Categories: Front-line Managers  |  Sales Leadership  |  Unicorn Companies

How Unicorn Companies Maintain Their Growth Momentum

By: Tom Peterson 7 minute read

In 2013, a venture capitalist coined the term “Unicorn” to refer to privately owned firms valued at over $1B. Back then, only 39 companies fit the criteria. Legislation had cleared the path for private companies to pursue funding and Unicorns became less mythical. By 2020, there were over 600. The real Unicorn stampede occurred in the wake of pandemic-era restrictions, fueled by rapid tech adoption and an exuberant funding environment. During 2021 alone, 537 new Unicorns were minted. Today, there are over 1250. There is no roadmap for becoming a Unicorn, but there are common threads. Most have great timing with a disruptive idea, scalable technology and a relationship with investors marked by two-way trust. But once they've reached the coveted Unicorn status, how do companies maintain performance and continue their steep growth trajectory? For leaders at these companies who have reached great heights and want to keep the pedal to the floor, there are three critical areas they'll need to maintain and support continued success. First, fast-growing teams need a unified sales message to leverage clarity on the value they’re bringing to the market. Second, streamline your selling processes: qualification methods, deep discovery, capturing and sharing proof points – fine-tune each component into a repeatable process embedded in your operating rhythm. Third, maintain strong talent while emphasizing retention and development. Let’s examine these three focus areas: