Growth is a rather popular topic of conversation. Particularly in my field.
Avenues to obtain it. The percentages and values. The expectation and timeframes.
I am always left wondering whether people know or understand their Growth Velocity Capability?
Whether they take the time to determine it before moving forward. Like you would check if you had your Passport before leaving for the Airport.
Growth is a fantastic necessity for Success. It is why we are all in Business. To see what next level we can reach. Always striving to be better than we were yesterday.
Growth is usually also our greatest challenge. It can be just like that extra Jenga piece you shouldn't have touched. Hang your head in you hands kind of whoops. And can potentially be the demise of a successful Organisation.
If we move towards Growth that we cannot fuel or sustain. We recycle our Income or we crash and burn. It is like trying to run a Marathon fuelling your body with only a salad. You have no stamina. Even though you may be strong right out of the gate. Your muscles will start to protest part way through.
Growth Velocity Capability is about moving towards Growth in a manageable, fuelled and sustainable way. So that the fractures, that have the potential to become chasms, do not begin to appear.
There are 3 facets to consider when determining an Organisation's Growth Velocity Capability;
Market - Is Growth being sought from the right Product or Service? Does it solve a problem? Does it align with the Organisations purpose? Does it exceed the normal parameters the Organisation would work within? Does it reflect the Company's foundation or values? Can you create a Market? Will it be leverageable?
Support - Does the Team have available time to facilitate more incoming orders and correspondence? Are effective systems in place that can cope with increased pressure? Does the Team have resources to meet the level of expectation for Client Services? Can the Team proficiently cope with increased outgoings? Can Suppliers and Vendors facilitate an increase in Materials and Production?
Funding - What funds are available to invest in increased quantities of Products or Services? What funds are available to invest in Teams to expand resources? What funds are there to invest in mirroring effective systems? What unallocated funds are there to invest in additional resources? What funds can be invested in Service requirements? In what way can you manage the projected Growth to fund itself?
If Growth is strategized to capitalise on Velocity Capabilities and is scaled by the support and funding available. Goals are not only achievable but sustainable. And will generate the Income to continually invest in Growth. This is ultimate Growth Success.
We must be willing to have the building blocks for Growth before embarking on it's journey. So the whole tower doesn't buckle under the load. Taking the time to answer one question before hurtling forward. Has an exponential affect on a greater return.