How Do Founders Of Fast-Growing Companies Stay In Control?

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Anybody who has grown a startup from nothing to million-dollar enterprise knows the pitfalls. A rapidly growing company can be both a blessing and a curse. The good news is that your business is clearly viable and offering customers something that they genuinely want. The bad news is that growing a company from nothing can be an organizational nightmare that saps your energy.

The problem for young entrepreneurs is particularly acute. Sure, they’re buzzing with ideas and want to get their businesses off the ground. But they’re also utterly inexperienced when it comes to managing a team and doing a lot of company leg-work. Often, this means that startups can run away from their founders and take on a life of their own. So what can entrepreneurs do to stay in control of their enterprises? Let’s find out.

Stay On Top Of Rote Tasks

A lot of business activity isn’t up there in the creative ether. It’s down to earth, repetitive and predictable. Most entrepreneurs get the fact that things like payroll admin and finance are repetitive and predictable. But fewer actively try to make creative tasks, like marketing, repetitive too. Instead, they rely on spur-of-the-moment inspiration and sporadic efforts to get their company noticed. Having so many non-timetabled elements in your business makes it harder to manage your time. And it also means that you’re constantly getting sidetracked by apparently unpredictable tasks. The key here is to recognize that things like marketing can be automated. Apps like Hootsuite can manage social media posts and comments on your behalf. And so that means you can pin more of your business down into the process category.

Manage And Measure Employee Goals

One of the keys to a successful business is the ability to manage people. And in the past, all successful businesses have done this. Employees have been given clear job descriptions and goals.

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But with technology changing so fast, tracking and implementing goals has become easier than ever. Software firms, like Six Disciplines, have developed software that tracks employee productivity and tasks. Company managers can now get super granular in the way that they manage employee time. And they can clearly set the parameters of their plans from any device over the cloud. Employees themselves can also join the conversation. Platforms like these engage employees, increasing their overall motivation.

Hire People Who Are Savvier Than You

If they’re going to be successful, entrepreneurs need to know their limits. It’s unlikely you’re a master of everything in your business. And even if you are, there’s probably somebody out there who is better at some aspects. Top entrepreneurs know this. And so they appoint people who are smarter than they are. You want to find individuals who can effectively run each department while you focus on your overarching goals.

Don’t Forget The Details

Often, the success of startups lies in the details. Can they create a brand that captures the imagination? Is there website text beautifully presented, or could it do with some refining? Do they have a plan for targeting different groups through specific social media channels? As your team grows, it can be hard to keep track of all the details.