I talk about "After the Startup Curve" [1], because the emotional roller-coaster has really only just begun. Take all of the ups and downs from the early months

I talk about "After the Startup Curve" [1], because the emotional roller-coaster has really only just begun. Take all of the ups and downs from the early months, and then multiply them by years in business and dozens (hundreds?) of team members. Most of the founders I work with haven't taken funding and don't have the high profile that brings on the haters, which can be advantageous in that it forces you to become a mid-Stage company doing what it needs to do: Ship Great Things. What do I see as the biggest Mid-Stage Pitfalls? 1) Not Knowing your Business Model Your Revenue is a formula - Value Proposition x Activity x Conversion. As businesses pivot, and as founders get distracted by all the other 'stuff' in business, their model can wander without them realising. Always be clear about your Value Proposition - why people are buying from you, and whether there's enough margin and volume for you. Traction [2] is one of the best books I've read regarding activity - keep asking yourself, 'What will move the needle for me?' 2) Celebrating too Fast Sustainable business growth, for most of us, isn't an 18 month billion-dollar acquisition. It's a constant investment, and it requires your ongoing attention even after it becomes self-sustaining. At some point you will want to reward yourself for your achievements - energetically, take from the business rather than continuing to give to it. But make that 'Payback' too big and too fast, and things can collapse on you literally overnight. (And often over a 2-4 week period, it's that fast.) This 2 minute video touches on that [3] 3. Needing to be 1 Step ahead of the business This manifests in a few ways over time. Early on, you're pitching to partners / channels / investors about what the business will be - so you're already one step ahead. But then you ship, you sell, you produce or deliver or whatever, and you become a cog in the business. You need to pull yourself out and be the CEO, be 1 step ahead. For smaller, lower-growth businesses this can be part of your role, some time each week or month. Over about 24 staff (and less than that if you have big growth plans) it's a full-time role. And that transition is hard, because it detaches you from the operations and the clients. As Jessica writes, you become a manager (and a leader and an entrepreneur). The business is going on a journey; so are you. And if you're not steering the ship, you'll sail right into a brick wall and find yourself seeking acquisition / funding with a giant "desperate" tattoo on your forehead. I talked about this journey 'After the Startup Curve', a little more on this recorded webinar, if you're super interested [4]. [1] http://www.shirlawscoaching.co.uk/shirlawsresources/2012/3/30/after-the-startup-curve.html http://www.shirlawscoaching.co.uk/shirlawsresources/2012/3/3... [2] http://tractionbook.com/ http://tractionbook.com/ [3] https://www.youtube.com/watch?v=9UN6XUD7Tfg https://www.youtube.com/watch?v=9UN6XUD7Tfg [4] http://www.youtube.com/watch?v=xLsmN83Z0aU http://www.youtube.com/watch?v=xLsmN83Z0aU