Business · Fortune Technology
What I’ve learned is that the challenge of scale isn’t losing connection – it’s institutionalizing it
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In doing so, you protect the intimacy that built your company in the first place, while creating the foundation to grow it far beyond where it began.
Key facts
- What’s frugal at $10 million can become shortsighted at $100 million
- In the earlier days, spending ahead of revenue sometimes still felt like malpractice: spending $20,000 on a marketing campaign could feel reckless
- With that in mind, here are are four skills that the reporter had to unlearn to scale their business to where they are today – with seven global offices and more than 2,100 customers, including seven of the top 10
- With early investments and subsequent Series B, C, and D rounds that brought their total funding to $273 million, they were suddenly operating at a scale their family’s businesses never had to contemplate
Summary
Family-business instincts are invaluable — until they become limiting. But they do not necessarily teach you how to scale leadership beyond yourself, build for global markets, or invest aggressively ahead of returns. The reporter grew up in Switzerland surrounded by entrepreneurs: their grandfather in construction, their father in surveying, their uncles in packaging and construction. But as Scandit grew, the reporter realized that what had made them strong could also hold them back. What the reporter has come to learn is that if you’re leading a company beyond traditional business models ( that is, offering tangible products or in-person services that customers can directly experience), the mindset that can make a small-to-medium business entrepreneur successful can eventually hold you back. With that in mind, here are are four skills that the reporter had to unlearn to scale their business to where they are today – with seven global offices and more than 2,100 customers, including seven of the top 10 retailers worldwide.