By Jerry Baack, Founder & CEO of Bridgewater Bank

When I, along with co-founder Jeff Shellberg and a few key investors, founded Bridgewater Bank in 2005, we had a bold vision, a whole lot of grit, and determination to challenge the status quo. We set out to create something different – a bank built by entrepreneurs for entrepreneurs.

What started as a handful of employees and a relentless drive to do things differently has grown into a nearly 300-person team serving many of the Twin Cities’ most successful business owners.

I’ve had a front-row seat to how businesses scale, and I’ve learned that growth takes more than just vision. Looking back, here are some key strategies that have helped us grow over the years and that could help you, too:

1. Build the Right Team and Get Out of Their Way

Let’s face it: growth doesn’t happen without the right people around you. Early on, I made it a point to surround myself with people who had skills and expertise in areas I didn’t, and this made all the difference.

Your people are your strength, so hire smart and then let them do what they do best. To put it plainly, micromanaging kills momentum. Trust builds it.

2. Create an Intentional Plan for Growth

Many entrepreneurs want to grow but don’t take the time to lay out a real plan. I get it. As entrepreneurs, we’re used to moving quickly and figuring things out as we go. But here’s the truth: if you want substantial, long-term growth, you need to be intentional.

Five years into Bridgewater’s entrepreneurial journey, we realized that our early momentum would only take us so far. If we wanted to scale, we needed something more. The answer for us was the Entrepreneurial Operating System (EOS). This powerful system not only provided structure and boosted transparency and accountability, but it also helped us lay out a roadmap, define our goals, clarify our values, and track real progress.

So, I encourage you to ask yourself: where are you headed? What does success look like in a year or five? And how will you know if you’re getting there? Create a roadmap and revisit it often. Also, if you aren’t familiar with EOS, it’s worth looking into.

3. Know When to Take Calculated Risks

Some of the most pivotal moments in Bridgewater’s growth came down to taking calculated risks. One of the biggest? Our IPO in 2018. It wasn’t an easy decision, but we knew raising capital would help fuel our next stage of growth.

Simply put, you can’t grow without taking on some level of risk. Whether it’s expanding into a new market, hiring a key executive, or going public, sometimes, you have to bet big to scale smart.

4. Focus on the Long Game

The truth is, entrepreneurship is full of ups and downs: financial pressures, regulatory changes, technology shifts… you name it. What’s helped us push through? Staying scrappy, nimble, and thinking long-term.

Challenges will come, but if you believe in what you're building, then stay true to your vision, stick to your values, and keep going.

5. Find the Right Partners

No entrepreneur scales alone. Whether it’s your team inside your business or the key partners outside it, your network matters. That includes your banker. A financial partner who understands your goals can be a real differentiator.

If you’re looking to grow, make sure you’ve got people in your corner who believe in your vision, have the expertise you need, and are willing to help you get there.  

6. Remember Why You Started

For me, it always comes back to people and the impact we can make. I think about the clients we’ve helped buy commercial real estate, open new locations, and grow what they’ve built from the ground up.

I think about our original investors, some of whom were able to put their kids through college or buy homes because they believed in our vision and took a chance on us. And I think about our team...the opportunities we’ve created, and the careers we’ve helped shape. At the end of the day, that’s what it’s all about. That’s what keeps me going.

Growth isn’t just about revenue; it’s about impact. And when you keep that front and center, it’s easier to stay focused through the highs and lows of entrepreneurship. 

Scaling a business is never easy, but with the right people, a clear plan, and a mindset for long-term growth, it’s certainly achievable. So, if you’re an entrepreneur looking to grow, I hope a few of these strategies help you move forward with confidence.

And, if you’re looking for an entrepreneurial banking partner who understands your unique challenges and is positioned to help drive your success, I encourage you to reach out to our dedicated team.