A Scale-up is defined as a young company experiencing strong growth; however the increase in business calls for an increase in employees, stakeholders and interactions. No more working in silos! You are no longer alone at your workplace when it comes to successfully carrying out your young company’s projects.
To ensure you springboard your growth in good conditions and without suffering from resulting organisational difficulties, don't hesitate to start talking about processes! Even though the term, related to large groups can scare and discourage a few people...
The price of growth
Growth is not without its risks. While this growth is a sign of success, it also entails more work on talent management, requires adapting governance and managing its working capital requirement.*
What does talent management refer to?
Teams are growing, and you need to recruit quickly and effectively, taking care to protect your company culture. Once these new people have been integrated, it will no longer be possible to operate as you did during your time as a start-up. You’ll need to implement an integration process so that these new recruits can integrate, understand their scope of work and the overall organisation of the company so as to quickly become effective.
What does BFR management refer to?
Your needs change, money is streaming in, but it is also streaming out. You need to understand the new requirements of your business to be able to anticipate the inflow and outflow of money and without getting out of your depth.
What does adapting governance refer to?
Growing well involves knowing who to surround yourself with. Professionalise your board of directors, call upon experts and experienced managers who will guide you through this new phase of development.
You will also need to adapt your organisation and management team in order to preserve your company culture and activate various drivers of growth.
What are these three risks due to, these swords of Damocles hanging over the scale-up:
- My business lacks dynamism? Decisions are not made quickly enough and it’s difficult to adjust or readjust in this new context.
- My business lacks organisational structure? It isn’t clear how resources are distributed, how decisions are made, who is working on what, how they are going about it...
Stop worrying; formalising your processes can help you solve these three problems, as what you are lacking first and foremost is a solid structure for proceeding smoothly.
What does formalising one's processes refer to?
“Formalising business processes? Yuck!” Don’t worry, even if this term would send shivers down the spine of any Silicon Valley dreamer, we're talking about the backbone of your business here. Ok, let me explain:
What's the purpose ?
First and foremost, formalising means understanding how a company works (who does what and how) and determining the areas of weakness (which need improvement).
How is this done ?
Communicate with your teams to understand interactions, the various steps and tasks carried out in order to get a clear idea of your processes before they are modelled.
For modelling, you can use a formalisation tool, such as BPMN, or you can seek advice from an expert and digitise the execution of your processes on Bubblz.
And what if we started with a recruitment process?
Is there anybody who hasn't missed a perfect candidate due to an overflow or loss of CVs? That’s what happens when the recruitment industrialisation phase is not formalised or not properly formalised and supported.
Do you need to save time because recruitment is not the core of your business? Safeguard the execution of this process? Centralise candidate information in the same place? Easily communicate and notify candidates? Know where the various applications are?
Begin by formalising your process:
- Identify the interactions between those involved: between candidates and the person in charge of recruitment, the management team that will have to prepare for the candidate’s arrival, the team that will welcome the candidate...
- Identify the tasks that could potentially be automated: sending emails, collecting information, scheduling appointments, analysing activity...
- Identify the various progression scenarios: successful candidate, rejected candidate, archiving or deleting candidate information...
Once this process has been formalised, you will have everything you need to begin digitising the execution of the latter.
Digitising to simplify execution
Browse the various processes available in our process library. You can tailor them according to your needs and working methods. Do you want to create your own tool without using the library? Create your own work flow by following the instructions and digitisation tips.
The new practices will enhance the flow of information between the various teams and management, and will give managers the opportunity to visualise concrete results in order to make the right decisions in real time.
They will also help employees to focus on tasks with high added value by automating and eliminating time-consuming tasks such as sending repetitive emails, searching for data, filling in Excel files, etc.
Once structured, the Scale-up is not only dynamic, it also acquires a certain stability, which will help it to become an agile company (see the article on agility). And being agile means being dynamic and flexible.
“The big aren't eating the small, the fast are eating the slow. ” Chris Laping
Are you ready to formalise your processes and eat up an elephant?
Les entreprises en hyper croissance [Companies in hyper growth], consulting firm KPMG
The Agility Factor: Building Adaptable Organizations for Superior Performance. Thomas Williams, Christopher Worley & Edward Lawler III
The fast is eating the slow: An interview with former Red Robin's CIO Chris Laping. One2Team.