Tips every startup can use
FAST GROWTH IS A GOOD PROBLEM, BUT WITHOUT GUIDELINES AND STRUCTURE, CAN BE A DETRIMENT TO YOUR NEW STARTUP. HERE’S HOW ONE FOUNDER GREW HIS COMPANY, AND WHAT HE LEARNED IN THE PROCESS.
Over the past eight months our company has tripled in size, expanding from 25 employees to 125. During this time we transitioned from working in the basement of my home to a 17,000-square-foot office in Seattle, outgrowing two other temporary spaces in the process.
Growing so rapidly in a short of period time isn’t easy, especially for a young startup, but it was a great experience and learning process. Here are six things we learned during this time of fast growth:
1. YOU ARE PROBABLY OVERLOOKING PARTS OF YOUR BUDGET
It’s crucial to sweat the details and have a very clear understanding of the cash flow curve for your new office. Without a plan, spending can quickly get out of hand.
Take into account both the “people” and the “property” costs surrounding a big move. You must have a clear employee target number and growth timeline. Factor in the costs required to get newcomers hired and up to speed as well.
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