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Scaling Conversation

#Mondaythoughts: How do you solve a problem you don’t know you have?


You can't!


One of the biggest challenges facing young entrepreneurs is that often they've had no prior experience working inside a successful company. They thus never got to learn and understand fully the #Processes that drive such companies to success. Unless they fully appreciate this handicap and seek ways to mitigate the knowledge deficit, they find it difficult to fully #Scale the business.


In the United States and Israel [for instance], they have long realized that young entrepreneurs may have brilliant #Innovations but they may lack the skills of #Process [the toughest skill to acquire]. Venture Capitalists who fund startups create support structures including, training, mentors, and even provide skilled managers to help #Scale [MAKE THE BUSINESS BIGGER].


This was the problem that initially led to the sacking of Steve Jobs. Listen to the Podcasts on companies like Google, Facebook, eBay, Starbucks. You will see how entrepreneurs teamed up with skilled executives to help them scale their businesses.


If you are now running a business, and you fall into the category of those who started without prior institutional knowledge, this one is for you:


Pay real attention to it, because this may be the reason you are actually not able to grow very big, even though there is lots of demand for what you sell.


You must find the people to help you, but you must also humble yourself to study #Management, because it is not just a collection of clever, educated people. When you understand the science of organizational design and management for growth and profitability, only then are you on your way to building a multi-billion dollar organisation.


You need help... but how do you get organized?


We discovered that to get #Scaled: You get the right #People, even if it means giving them shares, and profit share, to get them on board.


These people must have experience in building #Process, particularly financial management. You can understand the power of #Organisation if you have worked before. But You might not understand it fully as a #StartUp because You did not build the organizations You had worked for!


"The delicate balance of mentoring someone is not creating them in your own image, but giving them an opportunity to create themselves". Steven Spielberg

 


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