Barriers to growth can also arise from failures within the organisation. These could include failure to communicate an inspiring vision that resonates with the target market and staff who will lead or implement growth; failure to involve employees in determining and overcoming pain points that are barriers to efficiency; and failure to automate and digitise simple, repetitive processes to improve the consistency of outcomes, maximise economies of scale and improve access to goods and services that can enhance the customer experience.
“Most things are in your control, especially the pace of growth,” says Howard. “Successful outcomes can be achieved through robust financial modelling and realistic targets, assessing risk and opportunities equally, and being prepared to pause or pivot as either emerge.”
As the business starts to grow rapidly, key indicators must be monitored to ensure that the growth can be sustained. This includes communicating with customers to ensure customer satisfaction isn’t changing, monitoring cash flow against the plan, and monitoring the quality of product or delivery of service for consistency.
“Feedback from the team, morale, pressure, stress levels, absenteeism, retention rates are also indicators for the sustainability of growth,” says Holmes. “Any changes to the measured data should be brought to the weekly or monthly management and growth-planning meetings, and considered and addressed, with new actions and plans added to the overall plan and managed in the same way.”