What You Need To Know About Hypergrowth

Sarah Hollenbeck

March 19, 2020

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You’ve seen it a hundred times before. A company, seemingly from out of nowhere, becomes an overnight sensation, garnering tons of organic press coverage and investors to boot. You watch what was once a small business boom into a massive, international organization in just a few months. This rapid expansion of success is known as hypergrowth, and as they companies that have experienced it will attest, it isn’t always easy.

While having a period of extreme growth in your business may sound like music to your ears, it can be detrimental to your business if you aren’t properly prepared for it. The processes that worked perfectly for your smaller operation are often unusable once your business grows past a certain size, leaving you to play catch up while still trying to produce numbers that will impress and keep your business afloat. To help businesses of all sizes better prepare themselves for success, the team at CleverTap has put together a helpful guide to hypergrowth. Here are the top things they say to watch out for when experiencing a period of massive success:

Make your business scalableandinvest in the newest tech, as new clients and potential employees will come in organically from hypergrowth press.
When investing in technology, make sure themetricsthe tech produceshelp drive growth. Some examples include: Lead Velocity Rate, Customer Acquistion Cost and Monthly Recurring Revenue.
Watch out forhypergrowth growing painssuch as sustaining the same level of growth over time and scaling your business to a much larger size properly.
Let your business stand for something by making yourmission statementclear to your employees as well as your customers.
Invest in company cultureto bring in new talent and increase retention rates within your current teams.

Hypergrowth is an exciting time for any business, and when done right, can be the launchpad for a Fortune 500 company in the making. But, when not properly prepared for, companies can crash and burn under the added pressure of the spotlight. To make sure you and your team are ready for whatever gets thrown at you next, check out CleverTap’s full infographic below for more tips.