Learn more about entrepreneurship with this collection
The importance of innovation
The power of perseverance
How to think big and take risks
When your business is turning over around a million, you might have ten or a dozen people on your team. You’re all super-aware of what’s going on. You will work nights to get a big order out or prepare for a big pitch. You read each other’s minds and jump in to help. To some degree, you are all capable of doing each other’s jobs in a pinch.
North of this first million, and it starts to become important that you have specialists, and sometimes specialist teams. That means new management and new processes. Sometimes you will find there is an inner circle (the original team) and everyone else.
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At this stage of growth, you begin to need more experienced staff to manage teams and bring in workflows and practices that they have seen work well elsewhere. In other words, you need more senior people.Except you can’t afford the really experienced ones yet.
Up to the fi...
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This is why you are stuck: You cannot grow because you are optimized for the level you are at.
The only way to do it reliably is to use a systematic approach and involve the people who are going to be the future of the business.
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You may simply have hit the demand limit for your product or service, and you may need to redesign it to suit a broader audience.
This requires a big change in the way you do business — hiring, training, management, project management, quality assurance, account management ...
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Reminding yourself and the team annually of the big picture is the best way to check your ongoing fit to a changing world.
As a constant learner, your reminder will generate new insights that allow you to prepare for the future, without waiting for a crisis. Be sure to fac...
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