Every Business has a growth timeline and it witnesses many ups and downs as well as achieved milestones on its growth trajectory, but one of the most important time period in its growth timeline is the time when business expands- "scaling up business". Expanding and taking business to the next stage is a volatile time period unless perceived and planned beforehand. Its the time when many individuals at middle management level gets involved in a business which was originally started by one or few enthusiastic entrepreneur with few helping hands at bottom level of business.
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In business or corporate arena it is said that "one should hire smarter people " but at times in course of business expansion, business owners feel little threatened by the pool of smart middle management which they just hired, it becomes little difficult for the owner to handle sudden growth in number of employee. Founder entrepreneurs can't do every work on their own, they should learn to develop trust in its employees and should focus on most important aspect of business development, finance and macro management.
Entrepreneur should develop a company culture from the get go to encourage and develop trust of employees in the vision of company keeping inevitable future expansion of the business.
Business expansion demands thoughtful consideration of acquisition, merger and partnerships. Learn what precautions need to be taken while forming partnership with friends and close associates in the next article - http://fromthediaryofmentor.blogspot.in/2012/02/what-precautions-needed-to-form.html
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