Business Growth Entrepreneurship Business Startups
adriane schwager
adriane schwager

@aschwags3

14 tweets 9 reads Nov 29, 2022
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We just crossed $6,000,000 in ARR.
100% bootstrapped. Only 5 US full-time employees. 21 months after launch.
Here are my top 11 learnings on growing a startup πŸ‘‡πŸ§΅
1/ Making a decision is hard but better than no decision
A "bad" decision is painful but outweighs no decision every time. Learn from it and move on.
With time, you will get better at making "good" decisions.
2/ Ups and downs don't go away
Even after growing and seeing success, it's still a nerve-wracking rollercoaster.
The great things aren't as great as they seem and the bad things are usually not as bad. Keep calm and move forward.
3/ Leverage a remote global workforce
Our US team of 5 is supported by 20+ people in the Philippines.
We reached $3M in ARR before our first full-time US hire.
I want my US team to focus on strategic tasks, while our PH team takes care of operation and execution.
4/ When you are growing quickly, everything will start breaking down. Regularly.
Every 6 months or so, you'll have to recreate most of your company. Adjust systems and processes. Find new tools.
This isn't really avoidable, so fix it and keep moving.
5/ Competiton is great
It shows that you have picked a good market.
Many businesses have outright copied GrowthAssistant. But we don't obsess over them. We obsess over the customer.
This is how we win.
6/ Clear bias to action
Planning is okay.
But getting started is more important.
Most planning ahead of action is just speculation. Only doing it will help you understand it.
Plus analysis post-action can be driven by real data.
7/ Invest in training and development. Hard skills and soft skills. For yourself and for your team.
This provides high leverage and high ROI.
8/ Never be the bottleneck
Too often, I slowed us down because I had to make the final decision.
Hire the right people, give them the support they need and trust them.
It's scary but necessary to grow.
9/ Trust your gut when it comes to people
Without fail, whenever I hired someone with doubts it backfired.
It's tempting to hire someone to fill an urgent need. But the little voice telling you "it's not a great fit" is very often right.
10/ Fire fast
Related to the above, if at any point you think in your head, "this person is not good, we should let them go," then you are probably right.
Try to do it as soon as possible but compassionately.
11/ You will make lots of mistakes.
Lots.
Forgive yourself and keep on chugging. Try not to make the same mistake twice and you should be fine.
How we will reach $10M ARR?
Every company would benefit from GrowthAssistant.
The value and ROI we provide makes it a simple business decision for most. That's the secret.
PS: Jump on our waitlist for GrowthAssistant now - your team will thank you 328mv6ufm5h.typeform.com
328mv6ufm5h.typeform.com

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@aschwags3
I’ll be sharing lessons about leadership, global remote teams, and entrepreneurship I learned from growing
@growthassistant to $6MM and beyond

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