Ensuring that successful growth continues or is rekindled

All growth efforts eventually slow. But neither your business nor your career has to decline in tandem with them as long as you stay alert to the dynamics that are in play and cultivate the ability to adapt.

These steps can help ensure that successful growth continues, or is rekindled:

1. Review current business activities: this may involve analysing strengths, weaknesses, opportunities, and threats (SWOT), as well as assessing the business's relative market share.

Answer the following questions:

• Where are the most profitable parts of the business?
• What are the prospects in the short-, medium-, and long-term for those products and markets?
• How precarious is the business - for example, does it rely on too few products, customers, or distribution channels?
• How clearly focused is the business - is it over-burdened with too many products, markets, and initiatives, or is it running on empty with too few opportunities?
• What is likely to be the best method of expansion - is it affordable (not just in terms of money)?
• What are the advantages and disadvantages of expanding?

2 Decide the best method of achieving growth: discuss the options with senior managers and shareholders, refining potential opportunities and deciding how to approach problems.

3. Plan for growth: decide what action is needed to achieve growth. This will involve leadership qualities to communicate and mobilise resources.

4. Act decisively and consistently: once the course has been set it needs to be rigorously followed. One of the greatest obstacles to growth is inertia, often in the form of attachment to heritage and past activities. However, Sir John Harvey Jones, one of the UK's most successful businessmen, emphasised the point that any business is only as good as its next three months' order book.

• Pay attention to the details of any strategy for growth. Understand how the changes affect people.
• Decisive action is vital, but this needs to include an understanding of how to maintain people's commitment and motivation. If people feel threatened, or insecure, then however sensible the strategy for growth and the plan for implementation it simply will not be achieved.
• It is vital to treat people with respect. It is also worth communicating what is happening to people so that they understand their role and how they can contribute.
• Also, monitor the situation; time lags need to be understood and planned for, and the strategy needs to be supported in the long term.