Thoughts and ideas from Transforming Your Tomorrows, LLC
Leveraging growth strategies for a complete transformation
April 1, 2019 at 12:00 AM
by Jo Ellen Newman, MBA, Founder of Transforming Your Tomorrows, LLC

As a certified life and business coach, I focus on helping the entrepreneur and owners of small to mid-size businesses reach their short and long-term company goals. Having worked in the medical field and gaining a great deal of experience in business myself, I’ve had the unique opportunity to develop a global perspective when it comes to coaching. I use this approach to leverage the power of growth strategies for startups.

I recently read an article in called “Think Like a Startup, Scale Like an Enterprise: Balancing the Best of Both Worlds”, Alex Goryachev lists several descriptors that come to mind when thinking of a startup: lean and innovative, progressive and trendy, agile and engaged. When compared to a classic Fortune 500 company who has been around for many years, a startup can sure seem more exciting. So, what’s the major difference between the smaller startup and larger enterprise? One word, pace.

As Goryachev points out, the “change in today’s market is so fast and volatile that companies of all sizes risk their very survival unless they become more disruptive and more innovative.” Startups and enterprises alike are at risk with statistics showing 90 percent of all startups failing and 40 percent of Fortune 500 companies might not remain in existence within 10 years.

When coming up with growth strategies for startups, I help company owners imagine a new future by rethinking their current strategies. It’s all about reaching the desired end result and doing so involves planning and development. Through business coaching and mindmapping, we are able to come up with the right leadership solutions to bring that business to the next level.

Innovation in a startup is treated just like a team sport where there are players from every department who are considered just as important as their ideas. This allows for less rigid thinking and a valuable exchange of creative ideas.

The take away from the article was very powerful. Goryachev urges business owners to think like a startup whether they’ve been in business for one year or five years. He asserts that all employees regardless of their job level or function should be encouraged to present innovative ideas and provided the requisite support for successful implementation.

Innovation is one of the essential growth strategies for startups because it helps business owners define and showcase what sets them apart from all the competition. When this mindset continues to exist well beyond the startup process, a momentum is created that constantly helps the company to grow.

The biggest change comes from varying perspectives and the team members who share them. Their collective backgrounds and experiences are what help shape the innovations of today that make the differences of tomorrow.

Want to learn more about growth strategies for startups and find out how you can take your business to the next level?  

Want to learn more about growth strategies for startups and find out how you can take your business to the next level? Click this link to schedule your complimentary and let me show you how to shape the future of your business.