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Alice Nell
February 18, 2016

Startup Basics 101 with Yatan Blumenthal | Stay, Scale, or Exit

The word is out! You might have heard it; in March starts a brand new accelerator at ours! Who, what, where? EY start-­up-challenge,​ in collaboration with b​etahausX.​ Great reason to ask our Chief Accelerator Yatan Blumenthal to write a series of blogs, and share some basic startup insights.

Phase #4: Stay, Scale, or Exit

You have survived a few years and you’re now in the lucky 20% of companies that are actually going somewhere. Congratulations! That is however, if you stay on the path of excellence.

 

Systematize your company

When you’re growing your company, a good question to ask yourself is: “What would I need to document if I’d want to franchise this company?”. Looking at your company in this way enables you to systematize most simple actions in your company and start optimizing. When your team expands, you’ll have all materials ready to get new hires up to speed fast and easy, Even though many might not like it, McDonalds is the best example of a completely systematized company. A good resource is e-myth. Combine the skill of logging, documenting, and creating manuals, with an experimental startup spirit, and you’llhave a winning combination.

 

Small is beautiful

So now push comes to shove. What do you want and what is best for your company? The cliché way for a startup is to start small and then dominate the world. ome companies however, have reached their sweet spot at a certain size. They’re doing well in one particular market or geography, and best way to go for them, is to  stay that way. For example competitors of Uber are best advised to stay strong to their local markets. There is nothing wrong with staying small; “small is beautiful”! You can run a tight ship, keep providing more value to your customers by improving on what you have, and keepyour employees, your customers, and yourself happy. A lot of hidden champions in Germany follow this approach: Steady client base, constant incremental innovation.

 

Go Big or Go Home

Equally you can try to go global and take over, become the next Uber, Facebook or Google. This approach will require a big portion of “no guts, no glory” mentality because you’ll have to take big risks and scale quickly. Be sure to get advice from seasoned business people. Running a company that goes from 10 to 500 people in a matter of months is something youdefinitely should get assistance on.

 

Sell your startup or Exit

Many startups dream of being picked up by a Microsoft, Google or Facebook. It can also be a General Electric, a Siemens or a Samsung. Tough choice to make; either you grow a bit longer and cash out for a bigger price, or you take the offer now. Consider the terms under which you’re willing to exit and sell, and also consider for how long you’ll want to stick around to make your company grow. It’s a personal choice, and it’s yours to make.

 

Is that all you got?

I know I know. There are a lot of steps missing here, and an experience of years is simplified and narrowed down into 4 basic blog articles. This is just a teaser to get you and your startup on theway of becoming successfulr with a scientific mindset. Get reading and experimenting, take Lean startup and customer development as inspirations, check out what Zappos is doing in terms of organisations  and have a look at the way in which SpaceX revolutionised space travel. Be daring in a rational way, and enjoy the Startup ride!

 

Want to know more about the EY start-up-challenge? You can read all about it on their website. 

 For more content like this, click here

The new space is six stories spread out across 2800 sqm. We’ll be renovating the building with our members in mind, so here’s what we can promise:

  • 5 Floors of Coworking Areas
  • Event Spaces
  • More Meeting Rooms
  • More Team Rooms
  • More Call Boxes
  • A Rooftop Terrace
  • A Café

We'll be updating The Move landing page with photos as we have them, so watch out for that!

when do you need a notary?

We’ll open the doors of our new space between mid-August and mid-September 2018. We plan to begin moving in July to ensure that the space is functional and comfortable by the time you get there. Bottom line, we’ll do everything we can to make the move as seamless as possible.

The move is our third big announcement of 2018 following the news that we’re be expanding our operations with betahaus | Tirana and managing coworking for Berlin’s new blockchain space, Full Node

The idea behind betahaus was never to be just a coworking space. We wanted to create a platform where people of our generation could thrive personally and professionally. We’ve always thought we could do this on a much bigger scale and we’re thrilled to see it happening. We’re excited about what we’re able to learn from this move, not just for betahaus, but for the future of coworking in Europe.

We’re sure you have a lot of questions about what’s coming next. 

We want to hear from you! Email us at themove@betahaus.com or join us for a closed Town Hall where we’ll answer all of your questions and talk through any concerns. We’ve also started members-only page for FAQs, resources, and important dates about the move (check your inbox!). 

We've got some big changes ahead of us, but one thing's for sure: we're so glad to have you with us for the ride!

We're looking forward to this new challenge, and will keep you updated along the way. Get in touch with any questions you might have about Full Node!

Not a blockchain startup but looking for a coworking space? Be sure to check out the flexible membership options at betahaus!

Finally, You describe your target group as LOHAS (Lifestyles of Health and Sustainability), which is a very niche market. Can you tell us more about what type of people they ARE and what theY value? What's some advice you can share to other startups targeting this market?

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