Scaling a tech business is like walking a burning tightrope. The faster you go, the more you risk falling off. But go too slowly and the rope will burn through.
Depending on their level of business maturity, the challenge for tech companies is slightly different – but the principle remains the same: grow or die. To be the next billion-dollar technology brand, CEOs need to figure out how to scale and normalise faster than their rivals – without compromising the DNA of the business.
Tech companies that have passed the first stage of rapid growth must constantly innovate and scale new products and divisions – otherwise their rivals will pass them by. More mature businesses must also make their operations more efficient as they recover from rapid expansion and seek to make their businesses more profitable. Early-stage start-ups must scale fast simply to survive – research suggests that just one in ten companies growing at 20% per annum survive more than a few years.
See the full report here.