High growth businesses rarely stumble into success instead consciously develop a growth mindset. Based on our experience of creating high growth cultures to deal with disruptive markets and competitive challenges, successful leaders focus on getting these four hacks right:
- Get an action plan for growth that is uniquely tailored to helping you lead and grow your business. Don’t get hung up on Playbooks created by others and instead make your own. Your growth plan is likely to be sales or market led. Remember to plan over different time horizons (short, medium, long), as planning beyond the short terms anticipate and create better opportunities.
- Get a deeper understanding of your market. This will help identify key markets for your business and develop strategies for market segmentation, positioning and targeting. It is rarely productive to try to do it all. While new business is important, it is usually also important to grow retained revenues and prioritise key customers. Monitor and review progress so that you are constantly learning about your sales and marketing capabilities and development needs.
- Recognise what drives productivity and growth in your market at your stage of growth and understand what this means for your business. Use data and metrics to understand this and build a good understanding of your business model. As you develop, learn how to innovate your business model. Understand inflection points in the business and how the business needs to change at each point as well as taking advantage of investments in digital opportunities and systems. Develop strategies to improve operational efficiency, saving time and money.
- Develop your leadership and management skills. Look for scale up experience, balance in and out of market experience and advice that gives you access to a strong infrastructure and vibrant networks. Create new opportunities by advancing responsible business practices, including: creating an inclusive workplace that enhances employee wellbeing and engagement; resilience for the business and stakeholders including the environment and ecosystem.
We work with scale up businesses to established businesses to help them accelerate business outcomes, drawing on our experience of working in and with high growth businesses. Our integrated approach combines operational expertise covering leadership, strategy, finance, people, legal and IT.
If you would like a confidential conversation to understand how we might help you, you can contact us on firstname.lastname@example.org for one of our specialists to get back to you.