THE 4 DIMENSIONS
FOR EFFICIENT GROWTH
A company is built by its people. It is therefore essential to start a growth journey by securing a high-performing team – with growth leadership and the right core competences.
There are many dimensions relevant when establishing an outstanding team:
A leadership with scaleup experience, and the right fit for the phase the company is in.
Balance between structure and giving the team members the power of self-leadership
The right attitude and culture to drive growth
Comprehensive communication to spread the company purpose and goals
A dynamic approach to developing the organization, roles and responsibilities and ways of co-operation
Strategic recruiting and on-boarding programs to quickly get new employees up to speed, while simultaneously maintaining company culture and core purpose
Foster a culture of constant learning and creating an innovative environment
A clear strategy, vision and purpose is the foundation for a successful growth platform. Such clarity supports forward momentum and encourages initiatives within the organization. It also secures alignment among owners, the board, and management on how to scale up the company, timelines and resources needed.
There are several dimensions when creating a strategy, and we suggest that such work is a continuous process where details and clarity are developed over time:
Creating a clear big picture to guide the growth journey
Forming a framework for the management team to support the work of connecting the strategy to everyday operations allowing for fast and agile decision making
Developing a scalable business model
Truly understanding the needs and behaviour of customers
Maintaining long- and short-term goals, measured by meaningful growth metrics
Secure future innovations by encouraging a broad external influence, identification of new opportunities, riding waves, and exploring new innovations and technologies
Comprehensive communication of the strategy to employees, owners, the board – again, and again, and again
Growth is all about focused execution. When a company´s growth is dependent upon external capital it has to prioritize market penetration to prove its right to exist. One can postpone development of structures and processes for a while, but eventually it will hold the company back.
The ability to execute is highly connected to the maturity of the company. Disorder and frustration is common, when a company is speeding into its next growth phase, without stabilizing the former.
Creating tools for steering everyday work in line with the strategy
Prioritizing and securing resources in line with the strategic goals
Developing efficient routines for meetings and forums for decision making. It is all about communication and clarity
Consolidating work and experiences into structured tools and processes - using established best practices as guidance
Digitalizing and automating business processes, step by step, to ensure effectiveness, efficiency and quality
Securing focus on customer satisfaction and quality during accelerated growth
Actively secure inflow of feedback from customer, partners, and industry influencers to feed the companies decision making and to give you real time performance data
All companies have to keep their finances in order, but for a growing company this is even more critical. To consider:
Securing long term funding, while at the same time securing long-term owner fit for the company. Owners´ alignment around strategy, and business planning is essential. It is disruptive, and can be highly costly, to remedy a non-functional owner constellation
Evaluating the best form of financing over time – venture capital, debt, private equity, public listing, etc. Keep the long-term perspective
Analyzing consequences on future funding, when making important strategic decisions – patent applications, partnership agreements, exclusivity rights etc
Securing compliance with legal and regulatory requirements.
Securing a controlling function that provides relevant material for decision making – customer and product profitability, complete costs for projects, analysis of effects on common costs due to changes in volumes, product mix, etc
Maintaining a company risk analysis and plans for handling critical situations
Keeping meticulous control of cashflow. It is not unheard of that profitable growth companies default due to liquidity problems. Make cash controlling an everyday focus for the whole company – fast invoicing routines, inventory level control, refine forecasting for production planning, negotiate payment terms with suppliers, etc