Each organization is striving for next-level growth from its present status. The next level of growth could be
1. An exponential increase in Turnover
2. Getting into new market/customer
3. Getting into new product line/services
Factors for next-level growth
Potential + Strategy + Leadership mindset + Practices = Next Level Growth
Potential:
the potential is a measure of the market size for the product or service, the unique value proposition of the product or service to the customer and the evergoing demand for the product or service not only in the existing customer or in exiting demography, but scalable to new customers and demographics
In my opinion, all the business is highly potential, given the worldwide customer base unless the product/service is made obsolete through technology.
Strategy:
A strategy is nothing but clarity on the resources, competency requirement, and action plan to get into next level growth. It is more about internal organizational capability development to cater to higher level growth. The action plan must answer the typical questions as below.
1. Resources required in terms of the fund, equipment, infrastructure, and people
2. Plan to reach out to new customers/ developing new product or services
3. Personal and organizational competency required to manage the challenges in the growth phase
Leadership Mindset:
This aspect is one of the prerequisites for any organization that looks for next-level growth. Mainly, the business head or CEO's mindset is essential. When I refer to mentality, it is more about the aspiration and belief of the business head is vital. For example, in one of the client operations, the service they offer is scalable to the global level due to their quality and price point. However, the founder is not interested in going for international reach as he believed that his organization is capable of serving only the local market. Even though he is very passionate about his product and service, his contentedness and beliefs never allowed him to grow exponentially.
Practices and Action:
Even though the organization is highly potential, aspiration, and strategy, if the methods and actions are not in line with the plan, the organization will never get into next level growth. While aspiring for next-level growth, the organization should learn to give up some of the legacy practices and to learn new practices.
To sum up,
when the leader is aspirational, believed in the potential of the product or service given the global market, if the organization draws the master plan and adapts itself to change to new practices and action, NEXT LEVEL growth is always possible one.
