08/21/2022
Don’t Leave Your Growth Strategy to LUCK!
Strategy is foundational to any business desiring consistent growth, regardless of the current economic winds. Of course, some businesses can grow with a lack of strategy, but it’s normally from being in the right place at the right time or at a time when a “high tide” lifts all boats. Both situations are more luck than purpose, and both are typically short-lived.
An intentional growth strategy includes a combination of industry knowledge, discipline, and dedicated leadership, including the skill and ability to communicate the growth strategy and each team member’s role in that strategy. (See North Star Strategy from our white paper on the MyGrowthGuru.com website) https://lnkd.in/gxta7Dqa
Here are a few questions to ask yourself about your current growth strategy:
1. Is our company outperforming our competition?
2. Is our competitive advantage positional or because of special capabilities?
3. Where are we at in the life cycle of our industry?
4. Does our strategy put us ahead of the trends?
5. Do we use an outside source to question our assumptions about our business and the potential for bias?
6. Have we, in the last year, shared with all team members our strategy, focus, and future?
7. Is every person on the leadership team fully invested in our direction and current strategy?
8. Do we have a list of behaviors or beliefs that guide and direct our success and/or strategy? And do we refer to those behaviors weekly? Finally, do we hold everyone accountable for those behaviors and beliefs?
9. Do we have an operation plan directly focused on our strategy?
10. Do we measure our strategy’s success on a weekly basis?
If you reviewed these questions and could not answer them, maybe it’s time to do some work. Don’t leave your growth to luck. Luck, like lightning, rarely strikes in the same place twice. If you would like one of our Gurus to review your strategy or lack thereof, please give us a call or send us an email. Our first 90 minutes of consulting are free!