When an entrepreneur secures the funding for their Start Up, typically they start their business with themselves and begin to scale up their Start Up team as the business takes off.
The entrepreneur becomes a line manager and at this stage may well experience difficulties in leading and managing team and individual performance.
To mitigate these risks, the entrepreneur must learn how to get the very best out of their Start Up team and the individuals within it. This is where team and individual leadership and management skills become essential.
As the business begins to Scale Up, invariably the business team scales up with the growth of the business. The organisational structure builds out, and one team soon becomes several. The entrepreneur will move from leading a team to leading team managers.
As this stage, the entrepreneur requires a shift in priorities as they must balance strategic growth with ensuring operational management and team performance.
The enlightened entrepreneur will recognise that this critical Scale Up phase requires management team upskilling as the business gears itself up for further expansion and growth.
If the entrepreneur fails to institute development support to bridge the necessary skill gaps, they will limit the growth potential of the business and you will observe one or more of the following:
- Micromanagement
- Misalignment
- Dysfunctional teams
- Stifled innovation
- Stagnating performance
- High staff turnover
The enlightened entrepreneur will understand this and will ensure that they, and their management teams, are fully equipped and skilled for the Scale Up journey ahead.
Are you moving from Start Up to Scale Up? Do you recognise these symptoms or indeed others from your experience? Reach out for a no obligation call today to discuss how we can support your top team: enquiry@hewlettrand.com
