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Growth Strategies for Start-Ups

Learning objectives and overview

Learning objectives

  • define what constitutes a growth firm
  • describe the problems of growth and growth strategies
  • describe growth mistakes and solutions


Overview

In this chapter we investigate possible strategies for the growth of start-up firms. First, we describe growth as a phenomenon and basic problem for such firms. In particular we analyze the problem from the viewpoint of new start-ups which plan from the outset to grow larger quickly. We then examine different growth strategies which firms can pursue. In the second part of the chapter we present the most well-known mistakes made by start-ups during the growth phase, and suggest ways to correct or - even better - avoid them. To conclude, we provide recommendations for how entrepreneurs can profit best from growth. In this chapter we refer most often to firms with "products" but the strategies and pitfalls reviewed here also apply to service companies.

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