CONTRIBUTOR: Emma Castle
DO YOU KNOW HOW BIG YOUR BUSINESS ‘BABY’ IS?
Most expectant mothers become well-acquainted with their child’s developmental stages; the baby is the size of a grapefruit, he or she can hear you, their organs are now fully developed.
Wouldn’t it be great if there was a similar explanation for your business? Your business has a heart and it’s the size of a pumpkin. Your business can kick and it’s the size of a watermelon.
The tricky thing about running a business is that these kinds of diagnostics are not linear. In the solar system of commerce, there’s a black hole called disruption, a worm hole called innovation and a sun called strategy that businesses rely on for light, warmth and – above all else – growth.
Ask yourself: does your business have a growth strategy?
Do you know where you’re going? And is it where you actually want to go?
Are you aware of all the opportunities that are out there for your business?
If you answered no to any of these questions, The B Hive can help.
WHAT IS GROWTH STRATEGY DEVELOPMENT?
The new Growth Strategy Development product is designed to provide meaningful, detailed answers to questions of how, when and where to grow.
The B Hive’s Founder Tammy Marshall explains, “Growth Strategy Development looks at growth options within the core business, new areas for growth, approaches to growth and the trade-offs required to succeed. We start with research to provide some logic and cohesion behind strategic choices, review the different growth models, and assess available resources and internal capabilities to see what the client’s best options are.”
Designed to provide strategic guidance to start-ups right through to the C-suite of established businesses, this research helps businesses figure out:
- Where they are going
- Where their industry and business are under pressure
- Where disruption is likely to come from
- What capabilities needs to be developed
- Incremental growth opportunities – products, pricing, customer and markets
- Options for growth and innovation – organic and inorganic
- External growth options and partnership opportunities
- Balancing the needs of today versus those of the future
- Trade-offs required for investment in future horizons
- Risk identification and strategies
- Innovation ownership in their business
- Appropriate internal structures to facilitate growth and innovation
- Systems and processes to support innovation
- Cultural adjustments required to foster growth and innovation
SO, HOW DOES IT WORK?
Growth Strategy Development is carried out using a combination of workshops, stakeholder interviews, opportunity assessments and desktop research.
The duration of the process depends on the complexity of the project.
At the end of this journey, clients receive a Growth Strategy Report that includes clear recommendations and a suggested roadmap for implementation.
Do you have all the information and tools you need to grow? Are you seeing the bigger picture?
If not, The B Hive can help.
AND WHILE YOU’RE HERE DON’T FORGET
- Find out more about The B Hive’s Growth Strategy Development here.
- Find out more about The B Hive’s Discovery Session here.
- Download The B Hive’s white paper on Collaboration in the Travel & Tourism Industry here.
- Download The B Hive’s 7 Deadly Sins of Innovation & How to Avoid Them White Paper here.
- Follow The B Hive on LinkedIn here.
- Connect with our founder, Tammy Marshall on LinkedIn here.
- Like us on facebook here.
- Follow us on twitter here.
- Follow us on instagram here.