Growing Pains Transitioning from an Entrepreneurship to a Professionally Managed Firm

Why, after brilliant beginnings, do many leading entrepreneurial firms lose their way and eventually fail? What secrets have other start-up companies discovered to help them weather the storms of rapid growth and emerge successful? In this new and revised edition of Growing Pains, authors Eric G. Flamholtz and Yvonne Randle observe that many entrepreneurs are unprepared for the rigorous organizational demands of rapid growth. As firms mature, the loose, informal management styles that drove them to success become inadequate. Original systems are strained, profits decline, and founders are ousted to make room for more experienced managers. Drawing on the experiences of Starbucks, Jamba Juice, and PacifiCare, among other recent success stories, Flamholtz and Randle show entrepreneurs how to make the successful transition from humble start-up to professionally managed firm without sacrificing the unique spirit that inspired the company in the first place. The authors provide readers with a framework they can use to evaluate their firm's growth objectively, anticipate problems, pinpoint solutions, and plan strategies that will move their company toward desired goals. They outline the seven predictable stages of organizational growth and identify what must be accomplished in each stage to ensure the company's continued healthy development. Growing Pains provides the entrepreneur with many proven principles of professional management, offering guidance in such key areas as strategic planning, organizational structure, management development, organizational control, leadership, and corporate culture management. Thoroughly updated to address the realities of today's business environment, Growing Pains will help company founders deal with the personal and professional challenges they must confront as they transform their companies into professionally managed firms.Flamholtz, Eric G. is the author of 'Growing Pains Transitioning from an Entrepreneurship to a Professionally Managed Firm' with ISBN 9780787946944 and ISBN 078794694X.