Patrick Jordens: Scaling up - Going Global - TSD17
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Tech Startup Day 2017
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Patrick Jordens: Scaling up - Going Global - TSD17
- 1. Why do some ambitious entrepreneurs fail to scale? patrick.jordens@vlaio.be
- 2. 0 1 2 3 54 6 7 8 9 10 0 100 k 200 300 500 k 1M 2M 3M 5M 10M 20M 30M 50M Group D GroupB High Potential SME Typology Years Turnover k€ et M€ Startup Incubation Area Startup Pivot Zone 1 ROI Trigger zone High Potential growth Trigger zone Hyper Growth Trigger Startup Pivot Zone 2
- 4. Idea in a box
- 5. No clue how to make money
- 6. Me, myself and I
- 8. No understanding of the need for working capital
- 9. Wrap-up: the hand of a scale-up entrepreneur top solution the way to profit mature organization user loyalty working capital
Editor's Notes
- How startups grow Pivots (product, value proposition, organization, …) for new stage of high growth
- luck & ambition > beyond building a business to support a certain lifestyle growth rarely occurs without ambition to scale >< Many early-stage ventures may lack the will and ambition to grow Basis conditions to be able to scale and get lucky study of 174 ambitious companies
- most startups are chasing an idea; their belief is only a guess at what customers want the founders are operating on a guess about an unknown opportunity with a potentially unknown solution because entrepreneurs believe so deeply in their idea, they jump into action by investing in creating a business, building a product, and then spending the money to try and sell it. =>avoid spending money scaling the business before you have really nailed what customers want and how to reach them
- Who is willing to pay? For what? How much? How frequently?
- 1) Growth requires an expanded skills set Build a team wit broad and complementary skills Get in touch with experienced mentors Engage a board of advice Build a network of peers 2) Early-stage ventures don’t have the resources to build their own infrastructures > Build collaborations with service providers, sales channel partners, suppliers, customers willing to provide market information 3) hands-on involvement and flexibility can be the enemy of growth > implement standardized and repeatable processes, with proper delegation
- 4) Identify core competencies in order to invest in focused growth: without knowing your competence it’s difficult to create strategies 5) identify the firm’s competitive strength in the eyes of customers, and how this strength is related to internal processes and knowledge> use these strengths to drive growth Make users return B2B: make their business processes depend on your offer
- Basis conditions to be able to scale and get lucky
- For companies based in the Flanders region Flemish government offers accelerator programs, business support and peer networks, together with subsidies and access to finance.