3 Steps to Growth in 2014

At the beginning of the New Year, it feels appropriate to discuss growth. Unfortunately, the growth conversation often lacks the levity it once did with the world economies still struggling to fully recover. Rather than focus on that, we want to offer that growth can still be fun and less perplexing than it seems; however, it may require changing strategy, direction, or even primary market focus.

Most people start off the year with resolutions, and we recommend that growth finds itself at the top of the list. We understand the desire to simply sustain when the markets are tough, but we advise taking the successful stock market approach - invest when the market is down. While it can be tough to swing, it can result in nice payoffs, especially if your competition takes the sustainment route.

With that said, we suggest three steps to promote growth into 2014.

1. Have Fun with the Idea Phase - As we stated, growth does not have to be a dreaded conversation. Have fun thinking about ways to grow. Get into it, create competitions, foster creativity in this phase, and most importantly do not discourage ideas by allowing negative feedback. Your organization's best path to growth may be hiding in the idea someone was afraid or discouraged to voice.

With that said, create a flexible box for the ideas. We know, that notion might be considered blasphemous in certain circles, but we suggest this approach because certain, flexible boundaries keep the ideas focused to those that account for key company strengths - not necessarily the obvious ones though - and it prevents devolving into an Anything For Money (AFM) strategy. It is important to have fun, but not to lose all semblance of focus. For example, here at Res Rei Development, we love creative growth ideas, but would exclude things like self manufacturing our thoughts on the next greatest widget simply because it falls way out of bounds of our core strengths. Have fun, but be mindful when outside of the box causes you to chase unrealistic opportunities.

2. Set Manageable Goals - How original of us right? We know, goal setting advice by a consulting company seems about as original as a celebrity rehab stint or the lack of innuendo in music these days, but its importance and neglect never seems to fade. We find it not all that uncommon to find relatively small companies with goals like "$1 million increase in year over year sales" when their three year average annual revenues are under $5 million. Think about that logically. That is a 20% increase in a single year. Yes, for some companies and some industries, they can manage that, but that does not make it manageable for everyone.

Additionally, unattainable goals for companies, just like for people, can leave a feeling of discouragement and hamper further growth efforts. Set those manageable goals, post them for everyone to see, encourage your personnel, create incentives, and reward them when you hit them. Now, manageable goals does not equate to underachieving goals. Make sure they will require dedication and effort.

3. Don't be Afraid to Ask for Help - Whether you ask your own group of friend-advisors or bring in outside specialists, it is okay to ask for help. Okay, we'll admit, that is a little self-serving, but, we didn't say you had to ask us - although, we'd be happy if you did - and the advice still holds validity. Getting additional perspective or help in creating a growth strategy can help cut through the noise and get your company moving towards those growth goals. Sometimes solutions can elude those that are too close to the problem. Regardless of the size of your organization, it is acceptable to ask for help. The bigger mistake is hitting a wall and not considering asking for help. It is the continued growth of the organization that is the goal. As the saying goes, "if you always do what you have always done, you will always get what you have always got."