Is your company in No Man’s Land?
Entrepreneurs have big ideas. This is no secret. Transforming your big idea into a growing business is a real challenge. This is why so few companies survive the startup phase and enter No Man’s Land, and why even fewer exit No Man’s Land whole, healthy, and thriving.
No Man’s Land is a pivotal stage in a business’s life cycle – we call it adolescence – when a growing company is too big to be small, but too small to be big. It’s a moment of transition when strategies that worked before work no more, and when owners and their teams are faced with challenges they have never faced previously. The result can be frustration, confusion, stagnation, loss of confidence, and even financial failure.
We have watched emerging growth companies of various sizes and in various industries enter No Man’s Land only to stumble over the same set of fundamental issues. Some have been unable to innovate their products to stay relevant to their customers. Others have not understood the importance of or been able to afford to develop the infrastructure needed to service increased demand. Many have failed to address the weaknesses of family, friends, and close confidants who made up their management team and inner circle.
It doesn’t have to be this way. Understanding the unique realities of No Man’s Land can help you make informed decisions about how, and even whether, to grow your business.
Our research shows that the challenges facing adolescent companies fall in 4 management areas. From this we’ve derived a set of navigational principles for managing a rapidly growing company:
- Understand the transition that will occur in your business’s Market.
- Address the changes that will be required to your Management.
- Test your economic Model to assure continued profitability as your business scales.
- Understand the practical requirements for attracting the Money you need to grow.