SVC2UK 2013 tips for scaling up your business

1. “Scaling up our innovative companies is probably the single most important lever we have in terms of GDP Growth in the UK economy.” Sherry Coutu SVC2UK

2. SVC2UK supports companies to scale up. This presentation provides the context behind this focus and 12 observations drawn from the annual SVC2UK summit in 2013 where iconic entrepreneurs from US and Europe shared their experiences from scaling successful businesses themselves. So first the significance of entrepreneurial companies to our economy….

3. 40 Kauffman report reported that the average founder age of the 500 fastest growing companies in the US was 40. This is also the percentage of the US GDP that is generated by companies that did not exist 30 years ago.

4. 25 % 25 % of the growth in GDP came from technology companies in 2012

5. 100 % 100% of new net jobs in the US come from companies less than 5 years old (Kauffman Foundation 2009)

6. 6% The vital 6 percent report (Nesta report) showed that 6% of all SMEs produced 54% of jobs in the UK over the past 7 years

7. 54% 54% of all jobs are created by these 6% of firms.

8. 1,300,000 2,400,000 1.3m jobs of the total 2.4m jobs were created by angels / VCs… (in the last 7 years)

9. 2.6 jobs created for Every 1 job lost Internet matters: The Net’s sweeping impact on growth, jobs, and prosperity Mckinsey May 2011

10. £ 100 billion 7.2 % In 2009, the Internet contributed an estimated £ 100 billion, or 7.2 % of GDP to the UK economy… BCG Connected Kingdom Report, Oct 2010

11. This share is larger than the UK’s Construction, Transportation or Utilities industries

12. 12 Lessons from SVC2UK 2013

13. Focus Relentlessly “Experimentation is key, but don’t try to run lots of experiments in parallel” SVC2UK 2013 mentor

14. Beware of Premature Scaling “Think like a startup even as you scale up” Ketan Kothari, Edmodo

15. Learn Leadership for Scale “Building a startup is exciting, but scaling up means being a greater distance from what brought you in” Stanley Yang, Neurosky

16. Choose a big enough problem “Founders need an authentic desire to solve a real problem” Mohsen Moazami, Columbus Nova Technology Partners

17. Embed yourself in the Right Network “Building an exceptional network is the prime task of an aspiring scale-up founder” Renaud Visage, Eventbrite

18. Recruit people who have done it before “You must hire people who have done it before. There is no substitute” Megan Smith, Google X

19. Hire for tomorrow, Not for today “You will outgrow your people.” Renaud Visage, Eventbrite

20. Embrace Diversity “You need a diverse team – not three MBAs, of course, but probably not three engineers either!” Michael Baum, FOUNDER.org

21. Nurture Company Culture “Culture is what remains in the room when the founder leaves it” SVC2UK 2013 Mentor

22. Build systems that scale “Planning for scale is about anticipating where you’ll be in 12 months and building the organisation you’ll need then now. Everything needs to be systematised!” Mike Shepherd, GrowthPoint Technology Partners

23. Test product / market fit “You can test all your key assumptions in a purely analogue fashion, without any tech. You can test, learn, iterate, repeat hyper-locally even if the problem is global. The key is repeatability” Julie Hanna, Kiva

24. Take the right kind of money…at the right time “Just as there has to be chemistry between founders there must be chemistry between founders and investors.” Ash Patel, Morado Capital Ventures

Notes de l'éditeur

Kauffman report reported that the average age of the 500 fastest growing companies in the US was 40. This is also the percentage of the US GDP that is generated by companies that did not exist 30 years ago….
25 % of the growth in GDP came from tech companies last year
100% of new net jobs in the US came from companies less than 5 years old (kauffman Foundation 2009)
6% - the vital 6 percent report showed that 6% of all SMEs produced 54% of jobs in the UK over the past 7 years
54% of all jobs are created by these 6% of firms (see NESTA, vital 6% research)
That is 1.3mm jobs of the total 2.4m jobs were created by angels / vcs…. (in the last 7 years)
Internet matters: The Net’s sweeping impact on growth, jobs, and prosperity, Mckinsey May 2011
In 2009, the Internet contributed an estimated £ 100 billion, or 7.2 % of GDP to the UK economy…. BCG Connected Kingdom Report, Oct 2010
In 2009, the Internet contributed an estimated £ 100 billion, or 7.2 % of GDP to the UK economy…. BCG Connected Kingdom Report, Oct 2010
Focus relentlessly as a founder and as a company ; distractions cause startups to stagnate
Beware premature scaling, which can be even more dangerous to a startup than moving too slowly
which is very different from the kind of leadership needed at the earliest stages of a company’s life
to give yourself room to grow
To benefit from advice and connections of people who will understand the challenges you will face
Because many of the problems encountered while scaling are common across organisations
Because in a high growth organisation your needs will change extremely rapidly
To broaden the number of problem-solving approaches within your team
As you grow in order to avoid losing a sense of mission and identity
From technical infrastructure and data systems to organisational processes
Test continuously to stay close to the customer – new techniques are needed when you can no longer meet all of your customers individually
And avoid making fundraising an end in itself

SVC2UK 2013 tips for scaling up your business

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SVC2UK 2013 tips for scaling up your business

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