Scaling Up: How to Implement Effective Business Growth Models
Effectively scaling up requires more than just making a firm commitment to yourself and your employees. For business leaders, it also requires filling upper management and core staff positions with broad, complementary skills in a highly collaborative environment. Systems must be built around core competencies, and it must be clear to all involved how the chosen business growth models fit with the company’s competitive strengths.
If any one of these factors is temporarily lacking, that’s okay; but it shows where you likely need outside assistance to fill in the gaps and start achieving higher growth tiers.
Choosing Scalable Business Growth Models
Growth is necessary for businesses, but locking into a growth mindset with tunnel vision often only pits long-term goals at odds with short-term realities.
What’s needed are appropriate business growth models that set realistic, but ambitious goals. Several time-tested growth models worth considering include:
- Market Penetration—Identifying where you provide unique value to your market and how you can capture greater market share.
- Product Line Expansion—Developing product variations or new goods and services designed to expand marketability using existing infrastructure.
- Audience Expansion—Determining new market needs and finding additional infrastructure to meet them.
- Diversification—Mature companies with a solid footing in their traditional market may consider experimenting with completely new products in wholly unique markets.
Ultimately, whichever of these business growth models you feel will lead you to efficiently increase revenue is the right decision for your business.
Selecting the Most Appropriate Business Growth Model
There’s more than one way to turn a profit – but depending on your business and market niche, some business growth models will be more or less conducive to your company’s desire to scale up. No matter how ambitious stakeholders might be, scaling must be done pragmatically, and it may require leadership training aimed at implementing the most effective organizational changes.
At AMB Performance Group, we bring decades of experience facilitating company growth to SMB leaders who might not otherwise consider professional business coaching services within reach. Contact us today, and ask about our 300% ROI guarantee within the first year.