flexibility of the GIG economy (short term contracts) which helps your cashflow by avoiding fixed expenses and gives you access to experts you otherwise couldn’t attract to your business on your own. Be careful not to spend all your time managing lots of contracts and look for flexible networks who manage their own performance. Attracting investors as a scale-up can be difficult as you’re too big for Ma & Pa or friends, too big for startup status and too little for the big institutions (>$10mill). A common issue is that firms chase every market to scale and spread their resources too thin. Scaling is about investing in things that will bring multiplier value and generate intensity in specific markets. Things like new partnerships to access a market, as well as customers and pilot projects.
PURPOSE, LEADERSHIP, INTEGRITY AND HEART And most of all, don’t stop believing in your purpose. As businesses grow it is easy to be busy and forget the “why” you started and what you believed in. Others will rely on your ability to provide leadership and structure so they can contribute in their roles. Nurture your staff and early customers as they are the true believers not only in why you do what you do, but also for the way you treat them. The people we remember most and are loyal to are those that had heart, courage and integrity along the journey.
Tracey Gosling For more than 25 years, Tracey has led large, complex transformation projects, turnaround sales portfolios, new market entry and been a strategic consultant across a huge range of industries. In her own business, Gosling Innovation Group, she helps businesses to scale up and commercialise their business both in Australia and across the globe. She’s your go-to when you want to achieve the impossible and her team will support yours to do more in strategy, sales, marketing and operations. It’s not surprising that Tracey loves to explore in her spare time and she also loves to go fishing.
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