Business, from resources to growth
We keep on associating the word “business” with “growth”, but things are still blurry to some extent. So how does growth happen, and which are the resources behind it?
Business growth is rooted in the mindset of the decision-makers and is the result of 2 prime resources: people and capital. The right mix of resources leads to designing a functional business strategy. Furthermore, a business strategy implemented in the shortest time frame ensures a stable journey towards business growth.
Albert Einstein said that if people perceive they live in a hostile environment – or their future is a habitat full of challenges – their mindset is aligned to survival instead of growth. In survival mode, people do not grow.
Entrepreneurs who target growth see challenges as part of the game. Their mindset is focused on the outcomes. Their cognitive process is target-oriented.
On the other hand, entrepreneurs with a fixed mindset see challenges as obstacles and focus on solving them. Their mind is task-oriented.
When you are engaged in the journey of growing a business, the people you surround yourself with remain your most critical asset – from their behavioural-based assessment, their set of skills and the niche they cover – to the value they add to the business in the long term. Finding motivation in people’s behaviour and ensuring employees retention are key metrics to determine how the business will grow.
Compared to a start-up phase, business growth is the most resource-consuming stage in the lifetime of a business. When it comes to this stage, the source of capital and the use of funds will make the difference. To access capital, ensure you have the business model and the growth opportunities outlined in a pitch deck. Remember: a solid deck will be assessed by an investor from both an opportunity and a risk perspective.
Ultimately, the growth boundaries of a business are the limitations of the entrepreneurs and the people involved in the decision-making process. If people look at the future as challenging, their decisions will direct the business into a survival stage, where the business will follow a lower risk but slower growth to reach maturity.