Questions you need to know about creating a Business Growth Strategy

If you are running a business, department, team, and doing well at it, odds are you will probably experience growth. Sometimes that growth can kill you. This is an oxymoron, how can growth kill something that is growing and successful? The answer is simple if you are not proactive in managing that growth you might be in for a ride.

The issue with growth is that usually, it’s organic or spontaneous. Even if it is sparked by a well-executed marketing campaign, talent recruitment strategy, or expansion effort, the results are still spontaneous and therefore are a reaction to the execution of something else.

This makes them challenging to manage, in parallel with your current obligation to deliver the best product or service, department, or team. Picture those long days when you have spent countless meetings built to improve internal processes and redefine implementations, yet… for some reason, can’t hit that mark.

You might find yourself asking:

  • Do I have enough resources?
  • Should I increase my maintenance team?
  • Where can I cut cost without sacrificing quality?
  • Will we deliver on time?
  • Is the budget going to stay on the scope?

These are all direct effects of growth and taking charge of your resources, identifying weak points, proactively addressing issues that come with growth before they happen is managing growth. Asking yourself the right questions before the reaction is a reality:

  • If the execution is successful what will happen with this?
  • Do I have the right vendors in place that will provide instant scalability?
  • What can be delegated?
  • What duplicated efforts can be abolished?
  • What will no longer be needed?
  • How can the law of numbers apply?
  • Where can we cut cost?
  • Where can I cut cost without sacrificing quality?
  • Will we deliver on time and on the budget?

Great questions deliver great ideas, and the solutions to those questions are executed by great implementation plans. Take charge and manage your growth efforts or it will kill you.

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