Build + Grow
Whenever we reach an inflection point at BP3 and need to evaluate the right next steps, I’m always grateful for the ability to read about all those who have come before us and their experiences. It is upon their examples and thoughts that we can build our own mental models to evaluate our business.
Another such post is this one from Steve Blank:
Unfortunately as you hire more people, the casual, informal “do what it takes” culture, which worked so well at less than 40 people, becomes chaotic and less effective. Now the organization needs to put in place culture, training, product management, processes and procedures, (i.e. writing the HR manual, sales comp plan, expense reports, branding guidelines, etc.)
This Build phase typically begin with around 40 employees and will last to at least 175 and in some cases up to 700 employees. Venture-backed startups will often have a Series C or D or later rounds during this phase.
We’re familiar with this phase… We’re in the middle of it! And the next phase is “Grow”. Maybe there’s no hard line between the two. But we’re sure enjoying this build phase. There’s nothing better than pulling together a great team and coaching them as they operate at a high level.