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From Start-Up to Scale-Up: Growth Stage Wisdom From Tommi Forsstrom, CPO at Workstep
Apr 18, 2023
Tommi Forsstrom, a product management executive, specializes in helping companies navigate the growth stage. He discusses the challenges of scaling a business, including killing features and transitioning to a standard payment system. He also shares insights on job hunting as a sales process and lessons from Stripe's growth stage success.
23:59
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Quick takeaways
- The growth stage of a company requires a transition to a more focused and strategic approach, identifying what's working and what's not and finding the tightest connection between the product and the market.
- Killing features in a product is a difficult skill in the growth stage, requiring diligence, research, and contingency plans to minimize negative impacts and provide off-ramps and transitions.
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Challenges of the Growth Stage
The growth stage of a company, typically from 10 million to 100 million in revenue, presents unique challenges. After hustling through the early stages, companies often face revenue growth stalling, increasing costs of mistakes, organizational dysfunction, and complicated technology. This stage requires a transition from instinct and intuition-based decision-making to a more focused and strategic approach. Identifying what's working and what's not is crucial, as well as finding the tightest connection between the product and the market. It becomes necessary to do more with less, streamline efforts, and seek leverage.
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