Why is understanding growth strategy important?
Fixed costs invariably rise
New talent will ‘get’ you and want in
With most growth comes profit increase
Ability to handle shrinkage is key
The Clear Idea
My last job was to helm a company and grow it from a germ of an idea to an award-winning £10million-plus position.
Opportunities were costed, processes refined, strategies developed and people put in place.
It’s fair to say that, as a company, we got pretty good at this. Indeed, we landed ourselves on the Virgin FastTrack 100 in two separate years.
It was exciting, risky, fun, addictive, chaotic, organised, sometimes essential, sometimes ego-driven, challenging, scary… but ultimately, always rewarding.
Growth, in some form, must find a place in your business strategy. It doesn’t have to be a huge or aggressive push. It can be incremental, measured, gradual. But it must exist. Failure to plan for growth is effectively to inhibit your business into inevitable stagnation or even decline.
My job is to work with you to understand what the word ‘growth’ means to your business. We’ll identify what is realistic, apply it to your model and agree on what’s required to get you there.
PS: Feeling overwhelmed by the thought of scaling up? There’s no harm in swapping out the word ‘grow’ for the word ‘improve’.
Questions to ask yourself
Why do I want to grow?
What are the costs attached to this phase?
Do I have the processes in place to deal with the growth?
What are the risks involved and can we plan for them?
Support and implementation