Growth Playbook 1: Understanding Business Growth

Business growth, a term often heard in the corridors of the corporate world, is much more than a buzzword. It is a multi-dimensional concept that signifies the expansion and progress of a business which a leadership team of a business requires both the strategy and the mindset to deliver. It encompasses an increase in revenue, expansion of customer base, introduction of new products or services, and enhancement in market share.

Business growth is not confined to large corporations alone. It is equally crucial for businesses of all sizes, from startups to small and medium enterprises. The importance of business growth lies in its ability to create more opportunities, enhance profitability, attract investment, and create jobs, thereby contributing to the economy.

Understanding and strategising for business growth is, therefore, a critical aspect of business management and leadership. It sets the direction for the business and acts as a roadmap for achieving long-term success and sustainability.

SELF ASSESSMENT EXERCISE:

On a scale of 1 to 5, with 1 being the lowest and 5 the highest, take a moment to reflect on your business growth mindset. This self-assessment can provide valuable insights into your readiness to embrace and drive business expansion. 

Further to this, if your score is lower than 3, can you add a note as to why you feel the score isn’t higher, or what would help you move forward? Feel free to leave this as a comment for us to open up a dialogue on your specific business needs.