Marketing Copywriter at 1871
ScaleUp 2024 Unpacked - A Technology Conference for Innovative Founders & Inspiring Leaders
In the heart of Chicago, a city renowned for its resilience and transformative spirit, 1871 hosted its 7th annual ScaleUp technology conference this May to celebrate the thinkers and doers who are redefining the tech landscape.
Go to our Five Essential Takeaways As You Build & Scale in Today’s Market below.
Designed specifically for growth and late-stage founders, team leaders, and innovators who typically are “heads down” in their work, this year’s ScaleUp was an active day of programming and networking. The day was a resounding success, bringing together the brightest minds in tech for a day of innovation, community, and transformative insights across industry and function.
“Today is designed to support you on this phase of your journey and your team’s journey. It’s where your initial spark of an idea undergoes this rigorous test of market realities and customer demands,” said Betsy Ziegler, CEO of 1871. “ It’s a series of peaks and valleys, and each valley is a lesson that strengthens you for the next peak. Keep pushing, keep doing, keep asking for help. The future isn’t just something that happens, it’s something we create together.”
From opening remarks to the closing keynote with Jaron Waldman, Chief Product Officer of Cohere, the event was packed with dynamic panels, interactive workshops, and inspiring discussions about navigating challenges, celebrating successes, and embracing the “messy middle” of building, scaling, and leading a business.
Relive the best moments of the day in our 2024 ScaleUp technology conference playlist!
ScaleUp 2024 Unpacked: Five Essential Takeaways As You Build & Scale in Today’s Market
The energy and enthusiasm of this year’s speaker lineup was palpable as founders, leaders, and innovators shared their professional journeys, challenges, and success. Beyond their impressive career paths and note-worthy accomplishments, the message was clear: being a founder & leader in today’s market is A JOURNEY!
Here are 5 key takeaways from founders and leaders that YOU can use as you continue to build your company and take it to new heights.
1. Embrace the “messy middle”
In a panel discussion moderated by David Soto, Chief Investment Strategic Officer at Azelera Capital, panelists Tessa Flippin, Founder & Managing Partner at Capital VC, Aashish Dalal, General Partner at Venture Studio, and Mike Rome, Fractional CMO & CGO, Startup Advisor at Moonwater, discussed the challenges of being a startup and the opportunities for growth in ‘Breaking Through the Messy Middle.’
The “messy middle” is a challenging phase in a startup’s journey where initial excitement has faded, and the hard work of scaling begins. The panelists discussed maintaining mental resilience, embracing difficulties, and continuously adapting their strategies and products based on customer feedback, retention, and market demands.
According to Rome, successful startups often have teams that are disciplined in their approach, consistently prioritize and execute growth experiments, and learn from failures.
2. The power of culture, community, and balance in startups
In ‘Leading a Startup to A Scaleup’ leader panel discussion, panelists Cindy Don, Head of Software Engineering at Pangea Money Transfer, Varvara Alva, COO & CFO of Avid Bots, and Whitney Capps, Principal of ClearSpace discussed the important factors of elevating a startup for growth and success.
According to the group, critical success factors for scaling companies is finding the right balance between flexibility and structure in the startup, building intentional culture, and supporting employees to deter from burnout.
Flexibility is vital in the early stages for quick pivots and innovation, while structure becomes necessary as the organization grows to ensure accountability and efficient operations. Teams need clear goals and boundaries to explore within, promoting innovation without risking the stability of the business.
A company’s culture should also be more than just mission statements and perks; it should be reflected in everyday actions and decisions. Maintaining a strong, inclusive culture requires consistent efforts to integrate new employees, celebrate small wins, and model the desired behaviors.
Kirsten Ramos, President at Elevate suggested similar approaches in her breakout workshop, ‘The Art of Managing Others.’
Supporting employee well-being involves creating spaces for social connection, recognizing individual contributions, and maintaining a healthy work-life balance. Leaders should strive to create an environment where employees feel seen, heard, and supported both professionally and personally.
3. Build & rebuild your “dream” team
In ‘Leading a Startup to A Scaleup” founder panel discussion, moderator Caroline Vial, PhD, Founder & CEO at Upward Bound Executive Coaching, and panelists Liz Tilatti, Fractional Executive & Advisor at Liz’s Lab, Jeremie Bacon, Co-Founder at The Forge, and Olivia vonNieda, VP Business Operations at McKesson, shared their personal insights on running a startup and the importance of having the right people by your side.
The journey from startup to scaleup involves continuous challenges, and founders and leaders alike need to recognize that different phases of growth require different skill sets and team structures.
According to the group, a successful startup must be open to replacing team members and hiring new ones with the appropriate skills for the current stage of the company. The founder’s role is to navigate this process honestly and strategically, ensuring that the team evolves to meet new demands and goals.
This may involve making tough decisions about when to hire or fire, making efforts to build strong relationships with team members, and aligning the individual’s skills and strengths with the company’s growth trajectory — yes, including your investors.
4. Identify and engage your ideal consumer with emotional appeal
In ‘Brand Talk: How to Scale Up by Standing Out’ breakout session led by Scout Driscoll, Founder & CEO @ DesignScout, Faith Hurley, Co-Founder @ Pinpoint Collective, and Amanda Wurzbach, Founder & Creative Lead @ Total Dish, discussed the importance of standing out as a brand to connect with your ideal consumers.
According to the trio, branding is about creating an emotional connection with consumers, as people often make purchasing decisions based on feelings rather than rational thoughts. Successful branding starts with a deep understanding of the ideal consumer and conducting qualitative research to understand the motivations and needs of the target audience.
By focusing on the whole person and their lifestyle, brands can create personalized, “made for me” moments that resonate deeply with consumers. This approach helps in developing a brand that speaks directly to the target audience’s needs and preferences, leading to a stronger emotional connection and brand loyalty.
5. Build fast, grow smart: Navigating early innovation & organizational growth
Our closing keynote with Jaron Waldman, Chief Product Officer of Cohere was nothing short of inspiring! With his professional background of building,scaling, and leading several successful businesses, Waldman emphasized the importance of diving into building and iterating quickly, especially in the rapidly evolving AI and large language models (LLMs) space.
During periods of rapid growth, Waldman underscored the importance of surrounding oneself with capable and ambitious people who can take on new responsibilities. He advised leaders to delegate effectively, support their team members, and embrace the inevitable chaos that comes with rapid expansion. Trusting and empowering the team is crucial to managing growth and maintaining momentum!
Thank you to all the incredible speakers, attendees, and innovators who made ScaleUp 2024 a huge success. From groundbreaking insights and inspiring keynotes to invaluable networking opportunities, this year’s conference was all about driving growth and innovation.
This day would not have been possible without the support from our sponsors Invest Northern Ireland, Google for Startups, and T-Mobile Wholesale.
We can’t wait to see you next year for ScaleUp 2025, where we’ll bring you even more transformative ideas and growth-centered programming to life.
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