How fast should you grow?
From the dawn of the dot-com boom in 1995, all the way up through 2020, Silicon Valley had an answer that inspired many others: hyper-growth. That’s what made headlines, hypnotized investors, and drove a winner-take-all mentality. You want to be Uber, not Lyft; Google, not Bing. Reid Hoffman, a founder of LinkedIn, wrote a popular book titled, Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies.
But over the years, it’s become clear that “blitzscalling” can lead to irresponsible behaviors. A lot of founders believe they should scale first and then worry about fixing the damage they cause. But by then, their business model is baked and it’s too hard to change. All they can do is tinker at the fringes and hope they don’t wind up bankrupt (or defend themselves in front of Congress or prosecutors). As a venture capitalist, I now believe “responsible growth” is the path to the best returns.
The way founders think about growth can be examined through a tale of two companies. Both provide businesses with cloud-based software for payroll, benefits, and human resource management. Gusto was cofounded in 2011 by founder and CEO Joshua Reeves, and my firm became an investor. Zenefits was cofounded in 2013 by Parker Conrad, and investors included several high-profile venture firms.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\" Instead, what I found was a tarot card deck.
10 HOTTEST TRENDS for 2025
Want to buy a brand that buzzes? Here's what to know.
BUILD YOUR MONEY MACHINE
A franchise isn't just a franchise. It should be a Money Machine, creating profit even while you're out of the office. Here's how.
The Top Franchises for Veterans
Are you a military vet looking to become a franchisee, or just want to support a brand that supports the troops? Check out these 150 brands.
20 LEADERS WHO ARE DEFINING ENTREPRENEURSHIP TODAY
In a year of disruption, we wanted to know: Whose work will define the years to come? We reviewed hundreds of names and picked 20 leaders across a range of industries and sizes. Meet them on the following pages, and see what it takes to thrive in 2025 and beyond.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humilityand it changed the way I relate to clients.
I've Been a Publicist for 17 Years.Don't Hire Me.
Entrepreneurs often think they need PR. Most don't. Here's why you're probably better off not hiring someone like me.
The CEO's Advice to the MVP
Kickstarter CEO Everette Taylor knows the formula for a successful launch. NBA champ Jaylen Brown recently launched a shoe and athleisure brand. They have a lot to teach each other.
