A Plan to Transform Into a 10x Company

In this year’s company’s annual gathering we set out to achieve a new goal. A challenge to extend ourselves, be disruptive, change the way we think, not to limit ourselves, and go all out to attain 10X growth.

Well! Telling everyone is the easy part, the hard part is to walk the talk. Hence, I thought to create a post to identify the action plan. The key reason being the motivation that social pressure puts on you. Moreover, I wanted to make it a collaborative effort where any reader can take these lessons as well as contribute to them.

If you would like to make recommendations to the plan- you can reach me at [email protected] or comment to the post.

Here is the list of our short and long term plans to achieve 10X growth.

Short Term

Define Your Business Model- Think through areas which can lead you to the 10X growth. Identify your top customers; why did they choose you? Can you get yourself in front of such people repeatedly? Business model Canvas can be super useful for the same. Also, add a few transformative services to our gamut of services that will help build future revenues.

Identify Doers in All Essential Positions- A company works when a group of people works together in sync with each other. You have to get your A-team lead the effort at all ends- the right, left, and center flank. If short on any position, don’t compromise with a B-player. Hire the A-player. Once you have the generals in place, you can rely on them to take the day-to-day decisions within their areas.

Start With a Priority List Going from Quarter to Quarter- Sit down with the team, make objectives, give responsibilities, take feedback, align/orient, do whatever it takes, but make the quarter count.

Mid Term

Become Super Obsessive on Quality- All successful companies do one thing repeatedly –– make their customers happy. Everyone in the company should understand the importance of making customers happy and swear by it. Make someone the incharge of customer success just like you have department heads for business and tech.

Use Technology in Key areas- To be able to scale up you must create value by leveraging technology in at least one fundamental building block, such as the value proposition, channels, or critical resources.

Long Term

Personal Branding of the Core Team- In order to achieve more, the leadership team should work upon their branding to get more visibility as well as attract access to better networks and potential employees.

Make Partners- Success is all about opportunity meeting preparation. This preparation not only means to make yourself ready but also to forge potential alliances, actively seek partnerships that create value and help you move up the customer value chain.

How to Kick-off from Here?

The simplest way to start would be having a conversation. Freeze half a day. Get your key stakeholders, discuss the plan, recognize the three next things that your team will do in the next one month. Make progress; meet again.

Let me know if I missed anything.