Do you know why most Startups fail to scale?
Taking the company to the next level is every founder's dream.
Everyone tries, but only a few succeed.
It is rarely about ambition and vision,
But about strategy and systems.
The top 5 reasons why most startups fail to scale their business are:
➡ TOO MANY TECHIES:
Most tech-based startups focus on having great techies, but the reality is that a successful startup should have people skilled in all areas like sales, marketing, HR, etc.
➡ BEING OBSESSED WITH THEIR INITIAL IDEA:
Your first idea was good to start, but as you scale, you need to iterate.
➡ TAKING IT AS A SIDE-HUSTLE:
Starting a venture as a side-hustle might be a good idea, but as you scale it, you need to put full-time efforts into it.
➡ FANCY SETUPS:
Who doesn't like big offices and luxury infrastructure? Though sometimes, all your money, resources and focus are needed to better your core product/service.
➡ LESS FOCUS ON TEAM BUILDING:
Having great Co-founders and CXOs is a good idea, but your team is much more than that. Every level of hiring should require equal importance and attention to make the best.
Starting a venture is different from running it,
And running a business is very different from scaling it.
One needs to learn and improve on every stage.
What are your thoughts on this?
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The new reality is that sales and marketing are continuously and increasingly integrated. Marketing needs to know more about sales, sales needs to know more about marketing, and we all need to know more about our customers.
