Growing your business quite often looks enticing, especially when things are humming along great.
For instance, when the market is responding well and on a roll, the knee-jerk reaction is to binge on hiring new people and put new infrastructure in place without a thought to the impact all of this has going forward. It all seems like a great idea at the time.
Among the many questions that need an answer before spending time, energy and money on all of that are:
· Are the systems and processes currently in place agile enough to grow with this?
· How will the culture be impacted by these sudden changes?
· Can you attract and retain the talent necessary to sustain the growth?
· What is the plan if market demand dwindles? (The pandemic brought this dynamic with it.)
Chasing growth can take your eye off of what made you successful in the first place.
The best example here is what is often the first thing cut during a downturn? Marketing. The very thing the market needs in the moment of downturn is to hear from you. Taking away visibility instead of simply changing your messaging makes you invisible, further adding to decreasing numbers.
When considering growth, you need a strategic-cultural interplay framework to build off of. The extensive post-pandemic research conducted by Gallup has brought this to light. Strategy that incorporates culture to grow with it will more effectively identify blind spots that can inhibit sustained growth.
You can avoid burnout of team members, attrition, decreased customer satisfaction, and other dynamics that undermine growth.
Pacing the growth is critical and knowing how to achieve the desired targets is a team effort, not something the business owner puts forward all on their own.
Sustainable growth does not grow fast and put out the ensuing fires later. The short burst of speed does not pay off.
What you want to focus on instead is the measured growth over a sustained period of time that leads to better ROI.
Good strategy not only brings culture along with it, but also looks for constraints to growth so they are pro-actively handled. Good strategy identifies and addresses the bottlenecks that can show up in training, systems, processes, culture and leadership before they become the killer of the growth.
Good strategy encompasses the mindset of the people in the organization – remembering that your team will reflect the blindspots in mindset you possess.
At the end of the day, growth is a multi-faceted endeavor.
How are you leading through the growth?
If you are ready to accelerate your company’s growth in a sustainable manner, consider joining us for the next Coffee With Coach Lora where we will show you how to make culture a strategic partner that drives performance and growth.
We add a powerful and unique approach to the work with equine assisted coaching that is proven to be more effective than conventional methods.
You can experience this as well as fuel your growth at this one-of-a-kind event.
Learn more here…
*Resource: March-April 2024 Harvard Business Review
*Resource: Culture Shock by Jim Clifton, Jim Harter
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