Every company strives for growth, irrespective of their revenue and headcount. Startups & small firms want to get big, big firms want to acquire more market share to get bigger. Enterprises employ various techniques to achieve quick growth, but how quickly and steadily can you grow in an environment that comprises of competition, entry barriers, technology roadblocks and many other internal & external factors is a thing to ponder. Let’s try to look at a few key factors that enable organizations to grow in revenue and size.
Institutions Supporting Small Business Enterprises.pptx
5 keys to a fast enterprise growth
1. 5 Keys to a fast enterprise growth
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2. Every firm wants to grow….quickly…
5 Keys to fast growth:
Hiring the right talent
Crafting relevant Business strategy
Growth Financing
Creating an entrepreneurial mind-set
Creating a good internal & external environment
Start-ups & small firms want to get big, big firms want to acquire more market pie to get
bigger. Enterprises employ various techniques to achieve quick growth, but how quickly
& steadily can you grow in an environment that comprises of competition, entry barriers,
technology roadblocks and many other internal & external factors is a thing to ponder.
3. 1. Hiring the right talent
Understand the current business scenario & create business
processes
Plan Your Employee Recruiting Strategy
Create roles & responsibilities aligned to the business processes
Top management’s involvement in hiring key personnel
“Concept hires” - Identifying handful of responsibilities & then
mapping these onto talent’s skillsets
Setting the right expectations & maintaining a positive culture
4. 2. Crafting relevant Business
strategy
A distinct business strategy can guide the firm to stay profitable by
reaching important customer segments & satisfying their needs
Top management translates vision& mission statements into
corporate strategy
Strategy is further broken down into realistic objectives
Frameworks used by enterprises for formulating strategy– Porter’s 5
forces, SWOT analysis
Results of these analysis form the building blocks of strategy building
5. 3. Growth Financing
Companies that want to expand or restructure operations, enter new markets or
finance a significant acquisition go for financing
Type of growth financing:
Seed Capital: For firms that have not yet started its operations & is in the initial
stage of product launch.
Start-up Capital: For firms that need funding for hiring, administrative
management, market research, and finalizing of the product or service.
Early Stage Capital: For enterprises that reach a stage of reasonable growth,
when sales and revenue is on an upward direction.
Expansion Capital: For firms that are well established in the market and is seeking
funds to take the business to the next level
Late Stage Capital: For firms that have achieved great sales numbers and
revenue. Funds are used in improving sales and marketing efforts & increasing the
working capital.
6. 4. Creating an entrepreneurial
mind-set
Employees with an Entrepreneurial mind-set can
Create new opportunities by being innovative
Have a holistic view of the entire operations
Take calculated risks in order to be competitive
Understand the pain points of the firm and align their goals with firm’s
objectives
Be independent & authoritative
7. 5. Creating a good internal &
external environment
Internal environment
Employees – Talent engagement & development, Compensation &
benefits
Management – Positive outlook & attitude
Corporate culture – Creating a good work culture
External environment
Technology
Ecosystem
Legal/Political barriers
Economy and demographics