Application of the Quantitative Strategic Planning Matrix in Evaluating Startup Development Strategies

At the outset, startups need to choose a strategy that will enable them to operate in the long term. A proper strategy for startups ensures the development and overall viability of their products or services. The present research was conducted to identify the most suitable development strategies for startups in the Baltic States. Accordingly, the research aims to evaluate alternative startup strategies, considering external and internal factors. Research methods: monographic, SWOT analysis, and the quantitative strategic planning matrix (QSPM). Experts were selected using the targeted sampling method, based on the following selection criteria: experience in startup management or active involvement in the startup ecosystem in the Baltic States. The research involved 12 experts from Latvia, Lithuania, and Estonia. The research was conducted between November 2025 and January 2026. The geographical coverage was Latvia, Lithuania, and Estonia. First limitation of the research was that it provided insight into the five proposed startup strategies for the Baltic States, while other alternative strategies were not considered, given the limited scope and the need for in-depth analysis. The second limitation was that the sample includes 12 experts, including representatives from all three Baltic ecosystems, but they are not in the same numerical ratio. The main conclusion was that the intensive strategy was the most significant one. The second most important alternative strategy was the financial strategy. The least important alternative strategy was the sustainability strategy. The results showed that startups in the Baltic States focused on intensive market entry and product development, as well as strategic financial management, to develop in the long term.