In one of our most popular business workshops, we talk about achieving ‘step change growth’ rather than the incremental growth that many firms settle for. The process we share and the thinking needed to reach that level really enthuses the audience. As a result, we have seen many clients achieve growth they never thought possible. Growth of 25%, 30%, 50% and even 100% has been achieved by clients who were once content with simply ‘doing a bit better’.

Growth is every company’s goal, but not all achieve it or sustain it. It is worth understanding the traits of the businesses and the leaders who, with our help, have reached that higher level of growth.

Incremental growth is common. Around 75% of businesses in a recent survey said they had expanded, yet only a quarter of those achieved the high growth level we talk about – a minimum of double-digit top-line growth. Anything below double-digit, in our book, is simply ‘doing a bit better’.

The difference has less to do with market conditions or budgets and more to do with how leaders and their people operate. Growth gathers pace when everyone, alongside their leaders, is aligned in their thinking, encouraged to deliver and working as one team across functions – avoiding the dreaded ‘working in silos’ scenario.

There are several things to think about that can help you on your way to high growth:

• There must be cohesion across the organisation, with all disciplines aligned to shared goals and clear on their responsibilities. This means alignment between the leader, sales, marketing, operations and finance in terms of what needs to be done and how each plays their part. Meetings that bring functional leaders together, open sharing of performance metrics and genuine cross-functional collaboration are all vital.
• Businesses that work in silos create conflict around priorities, reduce efficiency and slow down key decisions. All of this puts the brakes on growth.
• The business leader must communicate and work closely with their team, particularly functional leaders. The leader should be seen as part of the team and a partner in reaching high growth targets, rather than simply the ‘boss’. Regular communication and shared ownership of goals are powerful drivers of performance.
• Certain leadership traits contribute strongly to high growth outcomes. Praise good performance in public and catch people doing something right. Review strategy often and adjust when needed. Simplify operations wherever possible. Keep marketing fresh and measure the return on investment from marketing activity. Above all, remove silos.

Some actions any business leader can take:

1. Focus on building high-performance teams and empower them to make decisions that deliver on their goals. The right people in the right roles, with the right product or service, support and training, will deliver and reduce the burden on the leader.
2. Understand what AI can do for your business and where it can ease the heavy load to improve efficiency. At the same time, be aware of its limits and make full use of the human talent within your team for creative thinking and new ideas that your competitors may not have considered.
3. Make sure all functions collaborate and communicate regularly. Silos must not exist. Be as serious about collaboration as you are about revenue growth. Share functional targets across the whole group so everyone understands the wider objectives.
4. Know your market and your customer needs in detail, and shape your offer around those needs.
5. Stay strong through setbacks. Not everything will go to plan and there will be moments of disappointment. In those times, your team will look to you for resilience and belief.
6. One principle rises above the rest. Companies grow when they put serving their end customer first. This remains the most reliable route to sustainable growth. Businesses that stay focused on their customers consistently outperform their market and avoid incrementalism.

If you would like to explore what step change growth could look like for your business, I’m happy to have a conversation. Get in touch to start that discussion.  My email address is david.turner@tinderboxbd.com

David Turner

MD Tinderbox and Director of The Growth Experts