What are the key factors to consider when choosing a growth matrix framework for your industry or sector?

Don’t ignore the math but also don’t let the math be the sole influence on your strategy. A considerable amount of information can be gleaned from a Herfindahl Index Analysis (how you can analyze and industry’s competitiveness) and some financial modeling but the math is really good at encapsulating the past but not great at capturing the future so while these matrices are good and the data is even better don’t let these be the end all be all of your decision making. Also you don’t need a growth matrix at all to figure these things out ??.

Be sure to include ALL stakeholders in this process. Goals set by stakeholders and C-suite executives don't always get relayed to marketing, sales, and finances! It is really really hard to hit a goal you don't know you have. ?? This process needs to be transparent, and shared with everyone - so all teams can work toward a common goal, or two!

What’s more is you should have a Commander’s Intent statement that allows your team to think of the vision you set out in the same way that you would but also helps them bridge the gaps that come from implementing the strategy in their particular role. You can learn more about it here https://learnermg.com/commanders-intent/

Data Engineers (like myself) help greatly to make sure that the right data, reached the right data, at the right time! In a decade of working with organizations this is always the bottle neck to fast decision-making which is the bottle neck to being more agile and more responsive to the market. Furthermore, the most agile companies see the most growth. Typically 60% more than their competitors within a year after adoption.

In my work I help clients conduct stakeholder analysis to make sure that strategy and vision have been communicated effectively and that everyone has bought into the vision. As a C-suite leader, the board’s opinion is super important but so are your frontline staff. If they aren’t happy with your decision then it’s likely that your customers won’t be either. P.S. This is why A.I. needs a watchful eye because this has very little to do with choosing a growth matrix framework. Also, I’m saying this as a consultant who’s worked with hundreds of organizations, you probably don’t need that growth matrix at all.

This is gold! ^^^ Don't always DO what others do, but do keep an eye on what they are doing. You need to know at all times what your competition is up to, but you don't always need to follow them.

When choosing a growth matrix framework for your industry or sector, consider industry-specific factors, strategic goals, resource availability, growth potential, scalability, measurability, and flexibility. These factors will help you choose a framework that aligns with your industry's needs, goals, and available resources and can adapt to changing market conditions while being measurable and scalable.

CAPITAL…do we have the cash to support our growth and its desire! We need to maximize all capital requirements so that the base company can survive in a survival mode!

Growth is dependent on customers. You can’t implement growth when customers pay a $1 for your product. You need to understand the wellness of growth from a customer point of view. Your customers are your shareholders, not including them as a factor for the growth matrix is a big risk that only leads to unmarketable products which can sell better by a competitor if their customers can bare the cost of growth.

Consider not using a growth matrix at all. They’re good when they’re good but bad when they’re not. Mostly because you already know what you want to do and most of the time whatever the matrix tells you won’t change that opinion anyway. The reality is that your gut is probably gonna be more right about what’s next than some random matrix created by a Ph.D at a Big 4 Consulting firm. A growth matrix won’t tell you how to get to where you want to go just if it’s a decent option, but you already knew that. 70% of change initiatives fail, but never has it been because the wrong matrix was chosen!