Once You’ve Funded a Startup, How Can You Help It Succeed?
So, you’ve got a new startup in your portfolio, and it shows a lot of promise. You’re focusing on helping it grow as fast and as smart as possible. You know that startup growth is never an exact science, but there are some strategies you can start with. What are your options?
Time to Grow Up
Both before and after the first rounds of funding, startup growth is all about the hustle. Everyone at the company has to be willing to go outside of their core responsibilities to help the company progress. It’s a time where the team has to all be on the same page and dedicate themselves to moving the whole enterprise forward.
“During the past year I estimate that 5% of my time has been dedicated to strategy, 5% has been spent on sales calls and 90% has been focused on everything else. What is in that 90%? Packing boxes for 14,000 watches that we have sold; exchanging over 200 emails per day with customers; working with my team on re-designing our watch not once, but twice; sending watches to non-profits to help with fundraising; remembering to eat while working! With rare exception every day at a start-up requires “fighting fires” – handling issues that have immediate deadlines. To us, “Hustle” does not just mean working really hard (though that is critical). “Hustling” means being industrious and figuring out clever ways to solve problems so that we make our customers happy and improve how we work.”
Schwartz also pointed out another key aspect of the work at a startup that is important to remember:
“It is very easy to get lost in the day-to-day grind, and focus only on short-term issues. Everyone feels a sense of accomplishment when they tick off boxes on a to-do list. These are important, but follow-through means that no matter how busy or stressful work may get, you never lose sight of the big projects under your control, and the company goals.”
Startup Growth Through Powerful Scaling Solutions
That focus on goals, combined with the willingness to do whatever it takes to move forward, is what makes startup growth possible, and puts it on a path to success.
Moving forward means finding solutions to the company’s most pressing problems. How do you boost sales, or provide better and more consistent customer service? Boomsourcing provides a suite of solutions tailored to the scaling needs of private equity portfolio companies. When you need to increase the number of leads pouring into the top of your sales funnel, Boomsourcing SDRs can handle all of your cold calls for you. That takes a lot of pressure off of the in-house sales team, and lets them focus on closing more deals, faster. If your sales success means you then need to scale your customer support operations, we provide platforms and agents that provide perfectly accurate information in a polite and helpful way on every single call. We also handle bookkeeping and other back-office processes.
Contact Boomsourcing today to make these solutions a key strategy across your portfolio of scalable startups!