What's The Difference Between Start-up And Scale-up? (+Stages of The Entrepreneur Journey)

Episode of: Scale Up Your Business Podcast

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Feb 28, 201915m
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What's The Difference Between Start-up And Scale-up? (+Stages of The Entrepreneur Journey)
Feb 28 '1915m
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Creating a start-up is just the beginning. The next steps in the journey are what all entrepreneurs should ready for, especially if you hit the No Man’s Land, where there will be struggles and challenges for your company. It’s up to you now how you could continue the momentum and survive every little thing of it. 

In this episode of the Scale Up Your Business Podcast, Nick lays out great strategies on how you can defeat and learn from the challenges of start-ups to be a scale-up. Discover also how you can turn yourself into an owner-investor instead of an owner-operator of your company. Pure optimism, confidence and motivation can go a long way but there’s a lot yet to learn on how to turn your start-up into a ‘proper’ business where you could actually benefit big time. 

KEY TAKEAWAYS 

  • Nick started his business when he was 18 while he was still living in Australia. He hasn’t got much money on his name and was finishing a degree at that time. So, he started working part-time in a gym where he met a guy who’d inspired him to start his own personal training studio. Nick was honest to admit that when he started it, he didn’t know anything about running a business. 
  • When you start a business, you’re full of confidence and optimism, but when challenges come in, make sure you and your vision don’t get swayed by them.  
  • The Scale-up Dimension. When you start seeing results and create momentum, that’s when you start thinking of building your ‘proper’ business. A proper business generates profit, lets you live the lifestyle you want, and leverages some of its operations. 
  • There are two types of entrepreneurs: one is very good at start-ups and the other one is good at scale-ups. 

BEST MOMENTS 

  • People who start businesses and have all the passion and the energy that comes from that are not always the best people to scale them up.” 
  • “When someone has a problem that needs to be solved, they’re passionate about that problem and they have the absolute conviction to believe that they can add value and do something which can make a difference around that.” 
  • “If you are very clear in your vision on why you started your business, your values, and all those sorts of things, you can actually navigate that area [No Man’s Land] quite well.” 

VALUABLE RESOURCES 

ABOUT THE HOST 

Nick Bradley is an international business leader, entrepreneur, and investor. He is the Co-Founder and Director of The Fielding Group, which helps businesses scale up especially at the middle of competitive and unpredictable markets. He is also the Chief Executive Officer in Adviser Plus, a leading UK provider of Human Capital Management solutions. 

Through the Scale Up Your Business Podcast, Nick will show you how to start your entrepreneur journey, how to develop the right mindset, how to raise funding, how to leverage to enjoy your life, and many more! 

“In business and in life - be grateful, be brave, have faith, show up”. 

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