Despite the economic and political uncertainty are significant, even before the global pandemic, the number of technology start-ups that appear in the UK continues to grow. In particular, , which as a sector, last year saw £ 37.4 billion poured by global Digital Marketing Agencies Southampton investors (nearly double the investment of 2018). And only back in March we heard the British Chancellor of the Exchequer, Rishi sunak, announced a “major review” of this booming sector will see how the government can support the growth and competitiveness among the best start-ups. While we can not predict the Government to re-order priorities in the “new normal” as they grapple with the economic shock waves from Covid-19, the demand for digital solutions has accelerated.
But while every entrepreneur behind these companies have the appetite to take them through to the next stage of their growth, we still see 9 of 10 start-ups fail. They may have already achieved a lot and have proven some success stories but scaling up is a different ball game and by no means an easy process. This is a distinct and significant phase of growth of the company and one that brings a lot of obstacles and challenges along the way as well as hiring the right team, customer acquisition and the biggest killer in the 74% – early scale. Mainly because investors tend to adopt a more cautious since we emerged from the pandemic.
While there is a proliferation of advice and support for start-up, scale-up requires greater access to guidance to address the unique challenges through this growth phase.
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Companies such organizations Whitecap Consulting assistance with its growth strategy and business director Julian Wells recommends the initial state take part in the accelerator program.
“They can provide structure, support and challenge for start-ups. A survey last year of 428 Beis start-ups that have participated in an incubator or accelerator found that most considered the program has been a significant or important to their success. The start-up funding is felt instantly become the most useful support they receive as part of the program. This was followed by access to office space, lab space and technical equipment. “
In the mode of growth, it is important that you do not try and do everything yourself.
You may have been used to multi-tasking as part of a team that is very small in start-up mode, but when you are looking for scale, this will prove to be impossible. To be honest with what you’re good at and learn the art of effective delegation. It’s one of the hardest things business owners should do – you hand over the reins of the “baby” and entrust your reputation on others but you also learn to collaborate and communicate better and learn from others might throw up different perspectives and opportunities for the future future of your business.
Gavin Powell, Secretary-General of the emphasized the importance of resilience.
“As the scale of your company become more efficient and will also become more dependent on automation, systems and processes. You need to make it flexible and robust to provide you with the necessary resilience. Otherwise, your scaling will only add to the fragility and risk and is likely to fall apart at the first hint of interference. “
Focus on matching tasks to skillset and hiring talent for special areas such as Accounting and Marketing. Embracing diversity of talent and ideas can help scale start-ups outside the market and the initial business plan. It is also important that the business founder to stop and look from the outside in and through the eyes of your Digital Marketing Company in Southampton customers. When you scale being, everyone is very busy, but they could be busy doing things inefficiently. This customer-centric approach will help organizations stay ahead of the market and responsive to change and evolve.
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