Corporate growth strategies begin, like all successful business planning, with knowing where your company stands at the present. Before corporate growth can be achieved, a review must be made of such things as the company’s current funding and marketing strategies, the product line and the time it takes from production to market.
What market share does the company have and where does it stand among its competitors? How cost effective is the business and where is it leaking time, money and resources? Every part of your company’s operation can help to generate corporate growth. In fact, if you come across any part of your operation that isn’t contributing to your company’s growth, it is probably detracting from it.
The next stage is to decide on which areas need improvement and allot a specific task to solve the shortfall. For example, through strategic alliances and re-distribution of existing resources, it may be possible to expand the production line, increase capacity and accelerate the time taken from production to market. These are all vital components in corporate growth.
New ways need to be found to connect executives with the funds, resources and partnerships that will trigger corporate growth. Aggressive marketing, capturing a greater share of the market, venturing into new markets and distribution channels all have the potential for fast growth. By developing cost efficient methods it is possible to accelerate revenues and catapult productivity at the same time.
Everything you do should be aimed at increase in the following areas:
• Market Presence
• Quality management
When you have a system in place to ensure you and your team are actively engaged in increasing the above areas in your business, it will be almost impossible to prevent corporate growth from taking place.
Des Vadgama is a leading expert on fast business growth and boosting profits by 50% or more.