Growth

Some headline considerations on business growth...

There are two types of growth
1. Internal – operational improvement
2. External – more customers / transactions

When to consider growth strategies
1. A change in the profit pool
2. A direct threat from a new competitive model / disruptive technology
3. The current growth formula stalls out

There are only 2 ways to grow
1. Improve innovation
2. Improve marketing

Considerations
1. Commitment for growth (desire & motivation)
2. Cost of growth (investment, risk, and ROI)
3. Capacity for growth (asset allocation)
4. Competency for growth (training & experience)

“Life is defined by the capacity to move and grow.”

Is your Practice on the move?

Is it growing?

What are its signs of life?

In today's Practice environment if you are not growing you're dead!

By the way, I am constantly amazed at the number of Practice owners that are in a growth stall. While owners take significant risks to start their business they are hesitant to take modest incremental risks to grow it. Often it requires nothing more than a good idea or two and the commitment to free up the necessary time to pursue the opportunity. Growth is not something that can usually be delegated. What can be delegated are current responsibilities. Successful entrepreneurs have a unique and proven talent. They are generally capable of creating more value through strategic growth initiatives than through the direct delivery of services. Yet they allow themselves to become trapped by the routine responsibilities of their current book of business at the expense of creating a new and larger one.

There are an incredible number of new opporunities in today's evolving markets... Its time to grow!

Bob

Copyright 2007
Performance Builders


"Your Practice is the sum total of all of the decisions you have made."

"You can't change the past but you can change the future."