Article source: Neha Sampat, Forbes
So, your company has survived the first few years, it has a healthy stable of customers and you’ve grown from managing a handful of team members to tens or even hundreds of employees. At this phase, most CEOs are thinking about the next phase of the company — transitioning from startup to scale-up mode.
There are a few indicators that help identify whether or not you’re ready to scale up:
Clearly Established Product-Market Fit
Popularized by Marc Andreessen, the term product-market fit can most simply be defined as “being in a good market with a product that can satisfy that market.” You can always identify product-market fit when it’s happening: Customers are acquiring the product as fast as you can innovate, revenue is quickly increasing and you’re hiring customer and sales support as fast as possible.
Repeatable Sales Model
Repeatability is a litmus test of whether or not your business is actually scalable. This means that your sales process...