Are you preparing for a new phase of growth in your company but feel uncertain about the strategic direction? You’re not alone. Many entrepreneurs face the challenge of navigating expansion with a sound strategy in place. That’s exactly what we addressed during the Masters of Scale Breakout Session titled Discover the Power of Strategy in Your Company’s Growth Phases during the nlgroeit Changemakers Year Event 2024.
A room full of experienced entrepreneurs and business leaders gathered to uncover actionable insights into strategic planning. The session was moderated by Melissa Ablett-Jordaan (Former COO, Cambridge Innovation Center) with insights from a panel of experienced entrepreneurs — Duke Urbanik (Serial Entrepreneur and Co-founder Masters of Scale), and Dieuwke Hoogland (Co-founder Masters of Scale, Certified Non-Executive Director, Founder Female Ventures) and Josefien Groot (Co-founder & Chairwoman, Qlayers)—the session provided a mix of theory and practice, tailored for entrepreneurs ready to scale or already scaling.
The Core Themes: Strategies for Every Phase of Growth
The session kicked off with a discussion on two frequently used strategic frameworks for growing businesses: McKinsey’s 3 Horizons model and the “Explore vs. Exploit” methodology.
Dieuwke introduced McKinsey’s 3 Horizons framework, explaining how this tool helps businesses balance their short-term needs (Horizon 1), mid-term growth (Horizon 2), and long-term innovation (Horizon 3). With the speed of modern business evolution, the discussion touched on how these horizons are becoming increasingly fluid, compressing time frames for each phase. Duke Urbanik reflected on how this model has evolved with technological disruption and the pace of business today, noting the importance of balancing immediate operational needs with future-proofing.
Josefien took the floor to explain the “explore vs. exploit” model, which helps companies manage the tension between innovation and scaling. Josefien emphasized how exploring new avenues of growth needs to coexist with refining what’s already working—a delicate balance many entrepreneurs struggle with. She shared insights from her journey with Qlayers, discussing how her team divided their focus across geographies and industries to strategically balance innovation and growth.
When Strategy Meets Agility
One of the recurring themes in the session was the importance of balancing strategic planning with agility—something especially critical for scaleups. The panelists highlighted how traditional business templates, like the 3 Horizons framework, offer structure but must be applied flexibly. Melissa emphasized that even with a strategic plan in place, founders need to remain adaptable to feedback from the market.
Duke added that scaling up often involves tension between focusing on existing successes and investing in new opportunities. “It’s easy to get caught up in what’s working now,” he said, “but if you’re not looking forward to Horizon 3, your company might stagnate when the market shifts.”
Real Stories, Real Lessons
The most memorable parts of the session came from personal anecdotes shared by the panelists. Josefien discussed how Qlayers managed to navigate regulatory challenges and market expansion by applying both strategic models. Dieuwke shared her experience of scaling companies through external capital and the establishment of Supervisory Boards, stressing the importance of governance as a tool for growth.
Duke recalled a pivotal moment in his entrepreneurial journey when ignoring strategic planning led to a costly mistake. “We didn’t pay enough attention to Horizon 3,” he said, “and by the time we realized it, we were scrambling to catch up with the market.”
Key Takeaways
By the end of the session, participants left with a deeper understanding of how to develop and apply strategic frameworks that guide business growth, particularly during scaleup phases. Here are some of the main takeaways:
- Know your growth phases: Understand where your company stands in the 3 Horizons model and adapt your strategy accordingly.
- Balance exploration and exploitation: Allocate resources not only to scaling your current successes but also to exploring new markets, ideas, and technologies.
- Stay agile within structure: While strategy provides direction, agility keeps you responsive to market dynamics.
- Leverage external support: A strong Supervisory Board and other advisors can play a critical role in your company’s scalability.
For those who attended, the session provided not just theoretical insights but practical tools for making strategic decisions that align with their company’s growth ambitions.
As businesses continue to scale, especially in today’s fast-paced environment, it’s crucial to remember that strategy isn’t a luxury—it’s a necessity. Strategic frameworks like McKinsey’s 3 Horizons and the “explore vs. exploit” model offer guidance on how to balance current operations with future growth, ensuring that your business stays competitive, agile, and prepared for the next phase of growth. There are of course many other models that can be used, it all depends on what works best for your company.
Would you like us to host a workshop or breakout session for your event, please contact us at hello@mastersofscale.nl.