Rapid growth may be one of the most overwhelming tasks that a business owner will face. Problems invariably surface at the operational side of the business, affecting the quality of service delivered to the customer. However the real challenge is across an array of areas: infrastructure, operations, personnel, leadership and management, legal, financial and even ownership challenges. Having the right mind-set and being open to new learning and experiences will make a significant difference in being able to overcome the challenges of rapid growth.
1. Developing Insight
Being able to focus on the small details and the big picture simultaneously and knowing when to zoom in or out. Sometimes the key to understanding the big picture is to look at the minutiae such as specific business drivers, or the detail of the attitudes and mind-sets that drive that behaviour both individually and organisationally.
2. Thinking Ahead
Thinking at this level and depth forces you to think both pragmatically and creatively and in doing so perhaps helps to nudge humanity towards a position where long-term thinking is automatic and common instead of difficult and rare.
3. Managing Complexity
This may involve an intricate technical issue, a multifaceted business problem or having to deal with people issues and behaviours. Sometimes it takes technical know-how, systematic thinking and theory, however it always requires the mind-set to be open to learning, understanding and real experience.
4. Understanding the Market
Knowledge of the industry and the market conditions, both locally and globally is key. By not understanding the market, a rapidly growing business could steer away from the traditional S-shaped growth curve and ultimately find itself in a M-shaped position, with sharp highs and lows in terms of growth and performance. Understanding the market will facilitate better conversations and greater value maximising strategies.
5. Connecting the Dots
Problems are wrapped within an organisation’s cultural or corporate setting, which means people, their thinking, attitudes and their behaviour are both the cause and solution. This requires bold thinking that ‘joins the dots’ bringing together ideas, experience and contextual understanding from different disciplines and industries mixing art, science and business to create solutions that sometimes are a little magical.
6. Being Bold
Being bold and courageous in actions and behaviours will accelerate the pace of change. Accelerating the pace of change enables individuals, teams and organisations to achieve goals in time scales they would not have dreamed possible. For some, being bold means taking a high risk strategy, however as humans, being bold is regaining a sense of who we are, being consistently honest and authentic and taking full ownership and responsibility for ourselves both personally and in business. Having such a mind-set provides powerful results and ultimately leads to business success and personal fulfilment.
7. New Ways of Working
Many businesses struggle with the challenges of rapid growth as they stay fixated on traditional organisational structures and lines of communication. Enabling individuals and teams to experience a different way of working, where they can work collaboratively as one integrated team in solving business problems and growing the business together, will increase their talents, skills, efficiency and effectiveness, and creates a culture of shared learning, inspiration, creativity and passion.
New ways of working will drive the need for different systems, processes, lines of communication and behaviours. It also requires engaging individuals and teams at both an intellectual and deep emotional level, where they can truly align behind the vision and values of the business in the most powerful and compelling way to create commitment. Demonstrating a One Team Philosophy aligns the business, team and individual behind common behaviours to deliver superior performance to support a growing business.