Are you ready to scale your company to the next level?
When is your company truly ready to enter or exit the market? That is the real question. When is the right moment to do something groundbreaking?
A company goes through similar ‘life’ phases to a human. Just like a child is born and it grows up, your business is founded and it grows steadily. As this kid goes through puberty and studies to get ahead of others, your company goes through ups and downs, but you; the founder, never give up to learn the pathway to success. As our exemplar meets someone and marries that given person, your company meets an investor or a strategist who is willing to experience a long, unforgettable journey with you. Perhaps our exemplar makes kids or gets a divorce before they leave their inheritance behind. Similarly, your company could diversify its branches; it could expand or, in a worse case scenario, the number of employees in the firm could shrink. In the end, your company exits the market through an acquisition or by its listing its shares on the stock exchange. This is how comparable the phases of a human life are to the phases of a company. Every individual and every firm are unique. Everybody thinks that it’s them who’ll make the grand difference in this world – hopefully for the better. What matters is if you’re just living for the sake of it or if you’re reaping the fruits of every day.
Growing your business
When it comes to business, founders are naturally aiming to scale their companies fast. However, in most cases, this is a long process. Sometimes, you might be lucky despite setting up a company for the first time ever. In the later stages of the business ‘life,’ you’ll hopefully meet useful stakeholders to bond with (e.g. suppliers, customers and investors). What matters is that you remain to be yourself and that you don’t get distracted from steering the wheel the original direction. Follow the initial reason why your business was founded. Being different will be rewarded by getting an investor interested. This investor would only like to get on board if your company ‘looks good’ and if it didn’t cause too much trouble in the ‘puberty stage’ (while starting and scaling up). You may have tried various wild ideas, but what matters is whether it was all done for the overall bigger cause: to establish a solid business and to scale it up.
Shortest way to success
The difference between a human life and the ‘life’ of a business is that the latter could grow in a more structured way. When setting up a business, you plan, work, act, adjust your plans, etc. If you surround yourself with a good team of business developers and growth accelerators, you may find the shortest way to success. This means that there are several roadmaps to success. If you choose the right way and manage the journey to success in a structured way (through reporting on your progress, solid administration, solid sales plan, thought-out intellectual property strategy), an exit (sale of the company) would be easier to carry out once a buyer comes along.
Make success a way of living
If you just do your thing and think about the above-mentioned journey to success only at the moment when you really need to, then you are already falling behind the others. So our advice would be to develop your business so that it can grow and make this a way of living. We, ECFG and MK Subsidy, will happily help you with that!
Hans Bloemen (Managing Director/Partner at ECFG): firstname.lastname@example.org
Marketa Svobodova (Content Manager/Partnerships at MK Subsidy): email@example.com