Driving growth is a complex task for entrepreneurs and organization leaders. Some bloggers want you to believe that all you need to do is have a vision, or a plan, or innovate in white space. Sorry, not that simple. Our research has identified 6 critical growth drivers that need to be addressed and balanced.
This is a huge topic, but I’ll keep it short. Here’s the list for your consideration. Just remember, you need to do them all, and keep them all in balance.
- Vision: yes, you do need to know your intended destination as you travel down your road. What future do you envision? If you can’t imagine it, you’ll never build it. Key word: destination.
- Innovation: I mean this in the broadest sense of what are you bringing to the party? Customers want to know, because they already have plenty of chips and salsa; if you aren’t bringing something new, you should stay home. It could be a new technology, a new style, a new business model, a new value proposition, a new image. Key word: distinctive.
- Insight: Innovation is not enough. You need to understand your market, and use that understanding. Ash-flavored ice cream is certainly distinctive, but might not be welcome. Key word: relevant.
- Strategy: How are you going to stitch together the Vision, Innovation, and Insight into a commercially-appealing proposition? Books are written on this. I’ll just give the key word: winning.
- Message: You got all of the above? Terrific! Now tell me what it is in 15 seconds or less…in a way that motivates me to learn more and maybe even buy. Key word: powerful.
- Execution: Time to move into the real world. Manage it, build it, communicate it, sell it. Keep all the balls in the air, and if you must drop one, make sure it’s the least important one. Key word: excellence.
That’s everything you need to know to grow explosively. To sustain that growth, you need one more: Resilience. But that’s another story.
What do you think? What would you add or delete?