Everyone knows the typical entrepreneurial success story: A couple
of entrepreneurs have a great idea, work their tails off to
establish the business and, before long, they're set for life.
Right? Hardly. Turnaround artist Theo van Dijk knows two things:
First, young businesses that have survived the start-up years will
face periods of stagnation. Second, every venture at some point
reaches a complacent plateau, owners take their eyes off the ball,
and--wham!--a crisis charges through the door. Entrepreneurs can
avoid that fate by watching for signs of trouble and taking the
action steps van Dijk outlines in this book. And it's worth the
effort, van Dijk believes, because troubles and crises all have a
silver lining--they position the company for greater, long-term
growth. Entrepreneurs, predictably, become overconfident just when
they think they have it made. A crisis of leadership and/or
direction then occurs, and it usually has to do with mismanaged
growth. Suddenly, the company can't fill orders, or customers
complain about service and delivery. Or family bickering slows
momentum just when the company is poised to take off. Theo van Dijk
has seen it all, and he knows what the real problem is. During the
start-up years, everyone is focused on creating a product and
building a list of customers. Informality and flexibility are the
rule. But at some point, what used to work no longer does. Survival
is once again at stake and the odds are once again very much
against the survivors of the early entrepreneurial phase. It's
right at this point, van Dijk argues, that the structure of the
organization needs to become more formal and "built to last." He
shows many ways companies in crisis canovercome challenges by
changing the way they handle customers, putting new processes and
procedures in place, and managing employees in a more professional
manner. This work is painful, but it's necessary if the company is
to survive trouble and set a course for long-term growth. Besides
tips, tactics, prescriptions, and strategies, Managing Growth and
Handling Crises also features: *Appendices with tips on hiring
consultants, creating job descriptions for key employees, and
setting up systems to chart cash flow. *A full chapter devoted to
cases studies of successes and failures. The reward is great: The
companies that make this transition--from start-up to solid growth
company--are the true entrepreneurial success stories you read
about in the business press.
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