Hypergrowth can be achieved in a couple of different ways, either through a repeatable business model that can be easily recreated in different geographical locations, or by developing disruptive technology that satisfies an underdeveloped opportunity.

Regardless of how growth is achieved, there are several commonalities that all hypergrowth companies share:

• Customer focus. Hypergrowth companies are typically obsessed with solving a customer problem, often reimagining the problem and how to solve it across the entire life cycle. This is not only a vision statement, they put structures and processes in place to support that focus. E.g., Payments company, Stripe, not only obsessed about the customer experience, but they also had a vision for the future by providing a payments infrastructure for the internet.
• People. The organisation will need to hire the right people to innovate and grow the business. People who demonstrate a growth mindset, learn new skills quickly and have high personal resilience levels. A transparent, flat structure, with clear accountable roles will create a robust organisation. Developing a pipeline of talent and hiring ahead, to avoid the company growing faster than its’ employees’ skills.
• Knowing your metrics. Companies that are experiencing hypergrowth need to maintain laser focus on the metrics such as revenue share, customer acquisition cost, customer lifetime value and margins by product or service. Leveraging external data, underpinned by machine learning or AI (Artificial Intelligence) will help the company discover new market opportunities. Real time scenario planning will enable nimble decision making.
• Rapid change. These organisations are experiencing extremely rapid growth, typically outpacing both the market and/or competitors. They, therefore, face the necessity of having a rapid-response strategy for change.
• Strategic perspective. This is the opposite of operating in panic mode or survival thinking. Actively planning and moving towards expansion, with a strategic agenda, that is making strides to meet milestones. A shared purpose and vision, with clear activities that will lead to actionable strategic guidance across the business.
• Transparency. Hypergrowth organisations are typically transparent about billing, pricing, and customer acquisition strategies, which is a positive high-growth sign.
• Excellent communication. Using candour and straight forward language, hypergrowth companies communicate often and well. They recognise the need for excellent communication whether it’s good or bad news.

For further information, including the latest trends and how to take advantage of them, download our full whitepaper.

In our next blog, we’ll be sharing challenges that hypergrowth businesses face, such as run-away costs and strategic business planning, so keep an eye on our social channels where we’ll be publishing details.