- With some businesses and investments expanding rapidly, a Harvard lecturer and venture capitalist touts the benefits of a slower approach
- Even when under pressure to proceed rapidly, businesses can benefit by pursuing efficiency and deliberate, sustainable growth
- Strategies include evaluating your team, brainstorming solutions, and addressing non-financial “debt”
Summary by Dirk Langeveld
With many businesses experiencing rapid growth and venture capitalists ramping up their investments in early-stage companies, a Harvard lecturer is encouraging entrepreneurs to avoid proceeding too quickly when building their business.
Jeffrey Busgang, a senior lecturer in the Entrepreneurial Management Unit at the Harvard Business School and the co-founder and general partner at an early-stage venture capital firm, says companies can easily feel pressured to proceed at a rapid clip under such conditions. He cautions that pursuing better efficiency and more deliberate, sustainable growth can be a better approach.
Busgang said benefits of a slower approach include:
- Entrepreneurs can reevaluate their teams and make necessary adjustments, including adding new staff, reassigning roles, or providing coaching and training to existing employees
- The ability to brainstorm more innovative approaches for finding new markets and other business strategies
- Addressing non-financial “debt” associated with rapid growth, including sacrificing company culture, taking shortcuts for expediency, or focusing on short-term needs without looking to long-term goals
- Building stronger relationships with your team, customers, and others
