Growth for growth’s sake is pointless

Do your ambitions exceed your current organisational capability?

It can be easy to fall into the mindset that anything bigger must be better. As business leaders, we can often put pressure on ourselves to constantly push for growth, as this seems like the ultimate and expected target. However, I would like to suggest that being the best, rather than the biggest, is not only more achievable, but a far more fulfilling and sustainable solution.

Growth obsession vs. Quality commitment

During the time I was running my own SMEs, I was guilty of judging success numerically. Obsessing over metrics such as turnover seemed most important. Now, I realise that this was not only frustrating me at the time, but also shaping the approach of the companies I was leading. I did not consider the impact these organisations were having on their employees, clients and the wider community. Had I looked a little closer, I would have found that these positives should be defining my businesses and driving the development I desired.

You may argue that serving your various stakeholders is a worthy mission, but the overall goal of a company is to make money and progress accordingly. You are correct, but what many do not realise is that by providing a quality product/service and committing to improvement, you make sustainable growth far more likely. Your stakeholder groups have many businesses to select from, if yours offers the best solution, they will choose you. It’s a win-win situation.

Get talking

Use your position as leader to talk to all the relevant people across your organisation. As weeks pass and the day-to-day challenges consume your calendar, it can be easy to lose sight of the wider picture. Dive deep into the context behind the numbers to understand how people view current processes and where stimulation might be required. With employees this might constitute a chat over a cup of tea, with your clients this could take the form of a survey.

This communication has the twin benefits of providing you with greater detail to consider where improvements could be made and also demonstrating your engagement with the business and its stakeholders. You cannot move forward without proper comprehension of what you already have.

Becoming the best

It may be aspiration of some businesses to become a dominant player in their market. This is an admirable goal, but without sufficient resources can be very difficult to achieve. There will most likely be someone who can produce more products, cater to more people and sell these things cheaper than you can. Therefore, you need to find another way to differentiate.

Commit to improving your product/service so that it is better than your competitors. Identify the key benefits and features of your offering that make it desirable. How could you improve these so they are synonymous with your brand? What other developments could you make to diversify the appeal? If you have a premium product/service you will put distance between you and your competitors, whilst also allowing you to charge more. Investment in this quality is well worth it.

Get better, then bigger

Growth for growth’s sake can often be pointless or even damaging for a business. Without the proper people, processes and systems in place increasing your operations is not sustainable. You will struggle with increased demand. Improving your current organisation by considering what is strong and where change is required is the best way to stimulate growth. It may seem like the slower path, but this will prepare your company for continued success. You have to get better before you can get bigger.