What does Walmart, Apple, Starbucks, and McDonald’s have in common? They all started small with a few employees and then grew. Can you imagine how Walmart grew from a small Five and Dime shop in Arkansas to a global empire with 11,000+ stores around the world and 2.3 million employees? Each stage of growth brought new challenges. Everything you need to know about growth before you can grow your business
Processes can burst due to growth. What was once a good idea now has a lot of bottlenecks. This is because more business owners have to make decisions. If you don’t make changes to your work process, the growth will be unsustainable and only make things worse. This book will teach you everything you need to know about how to avoid common mistakes that business owners make when growing their businesses. We are grateful that you have subscribed! All newsletter subscribers can download this (and many other ActiveCollab Project Management Guides). Download the Ebook We are unable to subscribe you at the moment. Please double-check your email address. If issue still persist, please let us know by sending an email to [email protected] Try Again All the big companies go through the same growth stages, regardless of the industry.Apple had the same problems going from 2 to 30 to 1,000 as did Ogilvy & Mather.If you want to grow your company, it’s useful to know how other companies grew and what challenges they faced. Knowing the typical growth path will help you avoid common mistakes that entrepreneurs make when growing your business.
One of the most respected management experts in the world, Ichak Adizes has created a method that describes the typical company’s lifecycle. He compares company growth with human growth, where a company grows, ages and eventually dies. There are 10 stages, each with its own set of challenges.
Every business begins with a vision, an idea. The founder of the business dreams up every possible thing and spends many nights crafting ambitious plans for the future. Everyone is excited about their idea and it’s all rosy. But there is one problem: What if it doesn’t work? What if it doesn’t work? This stage is known as courtship. It’s when the founder flirts with the idea and doesn’t take any concrete steps to start a business. “This stage is called courtship because the founder flirts with the idea of starting a business but has not taken any concrete steps.
A business is created when a founder takes on the risk. Once an idea is realized, it must start producing results. Every sale is a unique event. Everything is action-oriented. A business will do whatever it takes to make a sale. There are no processes and systems, and nobody pays attention to paperwork. Founders work 16 hours per day. Because the business requires constant attention, founders don’t have any time for personal life. Decisions are made in crisis. Every day brings new challenges, so best practices and rules are created. Long-term planning is not possible because of the high energy and low consistency. Everyone is trying to keep the business alive. Firefighting is a way of life. Every day brings new situations that require creativity and quick decisions.
