Don’t be a hare. Don’t be a tortoise. Be a hare with the mind of a tortoise.
When your organization is experiencing robust growth, there are good reasons to celebrate. At the same time, every seasoned executive understands that even an uptick in sales, services or production can create negative consequences when that growth isn’t effectively managed. These are four indispensable tips I have discovered for more sustainable growth.
You can have the best ideas in the world, but if you don’t think about things systematically along the way, you’re going to end up squandering a lot of that potential. In fact, you might end up turning your own growth against you, damaging your reputation or drying up your much-needed cash flow. Robust growth is cause for celebration, but it also carries with it a string of expectations capable of sinking any business that isn’t prepared to harness and direct the rising demand.
Your robust growth is made possible by the systems you have in place. However, those systems are made possible by people, which is why your team members should be your first priority when managing new growth.
Successful leaders approach new growth with a combination of effectiveness and efficiency. The optimal ratio for your organization will vary a lot depending on your industry and overall vision. For example, tech companies can sometimes survive with less efficiency in their processes because the demand for innovation and effectiveness within the industry is front and center. Likewise, a company that is in the middle of a purposeful expansion of their sales and services will need to prioritize effectiveness over efficiency, while an organization that is preparing for a larger expense down the line may need to do the opposite.
Employee departures, either for the short term or the long term, are an inevitable part of doing business in the 21st century, which is why successful leaders establish succession at every level of their organization. As a result, they win back a bit of their efficiency and make all future growth more sustainable.
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