As a founder, owner or CEO you’re going to have many opportunities to spend money on your business. The ability to decide which of these opportunities are good ones that will repay that investment, and weed them from the poor choices that risk your brand are one of the things that make a good business leader.
No-one can be right all the time, but you can do some research and ensure you’re making informed decisions that give you a better chance. Today we’re taking a look at growth consulting, so when you get the opportunity to spend money in this area, you have a better chance of knowing if this kind of business strategy consultant is the right thing for you at that time.
Why Do You Need Growth Consultants?
Growing your business is a risky endeavour. It takes money and attention away from the successful core you’ve established and stakes it on an expansion you can’t know will be successful. If the customers aren’t there for your new branch or your new product, you’ve wasted a lot of money, and burnt some of your brand’s hard won reputation in a public failure into the bargain. Even if the audience is there for your planned expansion, if it takes longer to pay off than you’ve calculated for it can put your business under stress.
Even financially successful growth can do long term damage to your business if it’s not thought through. Adding new products to your line without thinking about how they cohere into a brand customers understand and want to shop with can undermine you in the future.
This all sounds scary, but all of these challenges come with things you can do to limit the damage in the long term and in the short term. This is where it could be worth talking with growth consultants.
On Day One
Growth consultants can offer something to your business from the first day of planning. There are many different growth models for businesses, some more suitable for your plans than others. Sitting down with a growth consultant in the very early stages to talk about your aspirations for your business will help you come up with a plan for growing it in a way that maximises not just your chances of success, but happiness and satisfaction too.
This can all feed into your business’ strategic plan, which is a vital document for ensuring you remain true to your values and hopes for your business in a world that demands a hundred decisions every day.