There comes a time where you will need to find the optimum balance between bootstrapping and company growth. You need to be able to increase the size of your team without decreasing your bottom line.
Category: Growth & Strategy
There are plenty of businesses being started across Australia every day. Most make it to revenue; many generate decent revenue; but an overwhelming majority hit significant growth pains. They get caught in the ‘Growth Trap’.
We knew from early on that to build a great business we had to bring aboard the best people. But talented people are often more attracted to big companies with big salary packages. So the challenge wasn’t “How to get more money to pay staff”. Heck, in those days we could barely pay ourselves. The challenge was “How can we create something here, that they’ll never get over there?”
Right from the outset, we knew we wanted to take a different approach to other consultancies. Consulting firms can be a black box, with consultants wanting to hold to as much of their intellectual property and insights as they can so you need to hire them time and again. But at Chamonix, we took a distinct approach.
Following a conversation with an entrepreneur about investment activity in Portugal, I learned how important it is for entrepreneurs to share valuable information, despite competition.
With more start-ups coming to market quicker in Australia and many emerging growth tech companies flourishing, one of the big challenges for our technology entrepreneurs is to increase the conversion of local companies that close a VC Series A funding round.
Most start-ups will never raise an institutional investment round. This isn’t necessarily a bad thing. If you can reach profitability and maintain great growth rates without raising capital, do it! Why dilute yourself unnecessarily?
Try these 5 startup hacks that we use across our publications to make sure our traffic is flowing everyday the way it is supposed to be.