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Business Growth & Management (Three Major Growth Patterns of Startups,…

- - - - This is where most startups fail. Those who don't close their doors move on to Growth Stage 2: Adolescence
      - "If your business depends on you, you don't own a business--you have a job. And it's the worst job in the world because you're working for a lunatic."
      - "The purpose of going into business is to get free of a job so you can create jobs for other people."
  - - - Someone who knows how to do what you are not very good at
    - - When things begin to fall apart, the tendency is to step in and do everything yourself again.
  - - - "A mature business knows how it got to be where it is, and what it must do to get where it wants to go."
      - "I realized that for IBM to become a great company it would have to act like a great company long before it ever became one."
      - Entrepreneurial Perspective: It's not the commodity or the work itself that is important. What's important is the business: how it looks, how it acts, how it does what it is intended to do.
        
        Entrepreneurial Model: Less to do with what's done in a business and more to do with how it's done. The way it's delivered is more important than the commodity.
        
        Starts w/a picture of the customer for whom the business is to be created--not with a picture of the business to be created
  - - - Return to infancy | One of the most consistent and predictable reactions. "Get small again"--go back to the way it was when the business first started and the owner did everything.
      - Going for Broke | Keeps growing faster and faster until it self-destructs. Focus is on the commodity the business makes rather than the business itself.
      - Adolescent Survival | Owner is committed to the success of the business. They are consumed by the business and the possibility of losing it. Owner puts extreme pressure on themselves to keep it going.
      - The key to moving to the next growth stage is to start all over again--but differently this time.