Creating a successful startup is not easy, but, just because your startup is doing well, does not mean that you are done building your business. If you’re ready to transition from startup to company, it’s time to look at typical company...
Creating a successful startup is not easy, but, just because your startup is doing well, does not mean that you are done building your business. If you’re ready to transition from startup to company, it’s time to look at typical company growth stages in order to help prepare your employees for expansion.
Employee Contribution to Company Growth
Employee contribution to company growth plays a major role in the future success of your company. This is why it is important to keep your employees abreast of company changes in developments as you are moving from a startup to a big company.
Preparing your employees allows them to grow with the company and helps ensure that they are able to meet the new demands and that the transition is smooth and stress-free.
Company Growth Stages in a Nutshell
In general, there are several company growth phases or milestones that a company will achieve during its transition from startup to a big company.
Formal Organization: As the company grows, a need for formal organization and formalized roles will develop. Employees who once fulfilled multiple roles due to budget shortages will be able to specialize. In general, the transition from startup to a company will require a sales VP, an operations VP, a CFO, and an HR manager. However, the specific roles and who fills them depends on the company’s growth plan.
The Need for Policies: As the number of employees increases, policies will need to be established both within the company and for customers. Internal policies help ensure that everyone is treated fairly and held accountable- which is harder to do on an individual basis when there are more individuals involved. Meanwhile, your customer-care policies will help establish consistency in service while setting clear guidelines for your customer support team.
Development of a Dedicated Customer Support Team: As a startup grows into a company, a dedicated customer support team will be required. This will require a senior customer support executive who can be either hired on or promoted from within.
Innovator Retention: As the company develops, it is important to ensure that individuals who played a major role in the startup and product creation stay onboard. For owners, this may mean creating contracts or promotions for said individuals and to continue to reward creative effort. Meanwhile, these employees should know that they are valuable to the company and that they should be rewarded, not punished, for continued innovation.
How to Prepare Your Employees
Your employee preparation may depend on several factors. Before you start, check your company growth strategy if you have one already or create one if you don’t have one yet. Once you have a plan that allows you to transition from startup to big company, you can then focus on your company growth strategy. For instance, you may want to invest in new software to handle the workload as well as training for your managers to ensure that they are able to handle a larger employee load.
If you are ready to tackle your company growth stages, Solution Mentors is here to help with innovative software to help you transition from startup to a big company.
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