What’s the Best Way to Scale—Lean & Mean or Raise Big?
Posted on 21st February 2025 at 12:55
When it comes to scaling a business, there’s no single path to success. Some founders focus on lean operations and securing early revenue, while others prioritise fundraising to fuel rapid expansion.
Which strategy do you think works best? Read on to discover how two entrepreneurs took different paths to scale their businesses, and let us know your thoughts in the comments!
On ScaleUp Radio, Dan Tennakoon (RE24) and Raluca Epureanu (Flairmakers) took very different routes:
Dan Tennakoon bootstrapped RE24, focusing on early customer validation before seeking funding. His goal? Build credibility, sign long-term contracts, and prove the business model before raising capital. He believes in keeping the business “lean and mean”—only spending when absolutely necessary.
Raluca Epureanu, on the other hand, secured £275,000 in early funding from friends and family to get Flairmakers off the ground. She knew investment would be crucial to developing the platform and scaling quickly. However, she underestimated the time and energy fundraising requires, particularly from venture capitalists.
Both strategies have their merits, but what really determines success?
The Biggest Lessons from Their ScaleUp Journeys
1. Customer First, Always
Dan built RE24 around deep customer understanding—ensuring long-term contracts with credit-worthy energy users. Raluca knew her hospitality freelancers needed flexibility and control, so she designed Flairmakers to empower skilled professionals while making it easy for businesses to hire them.
2. The Power of a Strong Network
Dan admitted he should have built his network of end-users sooner, as credibility plays a massive role in gaining traction. Raluca, launching her startup in London, found the ecosystem invaluable but had to be selective about advisors and investors.
3. Scaling Is Tough—But Persistence Pays Off
Dan described the startup journey as "lonely beyond comprehension." Raluca found out the hard way that fundraising takes far longer than expected. Yet both founders agree—persistence and resilience are non-negotiable when scaling a business.
4. A Clear Mission Creates Momentum
Dan’s vision is to take RE24 to an IPO, leaving a lasting legacy in clean energy. Raluca sees Flairmakers as the global go-to platform for hospitality freelancers, shaking up the way professionals work in the industry.
How BizSmart® Helps You Scale Smarter
Scaling a business isn’t just about choosing between bootstrapping or raising investment—it’s about having a clear strategy, the right support, and a proven framework to help you grow with confidence.
At BizSmart®, we help business leaders:
✅ Develop a scalable business model that works for them.
✅ Gain strategic clarity through expert-led programmes.
✅ Learn from other ambitious entrepreneurs through peer support.
We’ve helped hundreds of business owners navigate their scale-up journeys through strategic planning, peer support, and proven frameworks. Find out how we can help you too!
Learn more about BizSmart®: https://www.bizsmart.co.uk/how-we-help/
Which Scaling Strategy Works Best? Listen to ScaleUp Radio
Both Dan and Raluca’s stories prove that there’s no single formula for success—but their experiences can help any entrepreneur navigate the scaling journey more effectively.
Are you scaling your business? Do you stick to lean growth or raise big early? Drop a comment and let us know!
🎧 Want to hear the full conversation? Listen to ScaleUp Radio now:
👉 https://directory.libsyn.com/shows/view/id/scaleupradio
NEW: Podcast Episode Hosted by Kevin Brent & Granger Forson
And for those who’d like an even deeper dive, we’ve created a special AI-generated podcast episode summarising these insights, allowing you to listen to the key lessons and comparisons discussed in this blog.
🎙️ Listen to the episode, hosted by Kevin Brent Director and Founder BizSmart and Granger Forson BizSmart Gloucestershire:
Tagged as: ScaleUp Radio Podcast
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