We are officially done with the first month of 2020, and by now many entrepreneurs must have already put their start-up growth model into the first gear. While many would want to scale their efforts to a whole new level, defying business limitations and sheer practicality. The ‘wanting to do it all’ attitude of entrepreneurs is proving to be a real bottleneck for their success to arrive just in time!
From growing into new markets, on-boarding new talents and strapping new parts to a business, all of this give them a purview that they will achieve it all. While being confident about one’s own abilities surely accentuates positivity, however getting overwhelmed with all of this is, without a doubt, a red flag to success.
Therefore, we have come up with a couple of tips to help established and budding entrepreneurs alike to scale their start-up in a controlled yet accelerated way:
Look Ahead with Curiosity
When considering major milestones for your company, it is better to be curious than to be assertive. We recommend this to avoid any desolation, which might step in if things did not go as per your plan of action.
In our experience, the most successful scale-ups in the past were based on the curiosity about how and at what pace the industry is moving. In addition, where it intends to be in the next five or ten years, and not just a year ahead.
This cannot be achieved if you are adamant at receiving all the good bits in abundance. The best bet is to plan accordingly as per market status and be curious about what you could do next. Remember, every upgrade should be ‘one at a time’.
Work as a team – Achieve as a team
Before you begin assessing the opportunities to expand, it is important to reflect on your past.
The best step forward would involve your team in it. Have open conversations, brainstorm new ideas and find flaws. Better if you take your closest competitor as an example and see where you went wrong and they hit the bulls’ eye and vice-versa. Make sure you never lose the spirit of working together as you grow sustainably.
Define a clear value system that should be consistent across your different business verticals.
Take these tips as your learning curves, and share these learnings with your wider company. Make sure you know your product inside out before making any plans for expansion.