Five ways founders can build enduring organizations
Founders of successful startups must focus on building a robust organization and culture to scale up, according to a McKinsey analysis of almost 1,800 startups. It found 78% that had launched a successful product failed to scale it up. The report said creating an operational model that was both flexible and stable was key, while startups that allowed for multidirectional growth were 97% more likely to outperform peers. Other key factors included creating new ways to collaborate, getting talent right, fostering a distinctive culture and adapting the leadership model.
Founders of successful startups must focus on building a robust organization and culture to scale up, according to a McKinsey analysis of almost 1,800 startups. It found 78% that had launched a successful product failed to scale it up. The report said creating an operational model that was both flexible and stable was key, while startups that allowed for multidirectional growth were 97% more likely to outperform peers. Other key factors included creating new ways to collaborate, getting talent right, fostering a distinctive culture and adapting the leadership model.