As an entrepreneur, it’s critical to anticipate your business’ growth. It’s one of the most important business strategies on your path to success… to handle any measures of success, no matter the capacity.
Lauren Landry, Harvard Business School Online
6 ‘S’ Framework – when building or scaling a venture, focus on:
1- Staff – need a team of talented, highly motivated staff who believe in mission; set a high bar… can’t compromise on that first wave
2- Shared Values – represents company’s culture, and defines how team interacts, solves problems, & works together… separate cultural inputs from outputs; describe actions can take (inputs), to deliver on culture.
3- Structure – As company grows, so, should number of decision-makers… recruit seasoned leaders with specific skill sets or develop team members who can thrive in environments with more specialized roles.
4- Speed – Once have evidence of product-market fit, assess how fast you can, and should, grow.
5- Scope – consider expanding into new geographies or markets, or building additional products or services.
6- Series X – know what kind of financing is necessary to support growth & where can cut costs.