Week 4 - MBA 6101 - Ascend Your Start-Up

As the founder of a new company, one can feel lost at times as to what direction they should be moving. Success comes initially to reward you for starting an idea and making it tangible enough that others see interest in using it. However, once that initial success has disappeared, it becomes difficult to identify what the goal is and where the company is going. Yu shares her experience of reaching the mountain’s base camp and how she had lost the understanding as to how she had gotten here and where she was to go. (Yu, pg. 79-80, 2021) In a similar fashion, a company can behave similarly as it is trying to understand its next level purpose and what direction is to go. 

When the company reaches this stage, it becomes a great time to understand the value of the customer and begin to engage them in a different manner. Scaling the company based on demand the change in customers can help direct the company as to where it should go. An increase in customers shows that the company has established solid ground in that market and can begin to invest into other products or services. However, if the company is having trouble, it may be beneficial to step back and assess what did not appeal to the customer and what can change. 

Reference:

Yu, H. (2021). Ascend your start-up: Conquer the 5 disconnects to accelerate growth. Made For Success Publishing.