We often get asked – What is the ScaleUp stage of growth? How do you explain it to someone who has never experienced it?
In short, ScaleUp is (click below to listen).
The reason there is a dearth of resources on this highly complex yet super rewarding phase is that there is absolutely zero time when you’re in it. It’s a phase in which your adrenaline is rushing and you’re trying to figure out what you’re going to do next year, growing as a company, growing your career, growing your departments all while the market is growing (or else you wouldn’t be in ScaleUp).
In order to help we’ve decided to break it into the three phases of ScaleUp –
- ScaleUp Early Stage
- ScaleUp Mid-Stage
- ScaleUp Later Stage
Early Stage is the closest to startup and has an initial product-market fit.
It’s important to know where you’re going and what your company needs to look like at Scale but prevent yourself from going there. Make small tweaks that your company can handle as most of your internal operations are manual.
The important thing to do here is to ramp sales. At this point, it’s critical to sell to those within your product-market fit or it’s going to slow your growth rate.
In this stage it’s important to optimize technology and understand COGS.
Focus on the Topline.
In Mid stage things are starting to get rockier as you start to reach market saturation and you’re starting to build your second product.
Your launch strategy for the second product is absolutely critical in this stage. You’re also trying to optimize your internal operations and optimize COGS. It’s important to expand your product and portfolio package.
At this stage you can start to balance and automate internal operations and processes.
Focus on the Topline and Profit.
In Late Stage you can see that strategic exit is within reach and typically pre-IPO.
It’s time to expand your product and portfolio suite, leverage and optimize technology. At this stage COGS and internal operations are completely optimized. Focus on the Profit.