【To scale your startup, first scale yourself】
As a startup founder, are you constantly experiencing any of the following?
-Bottlenecking
-Reluctance to delegate
-High staff turnover
-Low morale
-Lack of focus
These things are natural consequences of fast-growing startups. But if these issues continue to persist, they may signal a deeper problem at play--and more often than not it has to do with you and how you're allocating your time.
Startups are synonymous with raising a child. They start off as helpless little seedlings that cannot survive without your constant attention and nourishment. The moment you neglect your startup, it will die.
Just like a parent, co-founders are tasked with doing anything and everything in the early stages, from building a prototype to customer service to setting up a legal entity to sales & marketing to even cleaning the toilets--all in an effort to discover whether or not you're truly solving a problem in the market, or so called achieving product-market fit.
Overtime--and granted you've created something that people want and need--your startup will mature to a point where it can stand on its own two feet. Whether or not it grows into a thriving and impactful member of society is solely dependent on your ability to scale yourself.
At some point, parents need to loosen their roles, adjust their expectations and education of their children as they grow into responsible adults. Founders also need to eventually transition from building a startup to building a company, and evolve from founder to CEO.
Here are a few tips to help you embark on that transition:
-Figure out what you are uniquely positioned to do and delegate, automate, or as Reid Hoffman puts its "amplify" everything else.
-Get experienced advisors on board (could be internally), who can point out your blindspots and illuminate more efficient pathways.
-Rule of 6: Roughly speaking, people can only effectively manage 6 people at any given time; use this concept to structure your org chart.
-Self-reflect! Probably the most important one. Carve out a small chunk of time every week to take a step back and do a post-game analysis on yourself--what went wrong, what went right, how can you improve.
At the simplest level, scaling yourself entails moving into increasingly higher and higher level work to the point where the majority of your time will likely be spent on decision making, and less so execution.
You WILL make mistakes, lots of them. But be sure to extract wisdom from each and every one. Just remember, as a founder, you are your startup's sole arbiter of success; not macroeconomics, not technology, not competition--just you.
-Jun Wakabayashi
Analyst, AppWorks
AppWorks Accelerator now boasts over 1,100 founders in its alumni base, all across Greater Southeast Asia--all of whom have gone through their own journeys of growth and self-development. If you're doing a startup and interested into joining the region's strongest founder community, applications for AW#21 are now live on our website: https://bit.ly/3cyNwt9
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