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 blog post we discussed the second key – your capability and capacity: delivering on your promise. This week we discuss the final key element in scaling your business.
Your Commitment to Persevere: Steadfastness in the Growth Journey
Finally, the commitment to endure the challenges of growth is often the defining factor.
Time and Financial Investment: Be prepared to dedicate significant time and resources over both the short and long term.
Team Alignment: Ensure alignment and commitment from partners and senior leadership.
Risk Tolerance: Acknowledge and accept the risks and potential downsides, maintaining a willingness to endure discomfort.
Persistence: Staying true to your strategic plan, even in the face of challenges, is crucial for long-term success.
By meticulously evaluating the five keys we’ve shared, your business can confidently assess its readiness for market growth. Each element is integral to not just surviving but thriving as your business enterprise grows.
We hope you’ve enjoyed this blog series full of information to help you assess and grow your business.
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.