Growth leaders choose to grow businesses faster – regardless of the size of your business.
50 per cent of their revenues will come from new products, services, clients, or businesses within the next five years.
McKinsey’s – Choosing to Grow: Three foundation steps are
1. Be aspirational – leaders’ mindsets, set bold, actionable ambitions: Companies that have successfully adopted growth mindsets are 2.4x more likely to outperform.
2. Activate pathways – Expand your core business, innovate into adjacencies: this newsletter daily, examples of how startups grow, provides proven frameworks to accelerate your business’s growth. Companies are 97% more likely to outperform – by investing in multiple growth pathways.
3. Execute with excellence, growth-oriented operating models and capabilities to deliver 3x more.
Innovation, new products and services, and adjacent businesses are vital in accelerating growth and total shareholders’ returns.
Those businesses that scan for new opportunities consistently are 30 to 50 per cent more likely to find alliances, joint ventures, and M&A opportunities.
The Mckinsey leadership questions:
- Am I setting the right aspiration, mindset, and culture to encourage growth?
- Are my ambitions high enough, and how can I ensure my organisation has the full potential to achieve them?
- Am I actively choosing growth opportunities across my core and adjacencies?
- Am I establishing the right enablers to execute my growth aspirations and strategies?
- Do I have the right operating model and resource allocation to achieve my growth ambitions?
- And am I investing in the right functional capabilities?
There are opportunities – everywhere. Every industry is changing: it’s a global phenomenon. Now it’s possible to create a never-ending shopping list of new adjacent growth opportunities for every business.
Transforming COFFEE opportunity,
Climate changes – higher temperatures and increasingly erratic rainfall are threatening coffee crops, and regions most suited to growing coffee are forecast to decline by 50% by 2050.
A potential solution is to bypass coffee plants altogether.
Atomo makes cold brew ‘coffee’ without the beans.
The Seattle-based startup turns date seeds, grape skin and chicory root into a canned beverage that strongly resembles real coffee.
To mimic the familiar buzz, Atomo adds around 84 mg of caffeine sourced from tea.
According to Atomo, it produces
- 93% fewer carbon emissions than conventional cold brew coffee while using
- 94% less water,
- with the same taste and buzz as coffee from beans,
The global benefits: No deforestation – it is better for the planet.
Now the most valuable asset in the world today is attention.
The FASTEST growing businesses have one thing in common they get more attention on multiple social media platforms – every day.
- They get more attention first
- Next More engagement
- Influence and Sell More.
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If you have read this far, thank you for your attention.
It means a lot. I hope this helped you even a little bit in better making sense of this topic. If so, please, share it with a friend who might also benefit from it.
Thanks for reading,
David
