So much of the work to date on high growth companies has focused on what I would refer to as the hard issues of business – strategy, management, incubation, raising finance, selling. It has also extended into regional economics, proximity to universities, sectors and clusters. This all features as valuable contribution to the debate, but high growth companies are started by human beings, individuals on a mission to win and do something pretty special. Often high growth is planned and sometimes it just happens, being in the right place at the right time. My experience has been the businesses that grow rapidly and create value are founded by individuals with “a special mindset and personal mission”. In 2010, my second book Success Factor was published, it brought together observational research around what I think the ingredients of the entrepreneurs winning mindset looks like. Now we are extending the research and working with the Centre for Enterprise at MMU, looking at more fundamental issues such as:
How does a high growth entrepreneur think?
Why do they go one step further than those who remain more modest in their ambition?
Why do they keep going when the odds are stacked against them?
Why do they keep going when others give up?
Why do they take risks others wont and very often risk their kids inheritance?
Research shows that the majority of UK business stock stays small, the economy needs more mid-sized businesses in order to create the jobs needed. My opinion is we must under stand the DNA of the mindset of successful high growth entrepreneurs in more detail. If we can model how they behave then we can teach it. It’s the missing piece of the business support agenda! Attached to this blog is the growth staircase, it shows the transition points of growth. My mission is to understand how the mindset of an entrepreneur affects the successful breaking of the inevitable glass ceilings the journey presents.
Working with those individuals who have the right mindset will undoubtedly increase the odds of creating winning businesses.