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Zenefits SELLS software that Automates health insurance, payroll, and other H.R. Functions for small businesses. Just a year after they were founded in 2013, they saw $1M in revenue, which reached $20M in late 2014. they projected $100M annual recurring revenue by late 2015 and that was the Catnip.
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The cult of Hypergrowth in Silicon Valley is not wrong either. It takes a different type of genius to build a startup that can balloon into 1600 employees in 3 years. Without a foundation, startups can fall apart quickly, especially with the Multigenerational workforce today. But not everyone is good at building culture, especially when the company has already grown to a substantial size. A lot of Millennials are going to leave their jobs next year,
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Leaders need to dig deep into Culture-Building and centre it around important values. Having no culture scares employees, and soon leaders lose control and autonomy. Unable to build a culture and have employees embrace it are businesses that lose out on engagement and growth.
The repercussions are big for Culture-Less companies.
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Millennials and Gen Y leaders need to stop complaining about how they are ‘unappreciative and ungrateful' about their rice bowls. If you’re into growth, the current generation of workers will get you going in no time. With the right culture and leadership, even the Craziest of growth Trajectories can be managed. If you’re a junior or Middle-Level manager, your job is to create a culture in your department.
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Unregulated hypergrowth can destroy a startup.
Loads of articles out there proclaim that hypergrowth can be a curse if mismanaged but the advice given is usually the same: have a plan, have a strategy, don’t manage too closely, and trust your team.
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