5 Growth Strategies for Businesses To Thrive In 2024

Saurabh Kumar  
VP—Growth & Partnerships "Mudrex"

Saurabh Kumar, a seasoned professional since 2013, has a rich research, sales, marketing and strategy background. His experience includes being an Engagement Manager at Growth Trek, an Advisor at Deshkal Society, and the Associate Vice President at Mobisy Technologies Pvt... Ltd. Currently, Kumar is the Head of Growth and partnerships at Mudrex. Academically, he holds a BBM in Finance from Alliance School of Management and a Management Diploma from the London School of Economics (LSE).

5 Growth Strategies for Businesses To Thrive In 2024

The tides are turning, and positive sentiment is starting to pour into the market. Businesses are pushing full steam ahead and looking to maximize output as the markets prepare for a major growth phase in 2024.

During this period where everyone’s competing for a seat at the grown-ups’ table, here are 5 growth strategies I consider potential game changers.

Nothing Borrowed, Everything New

There’s no better way to set yourself apart from the competition than to create something the market’s never seen before. Do your market research, find a pain point no one’s addressing, and go all-in on the solution.

Transcend Boundaries (Literally)

Once you’ve perfected your product, one of the best ways to grow your business is to expand to an international market (if it is within your capabilities, of course). This essentially doubles your advantage- for one, it’s an all-new market to explore and grow in. Two, an expansion of this sort can provide a massive boost to your reputation and brand awareness.

Upsell, Cross-Sell, Repeat

One pattern I’ve observed recently is that businesses tend to focus a lot on bringing down their Customer Acquisition Cost (CAC) when they could be putting their efforts into increasing a customer’s Lifetime Value (LTV). Once you have acquired a customer, upsell and cross-sell- add enough value to your user, and I assure you, they will keep coming back for more.

Make Them Talk

Marketing is one of the most expensive aspects of a business. But there’s one distribution channel that’s absolutely free- word of mouth.

One thing that sets good companies apart from great ones is a top-tier customer experience. A memorable experience makes your product immediately recommendable to peers.

United We Stand (And Grow)

One of the hardest but most effective ways to grow your brand- partnerships. Finding the right partner(s) and building together can be beneficial to all parties involved.

For example, take a look at Mokobara’s partnership with Indigo to launch a line of air-travel-friendly luggage. This is a venture either party could’ve done by themselves, but the authority they command in their respective spaces creates a product that essentially sells itself.


With the right strategy and the right team, businesses can see exponential growth in the current market climate. So if you believe you’ve built a great product and figured out your channels of distribution, double down and pedal to the medal!

P.S. Bonus tip- If you’re a B2C business, user-generated content is a great avenue to explore in terms of marketing your brand.