{"id":7542,"date":"2017-11-15T19:38:10","date_gmt":"2017-11-15T18:38:10","guid":{"rendered":"http:\/\/www.ie.edu\/exponential-learning\/blog\/?p=7542"},"modified":"2018-11-06T14:47:37","modified_gmt":"2018-11-06T13:47:37","slug":"startup-scale-south-summit","status":"publish","type":"post","link":"https:\/\/www.ie.edu\/lifelong-learning\/blog\/business\/startup-scale-south-summit\/","title":{"rendered":"Scaleup at South Summit"},"content":{"rendered":"

As part of the closing session on the IEXL Demo Stage<\/strong><\/a> at South Summit Madrid<\/b><\/a> on October 6th, 2017, the\u00a0Scaleup: How to successfully manage growth<\/strong><\/a>\u00a0Professor \u00a0Joe Haslam<\/b><\/a> and Assistant Professor Matthieu Heusch<\/b><\/a> took to the stage to share their insights about the HiOP. As we\u2019ve highlighted previously on the IEXL blog, while scale-ups haven\u2019t gotten the same recognition in academia as startups<\/b><\/a>, the conversation is shifting towards scale-ups because that’s where the movement towards sustaining enterprises comes to fruition.<\/p>\n

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What are the three things we need to know about scale-ups?<\/h4>\n

Joe gave us three vital points:<\/p>\n

    \n
  1. Startups are about finding out where you\u2019re strong. Scale-ups are about finding out where you\u2019re weak.<\/li>\n
  2. Countries don\u2019t actually need startups; they need scale-ups.<\/li>\n
  3. Don\u2019t talk to me about startups, talk to me about scale-ups<\/li>\n<\/ol>\n

     <\/p>\n

    Establishing this distinction is vital to showing the importance of scale-ups. Even the World Economic Forum<\/strong> highlighted research results corroborating statement number two. While the fodder talks about startups, instead<\/b><\/a> \u201cresearch (see\u00a0here<\/span><\/a>,\u00a0here<\/a>\u00a0and\u00a0here<\/a>) clearly shows that it is relatively high-growth firms \u2013 what we call \u201cscale ups\u201d \u2013 that are the real generators of jobs, taxes and wealth. Contrary to the myth, small businesses and start-ups only generate these benefits if they then go on to grow.\u201d<\/p>\n

     <\/p>\n

    Plus, the only way a business will get to scale is by focusing on points of weakness, rectifying them, and putting in the legwork to foster a business model to scale and translate those benefits for the employees, the industry, and on a macroeconomic level, the country\u2019s economy<\/strong>.<\/p>\n

     <\/p>\n

    So, now that we’ve established scale-ups are essential, what do they consist of?<\/h4>\n

    For marketing professionals, or business school graduates, you\u2019re in luck: just as with the 4 P\u2019s of marketing, it coincidentally turns out that there are the 4 P\u2019s of scale-ups. We emphasize, however, that this was not intended. They are:<\/p>\n