How do you scale your startup from idea to a $10 billion company?
According to statistics, over 90 percent of all startups fail. That does not stop entrepreneurs and startup founders from trying. According to GEM national report, more than 100 million startups are launched every year, which translates to about three startups launched per second. So launching a successful startup can be a challenging task. The question is, how can you be one of the five to ten percent successful startups? That’s where learning from proven and successful leaders and entrepreneurs comes in. Startup founders can also learn from mistakes and past failures of failed startups. Startup books are another resources to learn from people that have walked through the startup journey, which brings us to a new book written by Peter S. Cohan, a Lecturer of Strategy at Babson College, a college that is known for its entrepreneurship program. Babson College is also the #1 leader in entrepreneurship for 25 consecutive years. The title of his book is called: “Scaling Your Startup: Mastering the Four Stages from Idea to $10 Billion.”
The book is not just for startup founders. Capital providers, customers, policymakers, and employees who intend to start their own company one day, will also benefit from the book. The book addresses on of the biggest challenges facing startup today — scaling. According to Cohan, “I wrote this book because there is nothing more important to startup success than a leader’s ability to scale it.” said Cohan. In the book, Cohan takes the reader and startup founder through the four stages of scaling: winning the first customers, building a scalable business model, sprinting to liquidity, and running the marathon.
Along this scaling journey, Cohan teaches you how to reinvent your company at different stages of growth to keep it scaling, presents a new model for scaling in which each key element is illustrated with successful and less successful cases and principles for capturing success and avoiding failure, and reviews other important topics such as developing a growth trajectory, raising capital, redefining the jobs to be done, and more, at each stage of a startup’s growth.
To oversee growth from an idea to a company with billions in revenue, Cohan writes that CEOs must reinvent many aspects of their company in anticipation of it reaching ever-higher revenues. In the end the read will learn:
- Know how your company can accelerate growth by not only tapping into new growth vectors, but also by adapting its organization, culture, and processes.
- Discover how founders keep their CEO positions by managing the organizational change needed to reach the next stage of scaling.
- Read case studies that illustrate how CEOs craft growth strategies, raise capital, create culture, build their organizations, set goals, and manage processes to achieve them.
- Discover principles of successful scaling through comparisons of successful and less successful companies.
- Use the Scaling Quotient to assess your startup’s readiness to grow.
- Follow a road map for turning your idea into a company that can change the world.
Cohan is the founding principal of Peter S. Cohan & Associates, a management consulting and venture capital firm. He has completed over 150 growth-strategy consulting projects for global technology companies and invested in seven startups–three of which were sold for over $2 billion. Peter has written 14 books and writes columns on entrepreneurship for Forbes, Inc, and The Worcester Telegram & Gazette. Prior to starting his firm, he worked as a case team leader for Harvard Business School professor Michael Porter’s consulting firm and taught at MIT, Stanford, and the University of Hong Kong. Peter earned an MBA from Wharton, did graduate work in computer science at MIT, and holds a BS in Electrical Engineering from Swarthmore College.