Startup scaling is a choice, and how big you want to get is completely up to you.
If you want to maintain control over your company, then there are certain directions to take when raising money — or when deciding if you should raise money at all. Entrepreneurs have the unique opportunity to chase fame like the Richard Bransons or Steve Jobs of the world, or they can build sustainable businesses that provide for them and stay within their communities.
Three things you should ask yourself when thinking about startup scaling:
- Do you want to scale?
- How fast do you want to scale?
- How do you define your success?
On the Entrepreneurs United podcast, York IE CEO Kyle York discussed the principles of scaling for entrepreneurs and shared this story to illustrate his point that startup scaling is relative:
“When I was in college and my brother was 27, I was 22, we used to go to the bars, and I would always make him buy my drinks because I was in college and had no money. He had a job. He had a car and a house. But he told me, ‘Yeah, it’s all relative, Kyle. I have more money than you, but I have a mortgage, a car payment, and insurance.’ So I’ve always really thought of life, wealth, success, scale — they’re all relative.”
Watch the full episode for more entrepreneurial insight and to learn about what we’re up to at York IE: