Business growth is more like processes that happen in nature. This means that business growth is organic…not created, directed or otherwise controlled by the human mind.
Sometimes with proper care and attention to our professional service marketing, we can achieve some great results.
Other times, despite the best of intentions, we produce less than satisfying results.
According to Edward D. Hess of the Darden School of Business at the University of Virginia, there are six keys to organic growth. Hess refers to these keys as ‘secret sauce’ of long term growth.
- Unique talents and/or services
- Best talent
- Visionary, charismatic leaders
- Superior innovation
- Cost superiority obtained by outsourcing and off-shoring
- Sophisticated, diversified strategies
I like this model, intuitively it makes a lot of sense.
The secret sauce combines our personal inborn talents (items 1-3) with the actions we take to apply these resources (items 4 & 6). It also combines some elements which are related to the marketing function (1-4) with some that are more related to business management (items 5-6).
There is nothing to suggest that equal amounts of each ingredient are required. That’s where our experience comes into play. From past experience, we will know…or can figure out…how much of each element is required to achieve desired growth. Different circumstances require different amounts of individual ingredients.
Enough theory. I’m satisfied that my business planning includes these six keys to organic growth. How will they help you achieve your growth goals?
