Are you smart aggressive about creating new growth, when things are still going well?
1. When things are still going well, you're growing into a no-growth zone.
Your company's activities resides with your customers. You focus intensely on their problems. You grow your company and assets and build new assets along the way.
But what grows, eventually will stagnate and shrink. So the question becomes: how close are you actually to inevitable no-growth? Ideally, you aggressively tackle the problem of new growth several years ahead of that point.
2. When things are still going well, you won't realize stagnation until you decline.
Quietly your company's activities move from your customers inside your own company. You are now focused on internal budgets, internal resources, internal dynamics. You get sloppy.
In doing business over several years you established pools of assets, but also liabilities. You stagnate, your competitors don't. The dangerous thing about stagnation is that it is hard to differentiate from and feels like a period of growth.
3. When things are still going well, it is your best time to create new growth.
Every company has a unique pattern of hidden assets and liabilities to be leveraged and overcome. Every industry has a unique set of opportunities and constraints.
You have the organizational energy, financial resources, confident employees and most importantly the mindset and 'permission' to realize new growth while you grow. The next best time is now - so the question then becomes: how?
How do the very few companies succeed at creating new growth again and again?
Important: most companies do not try to create new growth at all, or try too little too late, or worse think they are trying but in reality they don't - we are talking how the ones who actually try early on and repeatedly succeed at creating new growth!
1. Not neglecting current business nor using it as an excuse to ignore new business.
80/20 Operations: They treat all their customers with quality, but differently. They use tools, technologies and methods to maximize value to their largest most profitable customers.
They minimize cost and complexity in serving small customers. They keep unprofitable segments alive to lock out new competitors. They stay profitable to fund new growth.
2. Innovating new business from the customer back not the company out.
Customer-Back Innovation: They balance the stretch of incremental extensions and next-generation offerings, challenging but achievable. They go beyond spoken needs of customers.
They recognize silent needs before customers can. They are aware that the customer definition and corporate self-definition change and influence each other over time.
3. Rebalancing existing and new assets while managing both businesses differently.
Entrepreneurial Execution: They maintain a culture that knows the existing is more known and the new is totally unknown - one requires operations, the other one requires learning, at the same time.
They test, learn, nurture, kill new projects as needed. Like entrepreneurs they're impatient for profits and patient for growth, remixing assets, selective capability acquisitions, or partnerships.
This won't happen overnight, but what can you do with your business today?
No 2 companies can expect to follow the same growth plan - but there are moves you can start implementing immediately, built on your current curve/business to move towards the new curve/business. This applies to any company in any industry.
These moves generate quick gains in revenue and profits in the existing business/curve today AND also position your company towards the new business/curve tomorrow. Don't judge them by the profits they generate directly. Their greater value lies in developing new capabilities.
We helped an established old airline increase B2B-sales by 135% in it's most competitive destination. We helped a newcomer digital recruiting platform to go from 0 to 1.5k users in an already crowded industry.
Today's €1M move may become your critical building block that enables tomorrow's €100M new-growth business - we can help you do that, but there is a but:
Please do not approach us, if you can not answer with yes to every point below:
Ramazan
Uzun
Business Advisor
at Qiyam
1. I've read the whole website (we don't want to work with people who can not concentrate long enough for reading one short website).
2. I understand I compete with companies who are aggressively working on new growth all the time, not the ones who do too little too late or nothing.
3. I understand that new growth is not a one-time thing, but a never-ending pursuit by learning through failures (Qiyam is Arabic and means "in perpetuity").
4. I am willing to invest significant levels of money, senior management time, top talent and political power to start AND maintain these pursuits.
© 2024 Qiyam
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https://lottiefiles.com/27773-hand-shake-business-deal
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Thanks a lot to all the great designers from LottieFiles!
Animation by Travis Krause on Lottiefiles:
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Animation by Ilya Pavlov on Lottiefiles:
https://lottiefiles.com/15563-hiring-isometric-animation
Animation by Abdul Latif on Lottiefiles:
https://lottiefiles.com/29553-adverting-concept
Animation by Muhammad Tahir on Lottiefiles:
https://lottiefiles.com/27773-hand-shake-business-deal
Animation by Usama Razzaq on Lottiefiles:
https://lottiefiles.com/26600-under-maintenance-work-in-progress
Animation by UI8 on Lottiefiles:
https://lottiefiles.com/17046-teamwork-startup-animations
Animation by Vule Stefanovic on Lottiefiles:
https://lottiefiles.com/11045-buildin-a-web-page