Is Business Growth Good?

There’s an adage in business that states: “If you’re not growing, you’re dying.”  But why is business growth so important?  Is growth good? How do you manage it?

Is Business Growth Important?

In my world of doing business turnarounds, I constantly see mistakes that got the business in trouble in the first place.  Namely:

1. Not enough attention to hiring
2. Thinking that culture is not that critical
3. Not living the values of the culture, every day
4. Executives not getting the coaching and mentoring that they need
5. No clear purpose
6. No clear vision
7. No strategy, or worse, too many complicated strategies
8. No clear roles or responsibilities for the team
9. Poor communication
10. Lack of governance on plans and projects
11. And… a leader who has gone into cost control mode

What are the results?  Growth slows or stops.  Panic ensues.  More cost control measures.  The organization starts to go backwards.  Reverse growth.

How Do You Manage The Growth?

Get a simple plan in place.  One that is focused on growth.

1. Start with the Right People. Hire the right people.  And by the ‘right people’, I mean team members that are aligned with the values and culture that you want to have.
2. Lead with Purpose. Every human being has a purpose, whether they consciously know it or not.  The organization’s purpose (beyond making a profit) will never be achieved unless you are leading with purpose.
3. See the Big Picture. Paint a clear picture of what good looks like.  Where the business is going.  And how, in very simple words, the organization is going to get there. And…keep your action plan to three steps.  Any more than that and confusion will set in.

Is Business Growth Good?

Everyone wants to be on a winning team.  Employees want to be on a team that is safe, secure and prosperous because that equals safety, security, and prosperity for them personally.

Customers want to do business with a winning team because they relate that to reliability, trust, and value.  Shareholders want to invest in a winning team because they will get a higher return that is safe and secure.

So yes, growth IS good.

Robert Murray is a Vancouver, BC based Business Strategy Consultant, partner at Incrementa Consulting Inc., #1 Best Selling Author, and International Keynote Speaker. For further advice, insight and inspiration on how to unlock your inner leader, follow Robert on Twitter, LinkedIn, and Facebook.

The audio version of Bob’s #1 best seller It’s Already Inside is now available on Audible.