Leadership consultant Larry Prince created a series of questions designed for business owners to help assess their company’s readiness for growth. He also lists three keys that are important in assessing your readiness for expansion. In our last newsletter we discussed the first key – market presence is crucial and hinges on a well-crafted go-to-market plan. This week we discuss the second key element in scaling your business.
Your Capability & Capacity: Delivering on Your Promise
Capability and capacity determine your ability to meet market demands.
Operational Efficiency: Ensure your operations can deliver on time, maintain quality, and stay on budget.
Resource Availability: This includes having enough capital and inventory to fund and support growth, as growth often requires significant investment.
Operational Readiness: Your business processes, systems, and standards should be well-documented and efficient. A cohesive leadership team, competent talent, and sound business planning are essential.
Customer Support and Distribution: High levels of customer support and efficient, timely distribution are crucial for maintaining customer satisfaction and loyalty.
Financial Management: Robust financial tracking and management systems are needed to oversee and guide this growth.
Stay tuned for our next newsletter with the final key to ensure your growth is not just a possibility but a well-charted plan for success!
Our Strategy First Process can help your company strategize a path to growth. I’m happy to chat with you to see if it is a good fit for your company.