There was a time when a company with a billion-dollar valuation was an experience one and not a start-up. And today, you will see more start-ups who rose to fame much earlier than expected. They are the unicorns.
The Unicorns are young, more assorted, and undergo faster growth than others. They are multiplying at an astounding rate. As of 2019, there are more than 400 companies that are categorized as unicorns. This is a good number for more aspiring entrepreneurs who dream to be the next Unicorn.

Therefore, we are presenting a list of patterns followed by some of the high-valued Unicorns. The list covers what they do differently to stand out from all and how they accomplish such unparalleled success.
Let’s dive in.

**The Power of Five - Blueprint of being the Next Unicorn

Step 1: Commit to Rapid Growth

There is a difference in being a start-up and being a unicorn. In order to be remarkably successful as a tech founder, you must have some qualities;
Be unusually driven to create something disruptive.
List your company’s core values, mission, and culture.
Believe in your product first or the service that you offer will drastically improve EU’s situation.
Create a revenue-based business model that aims at drawing profit from the first day.

Step 2: Create an MVP (Minimum Viable Product)

An MVP is ideally the first step towards your goal. Every Unicorn has started their journey of being the market disruptors by creating a minimum viable product (MVP). In other words, it is a modest, scalable contribution that stands as a solution to a real-world problem. Most importantly, MVP’s are ought to be unique than what others are offering. You simply cannot become a unicorn by re-designing a better vision of something that is already existent.

You should have a burning desire to disrupt. This could either mean histrionically improving an existing solution or innovating path-breaking product into the market.

Bigger isn’t better always, especially when it comes to tech, a disruptive tech. To clarify, customization and specialization are often a healthier gamble than products with an abrupt mass-appeal.

Most importantly, start with small. Narrow down your target market. Don’t simply enter because it’s huge. Chances are your start-up may be lost in a densely populated vertical. Relax! The idea is not to scare you but to help you understand the basics and the mistake that you should avoid.
Key Takeaway - Discover your niche, prove your concept by targeting a smaller section of the market, and then scalable towards growth.

Step 3: Build the Right Product

Once you have decided on a product, plan a glidepath on building it right. Product development is no easy procedure, but some of the most fruitful ideas started from small, from failure and a determination to turn the tables in their favour. Experiment, observe, fall, start over, and repeat until your customer engagement and user experience are completely aligned with your business goals.

Check if your idea has unicorn-level market potential for

• Achieving effortless product-market by testing your product/service with ease.
• Creating excitement about your product/service and consumers are ready to buy.
• Manufacturing and producing the product/service in bulk.
• Serving global market, if scaled fast.
• Winning with a team of aces and industry-leading experts.
• Being "disruptive." You are the only one in the game.

Key Takeaway: Unicorns test their conventions, target huge market segments, and look for key indicators and opportunities.

Step 4: Secure financial backing

Let’s be honest. It all starts with money. Cashflow is the essence of any business. Many start-ups function on a “revenue first, profitability later” model which paves the way to downhill. Next mistake they make is approaching investors before taking off.

You have to understand, investors only invest in potential unicorns. They look to invest in start-ups who have already demonstrated their capability to scale and achieve great heights if backed financially.
So, bootstrap or loan from friends, start off. It is an absolute necessity show traction to seek investments. Pin down your key sales metrics to quantify your growth. This can also help in further product development and justify additional rounds of funding.

Key Takeaway: Focus on financial and sales metrics, and provide documents that show traction and proves your ability to replicate the results even better on a larger platform.

Step 5: Select a Space to Scale

As you start from small and as your team expands, it is essential to scale with the help of companies that are committed help other companies scale. Mobulous is a company who shares the same vision like you – Your company’s success. Mobulous is an emerging tech ecosystem that is backed by latest technology and team of aces, hackers and hustlers. With various ways to help you grow, Mobulous is your ideal go-to company.
Many of the unicorns make wise use of the power of technology to achieve colossal growth. At Mobulous, backed by strong company culture and agile methodology, we help businesses reach their goals.

Key Takeaway: An important aspect of becoming a unicorn is knowing how to make use of the right people and take help from the right resources.

Scale with Mobulous

Only two percent of start-ups turn unicorn. See the brighter side — it’s possible. Have a burning desire, build the right product, start small, focus on growth, seek top investors, drive outstanding company culture and choose the right company to help you grow, and increase the chances of being the next unicorn. Every right decision will take you towards your goal. Take your first step. Choose Mobulous and leave the rest to us.

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