Given the high failure rate for start-ups, survival can be a real badge of success. Lifestyle and salary substitute businesses may be able to survive on a day-to-day basis with an informal, tactical orientation; but as a business grows and more staff are recruited, systems and process are likely to become more formalized. For some businesses – the gazelles we looked at in Chapters 1 and 2 – the real challenge is dealing with growth. And the skills and capabilities of the entrepreneurs leading them need to change.
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