5 Steps to Scaling your Startup – An open letter to entrepreneurs, Published on 2019-06-24 16:06
Dear Entrepreneur:
Starting a business is easy. It requires courage. It requires an idea. It requires passion and commitment. You are one of the very few in this world who has taken that critical step.
You are even willing to make sacrifices and commit to hard work. Your next goal is to make your all this count. To make the business successful. To do that you have to scale and scale sustainably.
How would you do that?
This model brings science to the art of business scaling. The more detailed you are with your plan using this framework the better you are set to reach your goal.
Why do some companies achieve things that ultimately exceed our expectations and defy all of our assumptions for what’s possible?
- Discovery: In this phase, you would Identify, define and prioritize opportunities that will deliver revenue/ growth. You may list all revenue/ growth model.
- Concept Development: In this concept development phase you would define the user, stakeholder partner value proposition and architect execution and revenue/ growth models for each revenue/ growth model.
- Proof of Concept: This is a very critical phase where you would validate the value proposition, revenue/ growth, and technical feasibility at a single location for each selected revenue/ growth model.
- Pilot; In this phase, you would test the complete model in multiple locations to validate scalability, for every scalable and sustainable model from POC. Many startups fail here.
- Scaled Deployment is all about focussed field execution to achieve stated goals and objectives. Here it is critical to achieving maximum revenue/ growth with minimum or administration.
Mainstream: This is no more a phase. At this stage, you have had a full adoption across all markets and integrate into core execution engines. This is business as usual and in all probability, you will have other competitors in the market. It is all about efficiency. But more importantly, this is the time to get focus to newer innovations and incubations.
Having said this, the idea of each of these models is suggestive. If a specific product or idea or a revenue model fails in any of the phases to achieve its desired objectives- you as founders and management team would need to have a real strong discussion on to do a Go-NoGo decision.
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Would you startup be one of those unicorns? Check it out! Take the plunge head-on with ZMOT.ly Smart Scaling Framework.
At Futureshift, our ZMOT.ly framework helps you to achieve your goal with a structured way to scale your business. Towards that end, our clients love this ZMOT.ly Smart Scaling Framework, they held them to look at incubation to mainstream under a very predictable model.
Hope this helps. Please feel free to reach out to zmotly@futureshift.com.sg if you need our help.
