The business world of today changes faster than ever. To keep up, it's essential you build a company that drives organic growth. You need to have internal systems that are focused on the creation of disruptive products. This mindset of constant evolution needs to be part of your company culture.
Constant growth is the new business reality. And it's here to stay.
While old-school thinking considers a changing market a problem, the business leaders of tomorrow revel in the opportunities it provides.
Additionally, five of the top 10 companies that are currently dominating the business world - Apple, Amazon, Alphabet, Microsoft, Facebook - have only been around for a few decades. These are new companies bringing new products for life.
And they didn't grow by creating a better version of an existing product. No. These companies busted into the marketplace by creating new, radically different products.
A future-based mindset is the fastest path to growth.
There are many excellent examples of companies disrupting industries. Uber and Lyft have changed the transportation industry. Airbnb offers a new form of accommodations, as well as income sources, for people across the world.
It's an exciting time to be in business. In fact, there's never been a better time to bring a new idea to life.
So whether you're an aspiring entrepreneur or a member of a more established company, the fastest track to business growth lies in a forward thinking, future based mindset. You have to look forward, instead of backward, to even keep pace.
Growth strategies you can apply today.
To get started, here are a few strategies to think about regarding future growth opportunities.
Develop an Agile Team: Build parts of your organization they can react quickly, test theories on a small-scale, learn from small failures, and adjust accordingly.
- Solve Customer Problems in a Completely New Way: Don't try to solve customer problems by creating a better version of the existing product. Rethink the solution entirely.
- Invest in New Growth Opportunities: For growth-related projects to be realized, there must be internal support. Growth support includes financial resources and buy-in from management.
- Don't be Afraid to Break Consensus: Just because your view isn't widely accepted, assume that it's wrong. Many transformative companies and products faced with many doubters on the road to success.
- Give Employees Time to Create - Take a cue from Google's 20% time rule and give employees a hand in the creation process.
Keeping a growth-mindset begins with the CEO and upper management. It is not a task to be delegated. Instead, it should remain a chief concern of the executive team.
If front-employees are charged with new business growth, often the tendency is to tackle more manageable tasks in place of the more significant opportunities. But real growth is all about thinking big, and it is the role of the company leaders to walk the growth talk, and lead by example.
Sure, some projects will ultimately fail. However, sticking to what has always worked is the surest way to end up with something mediocre.
So think big, take the risk, and your business might just change the world.