Congratulations, you’ve done it! You started with an idea, launched a company, and now your product or service is selling well. It’s time to grow. But as you know, growing a business isn’t simple.
“The media plays up the overnight successes like Instagram,” says Jay Turo, co-founder and CEO of Growthink, “but for the vast majority of entrepreneurs, it is a long, slow, and gradually upward growth process.”
From an HR perspective, in particular, there’s a lot of work to be done, and it’s up to you. I recently connected with Turo and Dan Roitman, Founder and CEO of Stroll–two entrepreneurs who have successfully grown their businesses from scratch–and posed the question: What does it take to grow a company from startup to small business?
Here are five must-haves they identified to take your business to the next level.
1. A Culture that Supports Your Purpose
You need to decide what kind of culture you want your company to have. That depends, somewhat, on what you want your company to look like down the road. Start with the end in mind. For many entrepreneurs on the cusp of growth, it’s still go-go-go (and likely will be for a while). But stop working for a second and reflect on what aspirations you have for your company. According to Roitman, “Your long-term game plan should be supported by a culture that will take you there.”
For Stroll, the goal was to be a high-growth company. “We defined what values people need to embrace to make sure our employees are accelerating the business.”