Are You Really Pursuing Growth?

(By: Doug Howard, Growth Team Strategies)

Most business owners have growth in mind. They have sales objectives for their organization, some prospects for services and an idea of where they would like to be at some point. But there is a great difference between being interested in growth and getting ready for it. "Growth Readiness" is about not only wanting and pursuing growth but also about defining a clear vision, developing strategies to get there and driving the organization by successfully implementing those strategies.

Create a Growth Vision. Do you have a clear and written growth vision? A growth vision is a detailed look at your organization at some point in the future based on the assumption that you achieve the growth you are seeking. Ideally it is a look at some finite point in time (3 to 5 years) that answers questions like: if we achieve the size and scope we are seeking, what would our client base be? how many employees would we have? what would our facility look like? what other aspects of the company would have to change and how? and most importantly, what would our numbers (budgeted income and expenses) look like?

Determine Next Steps and Milestones. With a vision clearly in place, you can consider what the steps should be to move in that direction and milestones for progress in 3 months, 6 months and 1 year. This includes a more specific definition of the types of clients and projects you want, identification of likely sources for new business and referrals, and some true measures of profit center profitability, marketing activity and sales results. This should become part of your regular management process and something that gets shared with the entire organization.

Execute Your Sales Process with a Better Story. In order to move more aggressively and directly towards your growth vision, it is essential to pursue your sales process with the attention and structure it deserves. It is equally important to hone in on your referral network by identifying good potential referral sources and developing their interest in and knowledge of your products and services. Most importantly, your networking and marketing activity must be based on your company's unique and compelling story which highlights the ways you help customers achieve their objectives and distinguishes you from your competitors. How good is your story? Is it so compelling that your referral sources just can't help but retell it? Does it set you apart from your competition?

This is an excellent time in our economy to be truly pursuing growth opportunities. Are you ready?

Growth Teams Strategies is a professional service company that specializes in helping successful companies seeking growth.