Closing a first round of funding is a big step for any startup and something to be excited about. Now comes the next step—deciding what to do with that new capital. You know what not to do, but what positive steps should you take first: Do you develop your product further? Start marketing and branding initiatives? Hire a round of employees? Undertake other business operations?
A recent study by Startup Genome found that 74% of high-growth Internet startups fail due to scaling prematurely. When you’re growing a new company, it can be easy to just think in terms of numbers: Everyone wants more customers, more users, a higher headcount. But there’s more to it than that.
You can read the whole article here via fastcompany.com