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Stripe has been growing at breakneck speed for years, but according to COO Claire Hughes Johnson, the biggest challenge is integrating new people into such a complex organization. To grow quickly and conscientiously, she recommends startups press pause regularly and answer the following six questions: Have we documented our operating principles? You need to document core tenets describing the way you work. They should be clear and explicit enough that the people who consult them will make the same decisions a founder of your company would. What structure is going to help us achieve our goals? Do you want to run a flat organization? Have hierarchy? You need to decide what is going to work best. You also want to anticipate that the size and shape and number of people around any given table is bound to change. Who has been successful at our company so far? “Take the time to ask: Okay, what kind of people have we hired? Who’s doing really well? Who’s scaling at the same pace as the company? What are those people’s characteristics?” says Johnson. You want to hire more people who fit the mold of the people who not only have the right skills, but who are having a good time too.

Mostly the budding entrepreneurs do two mistakes at the start: Most budding entrepreneurs do not have a funded business and also haven’t raised a venture capital. In terms of the money they have only six months and between that, they have to achieve their goal. While they are dreaming of every possible aspect which can assist them in order to attain the goal. Soon the realization hits them and they run out of cash. Secondly, there are a few who are well funded and they don’t make the necessary efforts to generate the revenue. They are so used to the ideas that losing a huge amount in burn rate is completely fine because they have a funded company. Such people focus more on raising their next round instead of actually making the profitable business. Extra info can be read at Online marketing tips.

Given that you cannot live long without money and that your new business will not become profitable from the beginning, it is preferable to start in business while you still have a job and a stable source of income. This will give you a form of comfort and will help you focus on the vital aspects of business development and not just on providing some money for your own survival. Once the business starts to become profitable and you take on more and more time, you can resign. The existence of a support system both during the start-up period and during its development is very important. Try to find support within your family and consult with them when you want to make decisions and need advice. Ideally, you should find a mentor to offer you from his experience. To do this, you could register your business idea in one of the training and consulting programs implemented through European funds such as Entrepreneur 2.0.

You are the designer of your life. If there are parts of your life that do not fit well, you can make adjustments. Think of your life and career as clay on a potter’s wheel and you as the potter. Get a picture in your mind of what the masterpiece looks like and keep shaping toward that picture. – Bonnie Hagemann, Executive Development Associates Source: https://theentrepreneurresearch.com/.