During your startup journey, many questions have already hit your brain – are there new opportunities to grow in your current market, what are the new platforms for promoting your product or service and is there a need to make your product or service look more fancy and attractive for your customer?
Before you continue your journey, the inputs from global reports and studies can provide some inspiration about “nailing it” and overcoming challenges with scaling up your startup:
Timing
Knowing the “right time” to scale up – This is something which every speaker or business guru would have talked about in every meetup or tech event that you would’ve attended – Get the timing right. Startups usually spend a lot of their resources on creating a new team, spending a lot of money on marketing and “cool” offices; while the focus is always supposed to be on “what customers want.” Remember – scaling up is about taking the right decisions at the right time.
Common motive
Having a common mindset – Most of the time, startups are a team of 4 or more people who come together with some common objective of what they want to do with their ideas. So, when it comes to scaling up, there is a need to have a common motive to grow the business else there is little chance that it will grow in the right direction.
Process
Moving from people to process – Doing multiple tasks parallely and introducing new roles is a natural progress to the scaleup stage. Chances are there would be times when work done by individuals are now done by cross-functional teams. This is important while scaling your startup and one big challenge to overcome because teams are more productive when they are working on a well-defined process.
During TechBBQ 2018 in September 24-25, you will for sure get the opportunity to find more knowledge and inspiration about how to crack the code of growth.
3 fab links – if you want to read the international studies and reports:
https://www.inc.com/brian-halligan/how-culture-changes-when-your-company-grows-from-startup-to-scaleup.html
https://www.iqvis.com/blog/startup-scaling-strategy-tips/
http://3slandingpad.org/2018/02/07/the-most-common-5-challenges-of-scaling-your-startup/
