Seek out new ideas. Invite left and right-brained people into your organization to create a complete “brain trust” of skills and competencies. You need both perspectives to invent creative solutions, challenge the status quo, find hidden connections, new models, analyze data for discoveries, and explore parallel industries for new methods. Henry Ford could not have grown faster than everyone else had he not borrowed the division of labor manufacturing line concept from a meat packing plant. Walgreens could not have grown as fast had they not changed their approach to increased convenience instead of big stores, big ticket items. Southwest could not have grown had they not reinvented airline service and the hub-and-spoke approach. Challenge conventional wisdom to solve your customers’ issues and pains with non-traditional approaches.
Ignore distractions. In tandem with new ideas, we must focus! This is the never-ending struggle for entrepreneurs – too many ideas, too little resources. In an increasingly competitive environment, growth comes from being great at one thing at a time. Succeed at one thing that you know customers need. That takes focus – focus on the customer and focus on what you choose to do better than anybody. Use your vision as a filter to keep out distractions. If the activity is not line with your big goals, even if it is a good idea, table it and move on.
Empower through ownership. This is similar to accountability, but slightly different. Inside almost every motivated employee is a frustrated entrepreneur. As we know, entrepreneurs like to build and own their work. They are achievement-oriented and take pride in results. Feed these engines with premium fuel by assigning ownership. Recognition is the number one motivator. You can unleash powerful output by clearly defining roles and responsibilities. Give ownership of a key business metrics. Then give that individual or team the autonomy and authority to drive that revenue past the forecast!
Neutralize negativity. There is no such thing as "try", there is only "do". That’s the attitude of a sustainable growth company. The question is never, "Are we going to make it?" The question is "What do you need to make it" and the answer is, "Here's how we can." But be realistic. Most growth companies don’t grow quickly without sustaining some damage. Consider how to avoid road blocks and road bumps along the way.
Passion overall. If you’re motivated and excited about what you are doing, people will follow and your organization will grow. This may be the most important element because it is the true spirit behind growth.
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Erica Olsen is VP of Marketing for M3 Planning, which helps companies build market-focused cultures through customer-driven strategic planning, empirical market research, and measurable marketing approaches. Her company launched MyStrategicPlan.com, a web-based strategic planning site for small and medium businesses.
