Fast growing start-ups are the disruptors addressing customer needs in innovative ways. Such innovation can lead to significant and exponential growth in a short amount of time. Once on a growth trajectory, start-ups need to quickly adopt and adapt internally to keep up with customer demands and investor expectations.
At this critical stage, challenges related to people and organization are a key reason that can stall the growth of a start-up very quickly. For instance:
- The co-founders disagree on the strategy and stall progress for months as a result
- They are stuck with one product and are unable to adapt and adopt to a changing market
- They are unable to attract the right talent
- As they grow, they no longer know how to collaborate effectively
- Poor behavior by a small group of employees destroys their reputation
We see this over and over again. We don’t want to let it get to this point.
nepf for fast growing start-ups uses a People and Organization assessment specifically designed for fast growing start-ups, to quickly identify areas of risk that may derail growth quickly.
Similar to our assessment for established enterprises, we assess the most important barriers and enablers to thriving in a digital world:
- Leadership: How well aligned is the leadership team in its vision, and its execution of the vision? Is the Leadership effective in developing teams to scale and sustain accelerated growth? Is there a succession plan?
- Culture: What is the culture in what kind of behaviors does it manifest itself? What risks need to be addressed? Is it attracting the right talent? What is it like to work here? What are people who are leaving the company saying about it?
- Diversity: What are the diversity metrics of the workforce? What enablers are in place to foster diversity? What areas require focus?
- Talent: Are the right skills and capabilities in place? Is there a plan to find the required capabilities to support planned growth? Is there a culture of ongoing learning and innovation that supports the need to stay up to date with emerging and changing customer demands?
- Organization: How is the team organized? Is this suitable to enable the planned growth? How well is the company integrated in the relevant eco-systems and with partners?
- Governance: What processes are in place that support a company from moving from a small team to a larger company? How is risk managed (HR, financial, reputational etc) without stifling innovation?
These are just some of the questions we review to develop an effective action plan that sets a start-up up for sustained growth.
We also work with early stage start-ups to help set them up for growth with a comprehensive and practical Talent Strategy.
Contact us to discuss how our services can help you prepare for sustained growth.