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05-11-2017 - Modwenna Rees-Mogg - 0 comments
10 things entrepreneurs should know about attractive scale-ups
  1. Scale-ups are not the same as high growth firms.  The difference is not just about scale of ambition, though scale-ups should be more ambitious than the "normal" high-growth company.  They also have to have sustainable growth and have credibility and resilience.
  2. Revenue should more than double each year. 
  3. Scale-ups need to be expanding globally not just domestically.
  4. The make up of the management team is desperately important to investors backing scale-ups. They must "know what they are doing" suggesting that scale-ups need team members with real experience to support the founder who may be more the "inventor" than the business manager.  But drive, passion, resilience, ambition, adaptability, vision, strategic mindset and confidence are vital. 
  5. Scale-ups have operational discipline so they can cope with their growth. They also access whatever help they can get, including using government agencies such as UKTI to support their ambitions. 
  6. Scale-ups are sales focused not focused on just raising funding to create the perfect product. The best scale-ups plan in e.g. expansion into China from day one. 
  7. By no means all scale-ups have third party equity backing from VCs or angels but would do well to consider what it might do for them.
  8. Good scale-ups have good levels of capital efficiency and productivity.  
  9. Great scale-ups have excellent communications skills (especially with investors). 
  10. Being based in the UK is an advantage, even for investors based overseas. 

 

 

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