Executives at small- and mid-sized companies should internalize and live by three core principles prior to developing and implementing a plan to scale the company.
Life isn’t a one game scenario, and everyone is continuously learning how to win the next game. Each quarter is a short game; each year is a longer game; senior executives attempting to grow or turnaround businesses will have to play these short and long games several times to achieve their goals. The board, fellow leaders, and employees are all watching and learning about the executive’s problem-solving style, successes, and failures each time (s)he plays. So, how will (s)he define growth or turnaround strategy? How will (s)he set and expand growth drivers? How will (s)he prove to a skeptical audience that proposed plans will work the first time? In the many games an executive plays, (s)he will lose a few – so, how will one prove to a skeptical audience that proposed plans are effective after losing once or twice?
Senior executives need well-substantiated methods to demonstrate the effectiveness of proposed plans and strong systems to execute on them. Our Growth Framework requires three intangible, underlying principles to be adopted by the company’s executives.
The Growth Framework requires three intangible, underlying principles to be adopted by the company’s executives and thought leaders.
…because borrowing tactics from successful companies does not create a winning formula. Individual ideas, however bright, won’t help grow a company sustainably, unless they are congruous with all the other efforts and ideas at the company. All ideas and concepts have to fit seamlessly into an ecosystem where they can function in a symbiotic manner.
… against teams with even better talent, but a sub-par system. What is a system? It is a predefined, agreed-upon, method of play that every player on the team internalizes and is committed to executing on. Great players can win a few games for the team. But seasons are not won by individuals; teams with strong systems and plays are more effective in multi-game scenarios.
… because every problem is unique:
- There are different people with different experiences involved
- The history of every growth or turnaround scenario is unique
- Maturity of companies and industries are never the same
- Amount of information available to solve problems at hand varies
So, solve every problem at its merit. Carbon-copying solutions from seemingly similar companies rarely work. This means, you need a team of problem solvers. A few key leaders who can solve problems at their merit in a comprehensive manner is a pre-requisite to begin any sort of accelerated growth or turnaround effort. Without a critical mass of such players, historic precedence will win, and analytical voices will get drowned out.
In summary, three simple concepts – 1) harmony between every idea and the overall plan, 2) development of an effective system without dependence on individuals, and 3) tailoring of every single idea to your environment and needs – form the foundational philosophy for a growth framework that is essential for all high growth companies to leverage.