If you have been in business for a while – it may be for many years – sometimes you look around you and find things have become stale, even stagnant. Growth seems to elude you and you need to get the edge back. You may be somewhat “stuck in a rut”, you may be a business unit within a larger organization that somehow doesn’t seem to be pulling its weight, or perhaps your business has just become comfortable.
Whatever the reason, re-booting your business takes effort, focus and energy. Plus, if you are to change your approach, your team needs to be on board, which means they have to be part of it and own it. Maintaining the constraint of going from start to finish in a week, we have a method that will get you a plan in place that your own team have devised.
We start by looking at the types of value you deliver today, and assess what in your business is most valuable. Often, overall performance is dragged down by some offerings that are inherently low value. The value may have decayed over time or maybe it was never really there. Either way, one outcome may be to decide to focus on some areas and drop others.
The next step is to look at the important areas and make a growth plan that aligns them. Look at the market characteristics today by defining and segmenting it logically. Consider what you need to grow, then see if your core capabilities are aligned – this may show a non-obvious direction to take. Finally, balance your “today” business with your “growth” plan – define goals for people who lead the business, and then implement the changes.