The world has been in the shackles of the COVID-19 pandemic for months now and it has created an unfamiliar post-lockdown business environment. Your current business growth will be a combination of creating opportunities, and monitoring your competition to react to their changes, so you will “realign” your organization to take advantage of these opportunities and/or react to customer behavioral changes as they unfold.
Being able to both recognize potential opportunities as they arise and reassign resources, as needed, requires planning. Identifying the “right individuals” and rapidly defining your innovative approach for capitalizing and winning the new business, are key to your future success and sustainability.
About the blog author
- Diligent executive project manager offering a proven record of success leading all phases of diverse technology projects; business transformation leader with more than 25 years of project management experience and as a financial executive, leading to being Assistant Deputy Commissioner of the City of Boston.
- As a business strategist, I planned and managed multimillion-dollar projects aligning business goals with technology solutions to drive process improvements, competitive advantage, and bottom-line gains; Collaborated with multiple customer entities to conceptualize and implement innovative manufacturing processes, cost-saving supplier metrics, and digital enablement road-maps.
- An influential visionary with an empowering and motivational leadership style that brings out the best in all project participants, both internal and client staffs; create alliances in efforts to achieve business goals, and quickly turns negative financials into positives.
My LinkedIn profile is at https://www.linkedin.com/in/bjmartinez/.
Who within your organization has both the understanding of your organization and industry experience to lead your Growth team? Your Growth team is responsible for two things: the movement of customers into your company and maintaining your existing customer base. Each product/service needs its own specialist, reporting the Growth Team leader.
- Identifying what your current customers value about your firm
- Ask your current customers what your company’s strengths are.
- Analyze results with your team leaders to ensure consistency in customer interactions or the quality of your products.
- Research your competition to see how they are evaluated by their customers.
- Review your processes and practices to improve your customer interactions.
- Determine what adjustments are mandated from the data.
- Verify existing customer base retention regularly.
- Staying attuned to the market
- Request current data about your industry, status of your business, your competition, focusing on new entrants into your industry.
- Evaluate the health of your industry, competition, and customer preference changes due to COVID-19.
- Determine what opportunities are available for you to exploit.
- Identify the “low-hanging fruit” and create your approach to these clients.
- Test your ideas with selected long-term customers before approaching potential new clients.
- Starting with small opportunities
- Take on expanding with small steps, so your growth is consistent and lasting.
- Follow-up after a month of serving these converted customers to ensure satisfaction and reinforce positive perceptions.
- Drive your growth using data.
- Run your analysis to determine which specific growth tactics yield the best results.
- Measure results to expand your targets.
- Preparing financially for business growth opportunities
- Project costs of realigning teams to gain new clients.
- Set aside an Innovation fund so you can move forward with your growth.
- Seek out creative partnerships if you are cash challenged.
- Maintain good relationships with your financial institutions.
Planning and communication are of primary importance. This approach works well because each team groups together people who have similar experience and will manage their own growth goals. Update your models as you become aware that customer behaviors have changed.
Stay aware! Use data! Act fast! Reorganize! Reinvent! Reinforce! Stay ahead!
AccuComp Enterprises collaborate with business and technology leaders to support the formulation and execution of transformational strategies. As your business partner, together, we can achieve your intended business outcomes by bringing the best of process re-engineering, technology experiences, and advanced business analysis.
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