Many companies have created tremendous wealth by cutting costs, pruning product lines and reengineering their core processes. Growth, however, is equally valuable and is achievable even by mature companies in mature markets. Creating a plan for growth starts with an understanding that growth is both strategic and tactical. Strategic, because a growth strategy must come from the top and be supported throughout the entire organization; tactical because a strategy without specific action plans and tactics cannot be executed. Our approach is comprehensive and looks at your organization from the outside in. We will help you assess realistic options for growth, prioritize them, and help you determine what it will take to execute the selected options – especially those important issues surrounding the financing of your growth plan. Many companies we have worked with attempt various growth strategies without first identifying significant impediments to growth. As you might guess, this approach rarely succeeds. As a first step, we will work with you to assess your organization’s ability to grow by utilizing some tools we’ve developed over the last several years. Our BDS SMARTGrowth ™ System is one of these tools. SMARTGrowth is a holistic approach to examining your company from the outside in and developing an action-based plan for growth. It identifies gaps in processes, systems and resources. Because of our bias on working with clients on practical solutions, we use SMARTGrowth since all goals must be “smart” in order to be successful:
- Specific – so that you manage to a specifically-stated goal or performance metric that can be measured and monitored along the way.
- Measurable – because no goal can be met if it’s not concrete and the target is not measured and monitored.
- Attainable & Accountable – to make sure you set goals that are within reach and everyone in your organization is accountable for attaining them.
- Realistic – to ensure that your goals are aligned with your organization’s capabilities and resources and that you have a reasonable chance to attain them.
- Time-Framed – because goals need a structure within which they will be attained and dates and deadlines create a sense of urgency.
Most importantly, we work with you to define what kind of growth is possible for your organization and what it will take to accomplish your growth objectives. Because of our focus on helping clients in the most practical way possible, we understand that growth is only desirable if it makes you stronger. Our team can assist you with the following:
- New opportunities for innovation and ways to generate the very best ideas from your employees, business partners, investors and other key stakeholders.
- Investment strategies to support growth, and if need be, access to affiliated M&A advisory services.
- Business metrics and simple tools that can help you manage for growth as easily as you manage your profits.
- Strategies for supplier development and partnerships to support higher growth rates, even in times of pricing pressures.
- International expansion opportunities and strategies.
- New technologies and IP strategies to explore with smaller companies and/or universities to develop new technologies and innovations in your product and service areas.