Our goal is to provide the BAM Community with great content and resources. Each year we do a summer roundup of articles which have stood out in the past 6 months.
Below is our second “Staff Pick” for January to June 2019.
Please enjoy and thanks for following!
by Mike Baer
In all entrepreneurial circles, the hot topic is “How to scale the business.” How do we take our company from me (and possibly a few others) to many? How do we add more employees? Customers? Lines of business? Locations? Profits?
Scaling in General
“Scale or Die” is the cry that comes from many startups and from virtually all investors. Growth is an evidence of life and health. Healthy companies grow. But it’s not easy, especially in a business as mission endeavor.
Where will you find the funding to expand? Bootstrapping or “cash-flowing” expansion is extremely difficult and tediously slow.
What about managers sufficiently skilled and knowledgeable to lead a larger business who also share your faith and focus? Where will you find them? How will you pay them? Who will move to your location? Do you use locals? Expats?
And, most importantly, what about your own experience or lack thereof? If you’ve never done it before, it’s daunting and difficult to say the least! The overwhelming majority of startups fail to scale. Read more