Growth Management Strategy for Entrepreneurs

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“Expect the unexpected because the unexpected should be expected” when operating in an entrepreneurial environment. An entrepreneur will have success when they have a proper growth management strategy set in place. Growth management when properly implemented helps alleviate pressures that early stage startups encounter.

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WARREN S. HERSCH 2013

Bob Sutton is an organizational behavior expert at Stanford’s School of Engineering. Sutton and Stanford Professor Huggy Rao are co-authors of the book, Scaling Up Excellence: Getting to More Without Settling for Less. I am currently reading the book and have had some issues putting it down.Sutton and Rao overarching claim they learned from many interviews with business leaders that have had success with rapid change and growth. In my previous blog I talked about when there is growth there is change.  Sutton and Rao made a strong argument that leaders who have been successful comes down to one thing, knowing when to replicate versus when to adopt best practices.

Entrepreneurs who are involved in startups will eventually enter a state of rapid growth. It is critical for the key players to have a mindset that is flexible and prepared for structural changes and that the people involved are working in a direction to successfully get through the specific phase of growth. Scalability can vary in approach from company to company because it involves employees, industry, and corporate culture.

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Barry Loyd 2015

Growth management in a business environment is a set of systems that a company has to ensure that it evolves to meet growing demands. Matthew Swyers said in a blog that “funny little things happen on the road to success. Often the prosperity of the business can outpace the ability of the business to maintain that success.”

Take a minute to reflect on your growth management strategy for your entrepreneurial venture. Do you have one? If so, good job! If not, shame on you because unexpected growth can creep up behind you like a black panther ready to pounce on you.

Be prepared and be ready as much as you can. Preparing for growth is a continuous process developed over time organically. When your start-up is small, maybe around 5 or 6 entrepreneurs, is the perfect time to start developing processes that work for your business’s culture.

My challenge to you is to look at your company’s growth strategy and see how you modify an existing one it may have or develop a new one if your one does not exist. Let me know how it works out by leaving a comment!

 

 

Please post your results on my blog post!

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