Questions Every Entrepreneur Must Ask about Growth
The Times They Are A-Changin – Bob Dylan
For each new start-up there are key moments for opportunities of growth and changes. To sustain success entreprenurs face tough questions about shifting momentums, making major changes and letting go of product, partners and people. The inability or unwillingness to change can land new businesses in the statistics of businesses failing in the first 5 years.
Here are a few of the questions that you might be faced with growth
This may be one of the toughest changes that you might have to face. When is it the right time to change the people? Not just individually, but as a whole. Founders often start out with friends and family and overlap the roles of these people. When does it become more personal than professional? Sometimes there needs to be a clearer focus on who will grow or go.
Are you making your company mission tangible that can be recreated and sustained? Culture at times can provide the internal glue of a company. As the your company grows, the informalities of the culture must also be documented, memorialized and passed on to new people. Values, stories and rituals provide a souce of identity that makes people feel the same, in pursuite of the same mission while everything around them changes.
Outcomes and Impact.
What results are being produced, for whom and is it enough? Providing some ROI in the market at the same time looking at possible growth indicators.
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