The 27 key strengths of successful growth companies was created out of a 9 year study of entrepreneurial companies and interviews with over 700 CEO’s to understand and decipher the patterns, the behavior and the characteristics of growth in entrepreneurial enterprises. This study was conducted by James Fischer of the Origin Institute a research and consulting company in Boulder Colorado. Read through these and circle the strengths your company demonstrates and put a star (*) by those you need to work on.
1. Profits are more than adequate to grow the company
2. Strong business/profit design
3. Customers are referring your products/services to their friends
4. Healthy cash flow
5. Sufficient capital available to grow
6. Low employee turnover
7. Hiring quality staff
8. Great staff morale and high voltage throughout the company
9. Competent planning throughout the company
10. Powerful staff buy-in on key strategies and initiatives
11. Project management & resource coordination
12. Strong leadership/staff communication
13. New staff orientation
14. Staff training
15. Agreed upon core values throughout the organization
16. Adept at capturing and retaining knowledge capital even when key employees leave
17. Dynamic periods of high productivity are the norm
18. Organization, not just the leadership, understands how the company will grow in the future
19. Organization understands the impact that staff satisfaction has on the company’s profitability
20. Company culture is generally open to change
21. You are one step ahead of the marketplace and your customers as their needs change
22. Competency in forecasting problem areas before they surface
23. Competency in diagnosing the real problems or obstacles to growth
24. Ahead of schedule in getting new products/services to market
25. Quickly get systems and procedures in place as the company is growing
26. Strong product/service differentiation in market
27. High competence in expanding sales
What I gained from reading this list. The first four of the top five listed were around profit: profit to fund growth, profit to improve cash flow and profit to have sufficient capital. I have been teaching this to business owners for the last 20 years, profit is one of the most important drivers of business performance. The second was a focus on people, training, leadership, retention. The third was on planning and forecasting problems before they happen.
Growth & Profit Coach, Financial Strategist, Cash Flow Doctor, CEO Mentor
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