As a founder, there is nothing more exciting in the life of a startup than seeing your company grow significantly.

That said, it’s also completely and utterly terrifying.

2014 was a year of great growth for Taulia, the company I helped found in 2009. We more than doubled our employees from less than 100 to more than 200. We opened offices in Austin, Texas, and Sofia, Bulgaria. We received $40 million in Series D funding. A SaaS company—which allows Fortune 500s to accelerate payments to their suppliers in exchange for a small discount—Taulia also tripled its revenue. But managing a company that has grown, seemingly overnight, into a much larger organization, can be scary.

Why? Well, there are too many reasons to count. All of the sudden, you’re spending money much faster than in previous years. You receive more inquiries from your increasing number of customers. Then you have to deal with something I like to call the “P-word”—because it’s something I really don’t like: policies. But you realize you need to create a few policies. And they need to work not only across offices, but also across countries—many which have different regulations, tax rules, and laws to comply with (more on the “P-word” later). You face all these new challenges while still trying make sure your employees—many of them newly hired—have the resources they need to succeed, in a positive, welcoming work environment.

It can all be a bit overwhelming and daunting, as you can imagine. While every company is different, of course, I wanted to share three tips I think are applicable for all founders.

1. Hire Smart People Over People With Great Qualifications

Every founder wants to hire smart, qualified people to work for their startup. Unfortunately, these folks aren’t always the most accessible, for obvious reasons. But let’s say you have two candidates for an open position. Candidate A is extremely well-qualified and seemingly fits the job description on paper, though you weren’t blown away by his interview. Candidate B knocked her interview out of the park and struck you as very smart, but she doesn’t have nearly the amount of qualifications you are looking for.

Go with Candidate B. Why? You need to hire people who can adapt to a variety of roles, not just the position you are hiring for. That’s because at a startup that role will change, eventually. Smart people will be able to adapt quickly because they learn fast, and will be able to take on more responsibility.

As you know, roles at startups can evolve quickly, and you need people on your team who can adjust at the same speed.

2. Embrace The “P-Word” — Just A Little

Every startup founder likes to believe that their company has its own unique culture and identity. As the business grows, however, some of that identity can feel like it has changed somewhat. That’s because a 20-person company operates much differently than a 200-person company, and the culture is a byproduct of that shift, too.

I’ve always disliked uniform policies. I personally just don’t like blanket policies on how to handle things — whether it is expense reports, the promotion process, or human resource scenarios, or anything else. I’d much rather hire good (and smart!) people and just trust them.

That said, some policies are simply inevitable. In fact, a lack of policies can even open your company up to liability if you don’t have them in place. As we’ve scaled, Taulia has tried to use simple guidelines for the vast majority of our processes—putting as much trust in our employees as possible. But, like any other company, we know it’d be risky and less efficient to not have vital policies in place for certain situations.

So evaluate each policy on a case by case basis and ask yourself: will we be vulnerable if we don’t have a policy in place? Will this policy help us be more efficient? Will there be too many gray areas to make it possible to implement?

Once you have these answers, you should have a much better idea of whether you need a formal policy or not.

3. Make Sure Your Departments Are Ready For Growth

As you prepare for your growth, you should really take a good look at your company and ask yourself some key questions. What are your company’s strengths and what are the challenges? How will certain departments react to rapid scaling? Is there one department that consistently overachieves, and another that seems less efficient?

Closely examine why certain departments are doing better than others. Is it because you’re not dedicating enough resources to support them? Do they not have enough good leadership? The reasons can be endless. As a leader, you must truly understand each department’s challenges and have a plan to address these challenges, before you can grow.

Think of customer support, as an example. It’s fantastic to have more customers. But be sure to examine if the company is ready, in its current structure, to serve the needs of many, many more customers. If not, you may want to re-think how you’re structured, and consider bringing on additional team members to accommodate further growth.

And just remember — even though it can be scary, growth is a very, very good thing.