CEO and cofounder of Wistia. Read Chris Savage's full executive profile here.
For a decade, this word has been part of the tech startup lexicon coined by venture capitalist Aileen Lee to compare companies with billion-dollar valuations to a magical, mythical animal. But while many startups consider becoming a unicorn the ultimate goal, most unicorns today areto fulfill promises they made to investors, shareholders and employees because they moved too fast, damaging processes, culture, operations and more along the way.
Many young founders and entrepreneurs feel that, in order to grow, they need to continuously roll out new features, products or offerings and diversify how they do business. This is a constant pressure they feel from their respective industries. It seems so simple, but sometimes leaders can forget to take a quality over quantity approach. There are some key questions leaders should ask their teams to make sure the organization stays focused in this regard. These include:
While growth should still be a goal for startups, leaders should work to effectively balance growth with a positive employee and customer experience. Hiring and promoting the right talent is critical here.your team does the work matters. This includes managing growth to limit burnout within your organization and setting clear parameters to deliver products that meet customers’ expectations.
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