Many startups fail because the team does not function. Building the business is reactive rather than proactive. The team might also be young and inexperienced or older with an “I already know how this should be done” attitude. As a founder, you get frustrated when you see all the things ahead. However, there is nobody to pick up the balls that you throw in the air. Who is to blame but yourself?
It can feel safe to look at hard facts and historical numbers when steering your business into the future with buy-in for your team and stakeholders. However, staring at figures and data can sometimes just be counterproductive. The covid pandemic has more than ever proven that historic numbers are not sufficient as a means for steering a business, as we all became aware of the constant transformation occurring everywhere, not only within the startup ecosystem but for any business large or small.
Furthermore, start-up or scale-up entrepreneurs tend to rely on the initial success and forget to spend time on continuous work to understand customer behavior on a deeper level such as purchase patterns, buyers versus users, availability of time, behavior obstacles, etc.
The whole startup community is swamped with advice on how to grow and to build a structure with processes, goals, and KPIs. Lots of energy is invested to define values and ways of working. The end goal is to become productive and expand the business.
Why do we often go wrong here? We start with efficiency rather than relationship building. At most meetings, we dig into daily matters at once. We are immersed in business issues, organizing ourselves for more structure, and pressing for more growth.
It is very hard to reach top productivity when rigorous structure gets in the way. And what about a culture that nobody lives by and nobody who dares to pinpoint the issue? Continue reading “Why trust is the foundation for productivity!”
In a conversation with our founder Maria, we discuss the stigma around some of the suppressed parts of the founder role. This is due to the current glorified view of entrepreneurship. The media portrays founders and their lifestyle as glamorous where the entrepreneur is his/her own boss, making the rules, and everything is hunky-dory. Unfortunately, this view is not realistic. Continue reading “Do founders feel alone at times? 5-Step guide to finding a speaking partner!”
Balancing priorities of long, mid, and short term is the main challenge when scaling your business. All businesses have a shortage of time, money, and resources. Funding does not necessarily solve this, as it tends to turn into tougher goals. Raising tens or hundreds of millions means you need to spend that money even more wisely with higher expectations from shareholders.
Continue reading “Founders challenge to prioritize – 6 steps for a better balancing act!”
What does scaling mean exactly?
Scaling means expanding your business in different ways whilst repeating a proven pattern of success with sustainable KPIs. This should not be mixed up with just growing your revenues at any cost.