He outlined three characteristics that are present when a business is in the Growth stage. The leader:
- starts saying "no" to business
- is more concerned about marketing and less about sales
- begins leveraging people and resources
- make decisions quickly and listen to your gut
- employ stages and gates to protect the business
- limit the amount of time researching and deliberating
In these strategies, we keep the business swiftly moving and keep the momentum of growth, take advantage of opportunities that can generate greater success and take small risks toward that success without sinking too many resources into the unproven.
A mind shift necessarily occurs for the leader when the company is in growth. As our focus shifts to building the company, there is a "letting go" of some old strategies and practices that must occur. However, as we go forward, we need to keep some of what we were doing because these are the features that indeed brought us to our success. The process is akin to adding a new ingredient to the mix rather than discarding old ones.
The kernels of wisdom shared at this meeting were vast, but all generally held the themes that there is a right action for the right time. Additionally, what we learn from the experiences we gain taking our business through Ideation, Valley of Death, and Growth can teach and prepare us to make bigger, better, and more efficient decisions leading to greater success for ourselves and our business.
Nancy Schill is the founder of Executive Intelligent Coaching, a company that works alongside business leaders and their teams in the growth stage of business to achieve the vision, strengthen influence and employ an inspiring culture. She can be reached at nschill AT executiveintelligentcoaching DOT com