Building the High Growth Venture: An Exploratory Study on How to Build a High Growth Venture

Abstract

Entrepreneurship is said to be the answer for job creation, but little explanation is offered on how to perform entrepreneurship. This thesis aims to reduce the gap by exploring how a high growth venture can be built. In this paper the entrepreneurial process was explored through a comparative case study, examining five entrepreneurs who have repeatedly built successful ventures. First and foremost, this paper found that it is possible to create a model giving practical advice on how to build a high growth venture.The paper found that the goal of the model was to find a product market fit, meaning that the product being sold was bought. But fit was found to exist in various degrees. For high growth ventures two factors of fit were commonly found optimized. They had one, a repeatable and scalable business model which delivered high value for customers. And two, a definition of the tiniest possible product which could be sold. In total these two factors were found to maximize margins which gave profit to fuel growth.The model for building a high growth venture was found to optimize the fit in an iterative process revolving around the customer. When a sufficient fit was found the venture changed from performing exploration to exploitation of the fit, which meant high growth given a good enough fit.