I’m not speaking of staff growth or adding locations or moving to a larger office or even adding a new product necessarily. When I speak of “growth” I’m speaking about revenue growth. And when I ask if your organization is “poised for growth” I’m not asking about a desire to grow but rather a plan for, and commitment to, finding and closing significant new sources of revenue and profit. In order to demonstrate this commitment your organization should employ certain fundamental business approaches and practices that foster growth, it should develop the tools for growth and it should operate within a culture committed to the development and use of these tools and to the critical business approaches and practices.
If you wish to do a diagnostic assessment of your organizations “poise” or readiness for growth let’s first consider your culture. The essential cultural components absolutely necessary for a growth mindset are:
A proactive plan: a strategic sales and marketing plan to guide investments of time and money
Identity: employees must know whom to serve (co-workers and external customers alike), what is valued and how to serve (what specifically is the value you deliver to clients) in order to maximize their performance and contributions to their organization.
Incentives and compensation that reward growth related activities and results
Employee skills that lead to growth which include; prospecting (for deals), communication, need assessment/interviewing, negotiation and time management skills
On-going training and professional development to maintain cutting-edge levels of knowledge and confidence
Collaboration and creativity to identify and capitalize on new market opportunities
What are the essential tools that must be present in your organization to achieve planned revenue and profit growth? These include:
Goals and objectives for each employee that are specific, measurable, attainable, realistic and timely (S.M.A.R.T.) so that employees stay focused on growth-related activities and initiatives
Reports and documentation tools (sales pipelines, strategic account reviews for existing customers, employee performance reviews and customer feedback/satisfaction surveys) that monitor progress and growth-related goal achievement so that your organization can stay on task, on plan and relevant in the market place
Marketing materials (sales brochures, product sheets, web site, letters of recommendation, client success stories and testimonials) that resonate with your business development targets (both new and existing customers) and compel them to engage your business development staff
Targeted sales prospect and key customer lists so that your business development team expends their efforts on bringing in profitable, long-term customers and expanding your business within your key customer organizations
Products that reflect what the market wants, needs and are willing to buy
Pricing that makes it easy for customers to buy from you
Finally, certain key business practices must be implemented and utilized to implement a growth strategy and to maintain a pattern of successful growth. These include:
Consistent and deliberate focus and adherence to your identity so that time and resources are not wasted going down too many paths at once
Customer feedback mechanisms including satisfaction surveys and personal interviews with customers to provide the insight you will need to maintain market relevance, recognize opportunity and maintain a thoughtful, planned approach to growth and profitability
Weekly, monthly, quarterly and annual accountability and oversight to keep each team member moving in the right direction by giving them the best opportunity to meet their individual goals and objectives through timely feedback and assistance
Life-long learning and professional development for employees so that they are equipped with superior knowledge of their products, their competitors, their customers business and the value delivered through your organization
Service-centric orientation that guides daily activities with co-workers, strategic partners, prospects and customers alike.
If this looks like your organization, you probably did not need to read this article. However, if like most medium and small-sized businesses that have a desire for growth but have yet to satiate that desire, perhaps this article has helped you identify some cultural, resource and/or operational gaps and areas for improvement. If so, then I have accomplished my objective in leading you to the starting point of a path of expanded profitability.
Paul Van der Voort is an organizational improvement advisor and Vice President with XMi Technology, an XMi company, and may be contacted at: (615) 403-0809, xmi.us.com or
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