Updated: Mar 6, 2020
Growth Strategy has historically been only available to the elite. Fortune 1000 companies and Private Equity firms hand over hundreds of thousands, if not millions of dollars to pedigreed MBAs at McKinsey, Bain, BCG, and the like.
The thing is there is no reason why every company cannot or should not be doing a Growth Strategy. The reality is Growth Strategy does not need to be something only available to the elite and delivered by pedigreed MBA from high-priced consulting firms in 500-page PowerPoint decks.
The reality is that every company can be strategic about growth and have a Growth Strategy. Better yet, they can do it themselves, leveraging the knowledge already existing in their organization.
At its essence, a Growth Strategy is a documented strategy of where the company plans to focus for growth.
The Growth Strategy should provide focus to the go-to-market [commercial] activities of the business and goals [objectives] to measure performance.
Growth is hard. Research shows that more growth initiatives fail than succeed, yet every company has more ideas than resources. A Growth Strategy, through the process of building it, through the focus it provides, and through the ability to measure performance against the plan helps a company focus on the growth opportunities with the best chance of success and hold the company accountable for the results. If there is no Growth Strategy in place, how do you know if the company hit their number by luck or bluebird or by executing on a focused plan?
Growth Strategy Labs' purpose is to help companies become more strategic about growth, and we are starting with the goal of bringing Growth Strategy to every company that needs or wants one. To provide simple concepts and tools that a company can use to define their growth foundation. To show them how to identify, define, and prioritize their growth options. And most importantly, help them understand the importance of and create a focused Growth Strategy that gives them the best chance for success and hold themselves accountable for executing against the plan.
Join us on our journey as we de-mystify growth strategy and help every company that wants and/or needs to get strategic about growth.