Growth is good, but without properly managing your company's growth you could be setting it up for disaster. Use these steps to control your "hypergrowth."
1. Build a project team.
If you want to change these three S's, you can’t do it alone. You should assemble a team of your key direct reports, and you might want to include representatives of your leading customers and key suppliers as well.
2. Interview start-up CEOs and experts.
The next step your project team should pursue is to pick the most burning issues your start-up faces when it comes to managing growth.
For example: Do you have the right organizational structure, or is it slowing down decision making? Are you measuring and rewarding people on the right variables? Are you hiring people who fit well, or are you suffering from high turnover?
3. Analyze research findings and develop a diagnostic tool.
One you’ve conducted the interviews, you should analyze the results and use the insights to generate ideas for how you can improve your start-up’s structure, systems, and shared values.
4. Compare diagnostic results to best practices and identify improvement opportunities.
Once you’ve completed those interviews, you can assess where your start-up’s structure, systems, and shared values are strong and where there are opportunities to improve them. You should benchmark your start-up against the best practices that you identified through the interviews with other start-up CEOs and experts.
5. Develop and implement improvements.
Finally, you should work with your project team to develop ideas for how to improve your start-up’s structure, systems, and shared values. Here, you should use the ideas from best practices to brainstorm many new ways to make your start-up’s structure, systems, and shared values more effective.
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