So, why are you wanting to grow?
Ah, the first question we need to be asking ourselves. Take a moment to think about why you are in business/going into business.
Why are you doing what you do? In other words, what gives meaning to the core purpose of the organization? Write it down.
Keep it short and to the point. Have multiple reasons? Choose the top two that matter most and make sure that they are compatible.
*The only answer not allowed in this exercise: to make money. For this thought exercise, consider profitability as a critical measure of performance and an element that is required for the long term viability of the venture. Let’s also be honest with ourselves. Most of us would be doing other things if making money were the answer to the question.*
Now, think about your organization. The product expansion. The supply chain integration. The store front. The team. The website. The list goes on and on.
What are you wanting to build or expand? For your specific scenario, name your thing you want to grow. Write it down.
We have all witnessed (and in some cases lived through) the consequences of various build/expand decisions. As decision makers, we are guilty from time to time of being caught up in the moment. Losing focus. We give justifications along the lines of “[insert competitor name] is doing it and we need to keep up” or “this is the way we have always done it,” etc.
My personal motivation for building this company is “to help businesses do better by growing purposefully.” There are few things I love more than seeing resources - like people’s time, money, and energy - being allocated with clarity and effectiveness. I love context. I love witnessing a successful organization that is clear why it does what it does (across all levels of the team)!
Just how helpful is it to understand what gives meaning to the core purpose of the organization? It serves as the basis for decision making by clarifying how we determine everything from the organization’s leadership needs, how we navigate the external environment, how we design our operations and supporting activities, and how we develop corporate social responsibility programs.
Develop your plan for growth (that thing you are building/expanding) and use that central meaning you wrote down earlier (why you are in business) as context for decision making moving forward.
Decisions will be made more easily and with greater clarity. Your teams will be better aligned in the long-run.1
Wishing you a great weekend and easier decision making,
Courtney
P.S. - if you enjoyed the topic, be sure to also check out this video from Simon Sinek. He is a pioneer on the subject.
1 https://hbr.org/2019/09/put-purpose-at-the-core-of-your-strategy
