Gary Vaynerchuk builds businesses. Fresh out of college he took his family wine business and grew it from a $3M to a $60M business in just five years. Now he runs VaynerMedia, one of the world’s hottest digital agencies. Along the way he became a prolific angel investor and venture capitalist, investing in companies like Facebook, Twitter, Tumblr, Uber, and Birchbox before eventually co-founding VaynerRSE, a $25M angel fund. Here’s is personal insight on how to grow a business from $1 Million to $100 Million.
Many of the skills you need as a leader of a scale-up are much different than the skills you needed as the leader of a startup. In his post, Brian Halligan, CEO of HubSpot lays out some of the skills and tools he needed to develop during the scale-up phase.
Article by Brian Halligan, CEO HubSpot
Start-ups that are lucky enough to get to the “build” phase have a new set of challenges. They’re not just strategy related. It’s about fixing all the organizational debt that has collected. Growing companies need to understand how to recognize and “refactor” organizational debt. Failing to refactor organizational debt can kill a growing company. Onboarding, training, culture, and compensation for employees at the “build” phase all require a fresh look and new approaches.
Article by Steve Blank on Forbes
There is a cognitive limit to the number of people with whom one can maintain stable social relationships. This limit has suggested to be 150 and is known as “Dunbar’s Number” named after the British anthropologist Robin Dunbar. Dunbar’s research implies that for a group to sustain itself at the size of 150 requires significantly more effort that must be spent on the core socialization to keep the group functioning. The message for start-ups is that many things that are easy and happen naturally when they are small change and require conscious effort once you start really growing. It’s the time when the leadership together with the whole team need to step up the culture and communication game.
This is session 18 of Technology-enabled Blitzscaling, a Stanford University class taught by Reid Hoffman, John Lilly, Allen Blue, and Chris Yeh. This class features Reed Hoffman interviewing Brian Chesky, the Co-Founder and CEO of Airbnb.