Accelerating Strategic Growth
By Margaret Reynolds
Escape the powerful forces of “business gravity” and rocket to the next level.
Escape velocity is the speed at which an object must travel to defy the forces of earth’s gravity.
Gravity is a powerful force that is difficult to escape. Equally powerful are the forces of “business
gravity” that hold us back from experiencing desired growth.
Escaping business gravity is not a casual endeavor. It requires strategic identification of your
opportunities, an alignment of your business to capitalize on them and a dedicated effort to see it
through. Here are some suggestions on how to defy your business gravity and achieve growth.
1 Challenge Traditional Thinking and the Status Quo
What gets in the way of growth? Some of the most common limitations are those we impose on
ourselves; such as not spending enough time on strategic thinking, not adequately resourcing new
initiatives and continuing to work by habit or industry standard instead of challenging the status quo
and asking what could be better?
Does “me-too-ness” reign in your industry? If so, you can orchestrate the breakthrough to the next
great idea: the Swiffer of mops or luggage with wheels.
2 Practice “Outside-In” Thinking
The best ideas come from the marketplace. Look to your customers to learn more about unmet
needs and opportunities to provide better service. Growth opportunities occur at the intersection of
your company’s capabilities and market needs.
3 Have a Simple, Powerful Focus
Strategy-and growth strategy in particular is a choice. It is not only what you will do, but it is what
you won’t do.
The goal is not to try everything, but to do what you are most capable of doing in a way that sets you
apart from your competition. Too many companies invest way too much money being just like their
competitors – offering what they do and trying to one-up them. But next year the competitor
emulates them and a never-ending cycle of escalating investment with no real market differentiation
creates more cost and less profit.
Figure out what will set you apart and then focus your resources on delivering it with excellence.
4 Be Clear About Who Your Target Customer Is
Not all customers are created equally. There must be a match between what you offer and what
they want in order for there to be a satisfied and loyal relationship. Companies spend a lot of effort
trying to be all things to all people, but usually that means they are mediocre to many.
Be clear about your primary target. Walk through an airport and observe the boarding areas: United
is mostly business travelers and a few families, while Southwest Airlines is full of families with
strollers (and they have special boarding policies for them) with a fair number of business travelers
who find the fares appealing enough to trade off first class upgrades.
Many times a clear value proposition designed for one audience can also be an excellent product
appeal to secondary audiences. So stay focused on your target.
5 Define How You Want Your Business to Perform
Before your company can execute the direction, employees must completely understand it and what
is expected of them. Telling them where the company is going is not enough.
Employees and other stakeholders need to know what will be different, what they specifically will be
expected to do and how they will be held accountable. Projects, dates and measures all need to be
spelled out in detail and receive the proper resources and support.
One of the most common mistakes is to communicate this well – but only once. Remember that
when people are expected to change, they need constant reminders, reinforcement, and
encouragement.
6 Growth Strategy Must Be Monitored, Reinforced,
Reviewed, and Refined
In order to be successful, you must be willing to adapt the plan to changes in the marketplace. The
plan contains many assumptions; most of them will be accurate, but some may not be. So be
prepared to re-evaluate when necessary, and adjust the plan accordingly.
Escape velocity growth is achievable if you look at your business creatively through a marketplace
“lens,” focus your business on the opportunities best suited to your company and remain dedicated
to implementing your strategy. Peter Drucker once said, “Every single pressing social and global
issue of our time is a business opportunity.”
Of the many issues we face today, which one presents your opportunity?