Modern Start-Ups

It is really an interesting time for  entrepreneurship and your business, isn’t it? Sales are rolling in, and your customers are happy. Are you willing to do what it takes to expand? Do you have what it takes–in your head and in your gut–to enter a serious growth phase?
Before you decide to enter a high-growth phase, here are five indications that you are ready to make such a move:
1. Migrating from a startup to a fast-growing company requires passion, dedication, and near total immersion. You must deal with pressure and incredible anxiety, take on enormous responsibility, and still manage to balance other aspects of your life―like family and health.
2. Of course, revenue alone doesn’t make a functioning business. Revenue and profits are two very different things. Is your business model structured in a way that you’re not just making a profit today but can continue to be profitable?
If you are already profitable or can see a rational and clear path to scalable and sustainable profitability, you may actually be on the road to growth.
3. Growth only happens when all needed “human elements” are in place. This means people who have either worked in a large and thriving business or understand the technologies needed are the right employees to fuel sustainable, scalable growth.
4. When businesses grow, cash can be consumed by any number of incremental expenses including higher rent, utilities, payroll, and inventory costs. If you are planning to grow, then you must have far more cash at your fingertips than you need to just make payroll. You need to have cash available to put back into the business.
5. You have your processes in place. But as you grow, there must be processes and systems in place to deal with volume spikes and dips.IMG_0550

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