Five Steps to Unicorn Status

The first major milestone for most startups is finding product-market-fit. While this is a great step forward, it’s far from the end. I’m still amazed at how startup leaders think that product-market-fit means the hard work is done. That’s certainly not the case for the startups that aspire to become unicorns one day.

Keep in mind that only about half of startups that get seed funding make it to a Series A round. Of those Series A companies, only half of them reach Series B. At each level, only about half of all startups make it to the next. In other words, the hard work is far from over at product-market-fit.

To reach unicorn status, there is a difficult and chaotic road map to follow. There are so many things that startups must do to keep growing and ensure that they not only survive in the long run but learn to thrive. This is why product-market-fit is only just the beginning.

For me, there are five levels that a startup must reach and master to become a unicorn. That’s why I put together a video detailing all five levels on the journey from product-market-fit to unicorn status. As always, feel free to reach out with questions or if your startup is looking for help.