A Mature Business buds a Mature Leader
The startup and growth phase of your business take on two totally different management styles. Their is no magic pill when running your business. As the world changes you as a business leader must innovate and constantly adapt. Your company will grow, and as it does this, you need to change and think less like an entrepreneur and more like a CEO. Many Entrepreneurs resist structure, which isn’t necessarily a bad thing. Resisting structure is the key reason why so many Entrepreneurs succeed. They look at the world differently and begin slowly demolishing the status quo. The team they build is so adaptable that they can adjust to any economic landscape they encounter. What they lack in organization, is made up for in constant reinvention of their business model. After your startup proves itself and you stabilize, you enter the realm of strategic growth. This is the point where it’s absolutely necessary to systemize and instill professionalization in your company. First, growth companies need to focus on their specific target markets. Usually when running your startup your target market changes as you change your business model. But now as a growth company your target market should be solidified and now be given its full attention. Second as you become a growth company, their is a great need to change your leadership style. You need to delegate accountability, focus on long term growth, and develop structures and supporting processes. In your startup having limited structure allows your company to adapt, but once your company passes this certain threshold of growth, lack of structure can hinder your business. A large company needs to create clear accountability, add structure to define roles, and ensure the business can be scaled. We all know that structured organizations are bad at reinvention; but what they lack for in reinvention, they excel in growth. True sustainable growth is created by an organization with clear accountability and processes. CEOs need to be able to delegate responsibilities and monitor this growth. Remember you yourself, your business qualities, and your vision should develop in the same manner as your company grows. It’ll prove worthy in years to come.