According to some estimates, around 75% of venture-backed companies fail to provide any return to investors. A staggering 30-40% of startups liquidate all assets before folding completely. For many teams, this high-growth period poses an extreme risk even as scaling also offers exciting opportunities. Before you start to scale, it’s helpful to look at common reasons why startups fail—and how to circumvent these problems.
This is a great quote by Thomas Edison, often considered one of the most prolific inventors in history. Here’s a great quote from Steve Case in today’s New York Times: “I do believe in vision. I do believe in big ideas. I do believe in tackling problems that are complex and fighting battles that are worth fighting, and also trying to, in my case, create companies or back companies. That can change the world.
What makes someone a growth leader? In conversations we’ve had with business leaders, the answer tends to boil down to a variation of “I know it when I see it.” But it turns out that there is a specific set of attributes that growth leaders share. After carrying out a survey of 165 C-suite executives and senior vice presidents with growth responsibilities and conducting in-depth interviews with 20 executives, we found that growth leaders1 have seven specific beliefs and behaviors.
Many companies are in the middle of an uncertain period. Since March, the world suddenly looked very different for many enterpreneurs. New business models and emerging technologies are no longer playing the leading role, shadowed by the global impact of COVID-19 and the way in which the virus can be combated without having disastrous consequences for the wider economy. This has not been an easy task so far.
The coronacrisis is like no other crisis that we have faced in recent history. Still, all crises have something in common: they bring about uncertainty and highly turbulent environments within which we all need to navigate, including scaleups. This is not necessarily bad news. There is some promising evidence from the United Kingdom that scaleups were the first to recover after the Great Recession.
Outsourcing can be the key to growth and scalability for small businesses. Find out how contractors can help business owners minimize costs and maximize productivity. let’s say you own a small business and things are going great. You have an established customer base and your revenue stream is steady. All is well…or is it? As the business owner, you are spread thin. You are being pulled in too many directions.