A Process for Growth in Business
The Issue:
Stability is not a substitute for growth. Growth is more important to your company’s well being than any other financial or operational change you can implement. Without growth any improvement in your company’s financial position will be marginal. Growth needs to be systemic in the organization and a continuing process.
Growth is an ongoing journey where each day provides a new vista of opportunities. Dozens of excuses are presented by companies to explain why growth isn’t possible. Remember that during the years between 1929 and 1937 arguably the worst economic times in the country’s history 65 of the current Fortune 500 companies were formed and these are only the ones whose names remain intact today.
The Solution Pathway:
The four most common paths to growth include:
- Increasing the price of your current product or service.
- Find new opportunities among your current customers
- Enter new markets
- Merger and acquisition.
The Process:
There is very little luck involved in growing your business except in the John Madden definition “when preparation meets opportunity”. The good thing is that you have almost total control of both.
There is always opportunity, you need to go find it. Some businesses don’t know where to look. Some wouldn’t recognize it if it spit in their face and others aren’t prepared to take advantage of it. The CEO Solutions process will focus on preparation and guidance to new opportunities.
- Assess the following three areas to determine your preparation status:
- You Business model. Is it still valid and can it be modified or expanded?
- Your sales process. Does it adequately support your business model?
- Your web site. Often overlooked but it is the first image prospective customers get of your business.
- Develop a growth plan. A session designed to create a 3 year vision, a 12 month objective and a 90 day action plan. It includes a monitoring elememt to determine if the 90 day plan is on target and set the next 90 day plan until the objectives and vision are achieved.
A Proven Process to Successfully
