Owning a startup is not an easy endeavor. There is always a need to scale to optimize profit, exceed shareholders' expectations, and be more competitive. Brian Rothenberg, a partner at Defy.vc, once noted that with scaling, one could gauge the quality of leadership, the effectiveness of operation, and the growth rate of a budding company or startup. So, every founder must master the necessary art of scaling their startup to ensure growth.
First, you should avoid being an overworked CEO. You should learn to delegate responsibilities to other members of your team. When you allow your employees to do what they are hired to do and access their “zones of genius,” they tend to own the work and go out of their way to ensure they deliver the best product or services to their target customers.
After employing the best hands you can get, you must create specific and realistic timelines for achieving certain feats and crushing specific goals. This is important because the employees will have a sense of urgency which propels them to be more dedicated to the project. However, it is important to set realistic timelines so employees are not under undue pressure to deliver.
Subsequently, you should ensure that you and your employees know the company’s scaling vision. This means that everyone in the company will become relevant in the grand scheme of things, especially concerning the company’s objectives and purpose. As a founder, it is important to note that your company’s success is hinged on your ability to clearly outline its objectives and goals to everyone, including your employees.
Furthermore, you should note that your startup is directed to meet the needs of a particular market or demography. So, it is important that whatever services or goods you are selling provide actual value and duly meet their needs. If you can ensure this as a founder, most of your startup scaling problem will be resolved.
Similarly, while paying attention to the market is important, you should also ensure that your startup’s operations and leadership structure are well set up. Ensure a consistent, systematic, and measurable mode of operation for all tasks within the company. You should also pay attention to transparency and accountability while ensuring that you and your employees meet your company’s goals and objectives.
While it is important that you source investment externally, you should also be familiar with and ready to scale your business without external investment. In the early stages of your startup, you should be willing to bootstrap and not put all your eggs in the basket of external investment. Bootstrapping in the early stages of your startup might save you from the pressure of yielding big returns and meeting difficult KPIs investors might require.
