The main characteristics of the businesses we deal with is that they are all Growth Focused. (You might even say, growth obsessed!!)
But how this focus plays out in not only the growth rates that they actually achieve, but also in the daily experience of owners trying to keep the wheels turning or to stay in control of the ship … well, that’s a very mixed bag.
Three Types of Growth
From our observations, there are three main boxes that growth focussed businesses fall into:
Box 1 – businesses that have a single focus and work very hard at improving the efficiency of selling their product in the market – we call this Incremental Growth
Box 2 – businesses that constantly seek new opportunities to generate growth across multiple areas of their business – we call this Opportunistic Growth
Box 3 – business that use a deliberate approach to search out growth opportunities that fit within a core strategy – we call this Strategic Growth
Which of these approaches do you think creates less stress and achieves outcomes faster?
A Strategic Pathway to Business Growth
Typically when we operate in Box 1 or Box 2 it's because we’ve learnt growing a business is about either:
finding something that works and driving hard,
acting on any likely opportunity as it arises or
simply mimicking the strategic moves of competitors?
Strategic growth instead requires implementing a disciplined approach, to look past the obvious and uncover the right growth strategies for your business. There isn’t just one way to do this, but it does need to be a process that’s appropriate for the size and stage of your business.
Ultimately, the difference in outcomes between a business where growth is just a daily operational & tactical focus, and in a business where this has been developed as a key strategic capability, can be quite vast.
The Strategic Growth Framework is the process we use to ensure a business achieves its growth outcome faster, more directly and with less of the roller coaster experience.