Business growth is a challenge facing many senior leaders. It prevents them, & their business, reaching their true potential. So, we asked one of our network of Business Consultants, with proven success in driving organisational transformation, to share their experience of developing strong frameworks for creating sustainable business growth…
Introducing the topic & author of this article
For many businesses and their senior leadership team, creating sustainable business growth is a challenge. This can be particularly more challenging for SMEs.
However, without growth, every business is at risk. Then again, on the other hand, investing in growth is equally a threat to any business. Specifically investing in the wrong areas, or at the wrong time.
So, to provide some ideas on how to create sustainable business growth, for your business, we asked one of our network of Business Consultants to share their thoughts.
In short, we choose them specifically due to their proven success in helping other business leaders significantly scale their organisation. And ultimately develop strong frameworks that create sustainable business growth. In their article below, they briefly share some ideas gained from their experience…
Ways to create sustainable business growth
Of course, it is important to point out, there are a number of ways to create sustainable business growth. What is equally important to understand, is that each business is unique. Therefore to achieve successful business growth for your business, your first step should be to start with a full business review.
However, in this post I provide a brief overview on how strategic planning and outsourcing can both play significant roles in streamlining your business, minimise risk, and provide you with a platform for sustainable growth.
So, here’s how each contributes:
“A well thought out strategic plan allows a business to be more adaptable to change”
1. Strategic Planning
To create sustainable business growth, it’s important to start with strategic planning. With this in mind, below are a few pointers for you.
Clarity of Goals:
Strategic planning helps a business define its long-term goals and objectives clearly.
This clarity enables everyone in the organisation to align their efforts towards these common goals. At the same time, reducing wasted resources on activities that don’t contribute to the overarching strategy.
Resource Allocation:
By identifying priorities and resource needs, strategic planning ensures that resources (for example, financial, human, technological, etc.) are allocated efficiently.
Notably, this prevents unnecessary expenditure, and ensures resources are used where they can generate the most value.
Risk Management:
Strategic planning involves identifying potential risks and developing strategies to mitigate them.
By anticipating challenges, businesses can prepare contingency plans, minimising disruptions and as a result ensure smoother operations.
Adaptability:
A well-thought-out strategic plan allows a business to be more adaptable to changes in the market or industry.
It provides a framework for decision-making and helps the business pivot quickly in response to new opportunities or threats.
“outsourcing allows for business agility.
This enables you to create sustainable business growth, by being able to expand & contract quickly to market changes”
2. Outsourcing
Next, outsourcing allows for business agility. This enables you to create sustainable business growth, by being able to expand and contract quickly to market changes.
So, next I’ll summarise a few points on outsourcing
Focus on Core Activities:
Outsourcing non-core functions allows businesses to focus their internal resources and expertise on core activities that directly contribute to their competitive advantage, and strategic objectives.
This focus increases efficiency and effectiveness in delivering value to customers. And returns for the business.
Cost Savings:
Outsourcing certain functions can often be more cost-effective than handling them in-house.
Outsourced providers may benefit from economies of scale, specialized expertise, or lower labor costs in different regions, resulting in cost savings for the business.
Access to Specialised Skills and Technologies:
Outsourcing enables businesses to access specialised skills, technologies, and resources that may not be available internally.
This can help improve quality, innovation, and efficiency in areas where the business lacks expertise or infrastructure.
Scalability:
Outsourcing provides businesses with the flexibility to scale their operations up or down quickly in response to changing demand or business conditions.
This scalability reduces the risk of overcommitting resources, during periods of expansion. Or indeed, underutilising resources during downturns.
Integrating strategic planning with outsourcing strategies
To conclude, by integrating strategic planning with outsourcing strategies, businesses can ensure that their outsourced activities are aligned with their overall goals and objectives.
This approach maximises the benefits of outsourcing, while also minimising potential risks and drawbacks. Ultimately, leading to a more streamlined and agile business operation, and a platform for creating sustainable business growth.
About me
I’ve worked at Executive Board level, fulfilling many of the roles within a senior leadership team, for UK National and International organisations of all sizes.
Having provided and implemented the strategies, to support organisational transformation, growth and sustainability numerous times for many businesses. Today I work as a Business Consultant, helping other businesses maximise their potential.
When you’re ready to take your business to the next level, if you’d like to find out more about me and how I could help you achieve sustainable business growth. Contact me through Pyramid Resource Solutions, and lets arrange an initial chat.
Pyramid Resource Solutions
Successful Leaders generally have at least one external confidant, acting as their trusted advisor, soundingboard, and / or mentor. Pyramid Resource Solutions has a network of Business Consultants, that could support you, and your business, to unlock your true potential, and reap the rewards.
You can view a small selection of profiles from our network of Interim Managers and Business Consultants. Or contact us to discuss your specific objectives, and we’ll put you in touch with the best consultant to help you achieve your goals.