The anatomy of accelerating growth
The anatomy of accelerating growth
The anatomy of accelerating growth
The anatomy of accelerating growth
The anatomy of accelerating growth
The reason why only a few companies achieve accelerating growth is simply that most business leaders are unaware or unwilling to do what it takes to achieve significant business progress.
We humans tend to become more infatuated with the reward than the effort. We want the medal around our neck. But we struggle with the willingness to carry out the necessary preparation.
A weak business growth rarely stems from poor effort from the company's employees. Inefficiency in production or a lack of hunger among salespeople can only move the needle a few percentage points.
Instead, it is the company's foundation for accelerating growth that is deficient. The company's business platform and brand identity must be able to break through to new customers, new geographic markets, new product areas, and ultimately even completely new product categories. If your company's business model and leadership culture are not visionary, dynamic, and innovative, you will struggle to attract the most talented employees and develop future "must-have" products.
If your company's products are not packed with customer benefits, they are obviously difficult to market, sell, and get others to recommend.
If your company's brand is not unique and attractive, it is more than challenging to conquer new customers, markets, and product categories. After all, no one is lining up to introduce or buy something that is unknown, uncertain, and similar to everything else.
*Acceleration means growth that is significantly higher than the average growth in your company's industry
If you want to accelerate your company's growth, you need to get started on creating an extraordinary business platform and building a strong brand.
It is a demanding task, but in return, you have begun the effort required to achieve significant results.
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Strategy process:
The 5 Breakthroughs
The 5 Breakthroughs
I call my strategy process "The 5 Breakthroughs" because it simply focuses on breaking through to the five moments that constitute the prerequisites and foundation for accelerating a company's growth.
In far too many strategy processes, a more conservative approach is taken to developing a new strategy. Conservatism is about avoiding major changes and preserving the company's platform and identity with the clear purpose of maintaining current business success.
It is a short-sighted, fear-driven, and naive approach to strategy, acting as if the same economic results can be achieved in the future by doing everything one is currently doing, just slightly better every day.
In "The 5 Breakthroughs", we take a more creative approach to strategy, constantly pursuing openness, vital insights, unrealized potential, and the development of the company's business platform and brand identity that can accelerate its growth.
In the creative approach to strategy, we surf the wave of changes in technology, culture, competitive landscape, and customer needs. The changes serve as our creative brief and a crucial momentum for growth.
1. Investigation
We conduct a comprehensive analysis of the market landscape, competitive environment, and emerging trends to identify potential opportunities for growth and transformation. We need to break through to new vital insights that will guide our strategic decisions and help us differentiate ourselves from the competition.
2. Liberation
It's time to face the reality of our company's current situation, including our performance, brand strength, and competitiveness. We must acknowledge that change and development are necessary to create growth. To do so, we need to break free from "business as usual" and adopt a transformative mindset. Let's focus our energy and positivity towards the future.
3. Imagination
Let's take a fresh perspective on our company's core and potential. We must consider the current times and future changes to create a new collective outlook on our development. By doing so, we can unlock opportunities to create a more attractive brand and achieve strong business growth. Let's design a strategy to unleash our potential in the most effective way.
4. Revolution
It's time to redesign our company's fundamental platform to reflect the potential we have. We need to update our vision, mission, and purpose, as well as innovate everything from product programs to culture. This will strengthen the foundation to accelerate growth and bring us to new levels of success.
5. Differentiation
To stand out in the market, we need to develop a unique brand identity and activation that resonates with our audience. This will help us to conquer new customers and markets and expand into new product categories. By breaking through to differentiation, we can accelerate our company's growth and become a major player in our industry.
Estimate Business Case
Estimate Business Case
There is an obvious time delay between cause and effect when it comes to business transformation.
You need to ensure mental readiness in the leadership team, establish vital insights, create a new vision, develop a new business platform, and build a unique, strong brand before you can expect to achieve an acceleration of the company's business growth.
Brand transformation takes time, a significant amount of managerial resources, and financial investments.
Short-term pressure on earnings and fear of failure are always the enemy in the more long-term strategic work.
Find motivation to invest in the future by thinking about the alternative. Maintaining the current strategy, business platform, and brand identity may feel safe and secure in the short term, but it is only a secure path to stagnation, decline, collapse, and lost growth potential. It is only a matter of time before significant changes in the market erode your company's relevance and competitiveness. It is no use standing still as a company when everything else is moving at high speed.
Business transformation is, in reality, a simple investment calculation.
Investment
- → Cost of conducting strategy process with the leadership team
- → Innovation of the business platform
- → Development of a long-term growth strategy
- → Development of brand identity, including a new visual identity
- → Increase in marketing budget to build a strong brand
- → Organizational changes and upgrades
- → Improvement of products and other parts of the business model
- → Onboarding of more managerial resources and more organizational capacity
Kapitalisering
- → Alignment, ownership, and increased motivation in the leadership team and organization during the development process
- → Initial small increase in growth based on immediate insights and improvements across the board
- → Increased revenue to new and existing customers and conquest of new geographic markets based on the strong brand
- → Successful innovation and launch of new profitable business activities and models with the strong brand as an inspiration and lever
The truth is that we tend to underestimate what it takes to succeed in business transformation.
But we also underestimate the short-term effect on company performance of the immediate improvements in the company and the increased motivation among leaders and employees. And more than anything else, we underestimate the long-term business impact in the form of expansion into new customer segments, geographic markets, and product areas.
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Henrik Hyldgaard
Creating Breakthrough Brands
Henrik Hyldgaard
Creating Breakthrough Brands