Growth by Design NOT by Accident

2018 all Aug 20, 2018

"Nothing in life or business ever stays the same"

If you or your business isn’t evolving, innovating, growing, or reinventing you are in danger of failing.
Change is the one true constant and it’s all around us and it can come in many forms. Merely acknowledging the need for change is not sufficient to provide for successful business outcomes. We all need to be deliberate about the growth of our business if we truly want to succeed. That means having defined systems and processes in place to effectively plan and manage our growth.
The global business landscape is littered with the remains of organisations that rose to great heights (some over many, many years) only to have their fortunes plummet because they were unable to transform themselves as times changed.
Big High Street names such as Woolworths and Blockbuster Video failed to adapt their business models to the advent of new mega shopping malls; big-box retailers and the rise of digital media platforms such as Netflix. Transformation was the imperative they all had missed out on.
For 30 years my work has been all about supporting huge Public Sector organisations to transform themselves, and in my work with smaller businesses it is clear that this is just as important. No industry is immune to waves of change and the need to plot a conscious course.
We’re told that over 50% of businesses fail during the first 5 years and that significantly high levels of failure continue up to and beyond 10 years of your businesses life. Whilst there are a many reasons for this failure rate one of them is most certainly the inability of those smaller businesses to set aside time and energy to really explore their vision for the future in the context of the the world they are operating in; and to focus on whether their current business model is sustainable and future-proofed.
The difference between successful and extinct companies is their recognition and successful execution of the transformative process.
"Embarking on a transformation is more than just deciding to do something different or expanding into adjacent markets. It requires examination, planning, and execution”.
We all need to realise that transformation is not a singular event. Therefore, a one-time makeover will not cut it. Growth through innovation must become part of every Businesses core.
Successful, sustained Businesses are those that are continually transforming themselves, reviewing to ensure that their business model and products are fit-for-purpose and are exactly what their ideal customers need. They make planning their growth path part of their routine business.
They plan for ‘Growth by Design NOT Growth by Accident’!
  • Is your Business evolving as it should?
  • Are you open to the new opportunities?
  • Are you stretching yourself, or coasting?
Until next week,
Karen x
If you’re ready to plan how you are going to scale your business over the next 1-5 years; to become a business owner rather than a self-employed person and take your Business to the next level, why not join us at our September Business Bootcamps: Master Your Business Owner Mindset or The Four Steps to Scaling Your Business.
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