Quick spoiler: Keep up with the competition or get left behind!
It is fair to say that there are few principles that are more deeply embedded within the overarching ethos and ideology of business and capitalism than growth. The nature and consequences of growth-centric thinking have been much discussed over the centuries, but for our purposes, we care about one simple question – how can we enhance it?
"Growth is often a zero-sum game."
This is a question that’s as deceptively simple as it is deeply complicated. After all, many of the easiest or most attractive ways of stimulating growth require more capital being spent in one capacity or another. However, if you are a startup, or don’t have the resources of a huge company, you need to find a way to grow without simply throwing money at the problem. These strategies can help you rethink and, thus, re-stimulate the growth process.
Target Your Sales Pitch
To begin with, you are going to want to do more to target your overall sales pitch. This is due in no small part to the fact that you need to make sure that you aren’t wasting money on target audiences or resources which aren’t going to help you accelerate growth.
This also means directly targeting clients in terms of specific products in which they may be interested. If you are a clothing company and are looking to sell to an outlet that caters specifically to moms, you don’t need to fill them in on every last clothing option you offer for men, women, and children. Stick to your mom and child inventory with a more targeted sales pitch, and your chances for sales and growth should be much improved.
Speed Is Key
Growth is often a zero-sum game. That means snagging territory before others get there, which means improving your company’s overall speed when it comes to things such as processing appointments and orders.
Avoid Organisational Rigidity
When making a stretch run, organisational rigidity is your enemy. Stimulating growth means growing and embracing new ideas, so don’t be afraid to innovate or deviate from “the old way” of doing business.
With these tips, you’ll be able to grow your business more strategically.