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This is the fourth edition of a bestselling book that addresses an issue critical to growing companies-evolving from the entrepreneurial start-up phase to the full-fledged professionally-managed firm. Too many enterprises simply lose momentum and fold after an meteoric beginning. This volume shows how a successful organization can make a smooth transition to professionalism without being encumbered by bureaucracy. This book provides a clear map for entrepreneurs to key areas such as planning, management development, organizational control, leadership, and corporate culture. The book includes a self-scoring "growing pains" assessment.
The past few decades have witnessed an explosion in entrepreneurship. Thousands of new companies have been created in areas a diverse as bioengineering to chocolate chip cookies. The question is: Why after a successful beginning does a successful start-up business lose momentum and fold? What secrets have other start-up companies discovered to help them navigate the rough waters of rapid growth and ultimately flourish?Since it was first published in 1986, Growing Pains has become a classic resource for understanding how start-ups can make the transition to become large, professionally-managed organizations that maintain the special spark that launched them. In the fourth edition of Growing Pains, authors Eric Flamholtz and Yvonne Randle have thoroughly revised and updated the book to include new ideas and concepts including information about strategic planning, Sarbanes-Oxley, family businesses, and overcoming growing pains, as well as new examples and cases of companies.Growing Pains shows that many entrepreneurs are unprepared for the rigorous organizational demands of rapid growth. As firms mature, the loose, informal management styles that drove them to success become inadequate. Original systems are strained, profits decline, and founders are ousted to make room for more experienced managers. Drawing on the experiences of Starbucks, Wal-Mart, PowerBar, eBay, Dell Computers, among other recent success stories, Flamholtz and Randle show entrepreneurs how to make the successful transition from humble start-up to professionally managed firm without sacrificing the unique spirit that inspired the company in the first place.The authors provide readers with a framework they can use to evaluate their firm's growth objectively, anticipate problems, pinpoint solutions, and plan strategies that will move their company toward desired goals. They outline the seven predictable stages of organizational growth and identify what must be accomplished in each stage to ensure the company's continued healthy development.Growing Pains provides the entrepreneur with many proven principles of professional management, providing guidance in such key areas as strategic planning, organizational structure, management development, organizational control, leadership, and corporate culture management. Growing Pains offers business founders the information they need to face the often complex challenges as they transform their companies into professionally managed firms.
The past few decades have witnessed an explosion in entrepreneurship. Thousands of new companies have been created in areas a diverse as bioengineering to chocolate chip cookies. The question is: Why after a successful beginning does a successful start-up business lose momentum and fold? What secrets have other start-up companies discovered to help them navigate the rough waters of rapid growth and ultimately flourish?Since it was first published in 1986, Growing Pains has become a classic resource for understanding how start-ups can make the transition to become large, professionally-managed organizations that maintain the special spark that launched them. In the fourth edition of Growing Pains, authors Eric Flamholtz and Yvonne Randle have thoroughly revised and updated the book to include new ideas and concepts including information about strategic planning, Sarbanes-Oxley, family businesses, and overcoming growing pains, as well as new examples and cases of companies.Growing Pains shows that many entrepreneurs are unprepared for the rigorous organizational demands of rapid growth. As firms mature, the loose, informal management styles that drove them to success become inadequate. Original systems are strained, profits decline, and founders are ousted to make room for more experienced managers. Drawing on the experiences of Starbucks, Wal-Mart, PowerBar, eBay, Dell Computers, among other recent success stories, Flamholtz and Randle show entrepreneurs how to make the successful transition from humble start-up to professionally managed firm without sacrificing the unique spirit that inspired the company in the first place.The authors provide readers with a framework they can use to evaluate their firm's growth objectively, anticipate problems, pinpoint solutions, and plan strategies that will move their company toward desired goals. They outline the seven predictable stages of organizational growth and identify what must be accomplished in each stage to ensure the company's continued healthy development.Growing Pains provides the entrepreneur with many proven principles of professional management, providing guidance in such key areas as strategic planning, organizational structure, management development, organizational control, leadership, and corporate culture management. Growing Pains offers business founders the information they need to face the often complex challenges as they transform their companies into professionally managed firms.