturation and it can be hard to stand out. Many people begin with big dreams and then once they have to monetize and grow, they fail. It can be a tough jump to make once you begin to grow in value, but if you focus on quality and continue to put yourself out there, consumers will naturally flow to you.

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