Welcome to my Growth Metrics series of blogs.
It's been a while since I've aired my thoughts and observations in the public domain - that's because we have spent the last couple of years researching and refining our methodologies. As you can imagine, a great deal has transpired during this research and development period, which I am looking forward to sharing with you.
The Growth Metrics articles are the first step in getting into the public domain this invaluable information about how to more effectively grow a business.
The articles are drawn not only from the work of the last couple of years, but from my 30 years' experience of working with businesses large and small; coaching, consulting, training, facilitating and mentoring. That experience has helped over 1000 organisations successfully build growth.
The series will start with understanding key drivers of growth, then explore the foundations for growth and move on through the key elements of fast growth.
Through the processes I'll use analogies to help you 'draw a picture' of how to reach successful growth in business.
My key analogy is one that I have borrowed from my friend and business partner Darren Shirlaw - that of building a house. Most people understand real estate and property. The reason for this is because it is tangible. Through the articles we'll relate back to property and show that business is no different, it's just not as easy to see.
So for example, when we look at the purpose of business, and setting objectives, the analogy is with understanding what sort of development or house you want to create. In the property world, some people will buy an investment property, with the goal of driving rental returns. The equivalent in the business world would be building a boutique lifestyle business. Growth would be taking it from, say, 1-4 people and gain an ROI for building a team.
Some property owners want a small development – a few town houses – to generate a mix of sales and rental revenue. This is like the business owner who wants to gain more leverage, so he/she can be more hands-off, and who will be focusing on building a business of 12 people.
Then there are those with the big vision – they want to be the next Mirvac or Westfield, building shopping centres and multiple apartment blocks. Their equivalent in the business world is those who want to build the large national or international presence.
None of these decisions is right or wrong – it's a question of choice, and of understanding your choice and the growth strategies that are needed to deliver it.
No matter what your vision or objective for your business, the Growth Metrics series of articles will give you information, tips and guidance on how to successfully achieve it.
Tim Dwyer is a business growth expert specialising in helping businesses strategically grow their assets, increase their business value, and improve their capabilities.
