Study outlines steps that growing startups must follow to succeed

From www.eurekalert.com

Credit: UT Dallas

Many entrepreneurs dream of leading a successful company. But launching a startup is only the first step.

By using more than three decades of experience as an entrepreneur and turnaround executive, Dr. Joseph Picken of the Naveen Jindal School of Management lays out a road map for the founding entrepreneur who seeks to retain the CEO position as a company gains market traction and begins a period of rapid growth.

Picken, a clinical professor of Organizations, Strategy and International Management and the founder of the Institute for Innovation and Entrepreneurship at UT Dallas, teaches entrepreneurship and leadership. The study was published in the January-February issue of Business Horizons.

The startup phase is extensively covered in the literature, Picken said. While a startup is best served by a loosely structured, flexible and informal organization, rapid growth and scaling requires structure, process and discipline. These tools and techniques of running an established business are commonly taught in business schools.

Picken wanted to focus his research on the gap between startup and scaling -- a period of transition. The study details the challenges faced by founders and the essential actions required for success.

To see the entire article click https://www.eurekalert.org/pub_releases/2017-02/uota-sos020717.php

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