Startup Founders Sometimes Struggle to Transition to Growth Phase
I wrote my first article for Business.com 5 Reasons Promising Startups don’t scale. It was fun to write and I look forward to writing more. Writing is a great way to get your thoughts together on a topic.
In the article, I focus on the big transition a founder/manager needs to make to switch from startup to growth phase. Raising growth capital is your way of telling the world that you tested the market and have a solution to a need or problem. That is only true if dollars in can be converted into growth.
This phase requires all new skills and focus and the founder is expected to shift his or her own focus on a dime. This entails many things. The critical focus on the company is on marketing and sales activities. Marketing is critical to reaching the audience that you built the solution for.
Company operations need to change a lot too. The founder needs to empower his teams to become leaders and building a top notch management team that can stay aligns with strategy and execute are a critical test of leadership.
Another point I make is about getting better about performance management. Impressing the funder is the key to success but at scale this leads to odd behaviors, distorted incentives and bad execution.
Please check out the article and consider sharing it on your social platforms. Also send me any suggestions that you have for future article ideas.