3 Things That All Successful Companies Do The important roles of purpose, customer focus, and exceeding customer needs in scaling a business and growing company culture.
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Riding the arc of success in a growing company's early days feels like a wild adventure, complete with triple-digit growth, big customer wins, and charging toward profitability at rocket speed. Accelerated growth speeds up as companies go through equity events. According to Stock Analysis, "There have been 5,093 IPOs between 2000 and 2021. The most were in the year 2020, with a total of 480 IPOs." 2021 looks to be a year to set records, with around 400 companies already completing the IPO process this year by the end of March. Of course, there are many paths to revenue growth, but the IPO process serves as a bellwether for economic growth opportunities.
No matter how an organization funds its growth, as the company matures, there are several factors that determine if the business can scale and keep its customer focus. It seems intuitive, but many businesses can fall into the trap of losing focus on those who fuel revenue, cultural drive, and future growth — their customers.