Many start-up stories of iconic brands sound a bit like fairy tales. Each of these now global companies started with a few people and now employs thousands worldwide. The untold story is about those who didn't make it. And there are plenty. More that two-thirds of startups never deliver a positive return to investors.

In fact, 23.2% private sector businesses in the US fail within the first year. After five years, 48% have closed. High inflation, high interest rates, tight talent market and demanding investors don't make success easy. As CEOs like me aim to grow their businesses, they will need to constantly monitor economic conditions and consider the company's strategy, value, and risk tolerance in a changing world.

While we can't be sure of every little detail that went into the growth journeys of Apple, FUBU or Starbucks, we can be sure of one important element: their founders grew their companies in effective ways, navigating the environment around them, reading cues and acting accordingly. If you're an entrepreneur ready to take the next step for your business, here's how you can put one foot in front of the other and go from aspiration to ascension:

Anchored on a solid foundation

You already have a solid foundation for your company. The business is your baby, your biggest and brightest idea, and you've worked hard to give it the best start in life. But as organizations mature and grow, it's up to their leaders to ensure they stay true to themselves basic valuesvision and mission statements.

Much of the success of a scale-up comes from creating, maintaining and building on a solid culture where team members feel a sense of belonging and inclusion. However, achieving this strong and supportive environment is not always easy, especially when a business is in the growth phase.

This is why a strong coaching culture is such an important part of the overall corporate culture. A strong coaching culture increases engagement between managers and employees while also focusing on supporting the strategic direction of the enterprise. A coaching culture offers employees at all levels the opportunity to enhance their skills, increase their value, and achieve their professional goals.

A shared sense of purpose is the first step to success. Establishing mutual respect for each other's abilities and contributions also fosters achievement as everyone wins, not just one. or McKinsey analysis shows that organizations that create this sense of culture have less attrition, which is an essential element for scaling. Nurturing the roots of the business in line with the culture will serve leaders better as they begin to grow.

Related: What makes a great company culture (and why it matters)

Improve strategic vision for planning, support and growth

Startups that succeed are those that have a clear vision, targeted strategy and process to look ahead to potential risks and rewards. This strategy must start with the leaders clearly communicating goals and incorporating relevant input from stakeholders, including the board. Professional coaching helps these leaders refine their strategic vision, achieve growth goals, and provide structured reflection and accountability.

Peter Drucker said that one is only a leader if one has followers. Leaders must first identify the key roles and skills needed within their organization to build a strong team capable of supporting scale growth. What are your current and future needs? What are your long-term and short-term goals? Consider technical, professional and people skills as you move forward.

Nothing is static these days. New gains in technology, new approaches to solving problems and new tools are offered to us every day. Organizational and business success depends on your effort and ability to provide continuous education to your teams. Investing in professional development, including coaching, can foster a workforce that is able to cope with change, seize opportunities, manage challenges and enhance growth.

Related: How Great Leaders Communicate Their Vision

Keep an eye on the resources

With rapid growth comes increasing pressure to manage limited resources efficiently. Leaders and their teams must clarify the vision, priorities, and activities and resources that have the most impact on making strategic choices. Through this, team leaders are better able to delegate responsibilities effectively, thus avoiding burnout. Do not consider burning as a badge of honor! It can make or break your organization.

As a leader, you need to take care of your team. This is your responsibility. Even bigger – take care of yourself! Without your vision, thought and passion, the business, especially in its growth phase, may not be able to move forward. Plan, prioritize, act and rest to renew.

Check your work. Founders and CEOs have a tendency to “go it alone.” While entrepreneurs will always have a personal stake in the business, it's also important to recognize that as your business grows, your role as its leader will need to evolve with it. This involves relinquishing control over day-to-day activities to your team members so you can move into a more strategic role. The best reward is giving your employees and your company a chance to take on new challenges and knowing that this change in role sets you up for more success in the future.

Related: Building your business with limited resources? Here's the mindset you need to succeed.

Strong foundations power strong growth

It's hard to think of your idea to graduate from a startup to a scalable business. But it's worth a try! If successful, the idea will change many people's lives, not just yours and your team's. Always remember your roots and remember where this passion comes from. Build a team and provide the support and coaching they need. Work hard and manage your time and resources. Before you know it, your business will be wowing many people, including you!