Growth at all costs
Adapt to change, seize new opportunities, and continue to grow your business even in the most challenging markets or economic conditions.
Getting Started with a Profitable Growth Mindset
Outcome-based thinking can help your business to profitable growth. Start by embedding the idea of outcome-based thinking throughout your business.
- Identify the actual metrics for profitable growth.
- Focus on succeeding with the metrics that drive profitable growth.
- Inculcate the idea to the last of your people.
- Measure what matters the most for your business.
Employees in a “growth mindset” company are:
likelier to say that their colleagues are trustworthy
likelier to feel a strong sense of ownership and commitment to the company
likelier to say that the company supports risk-taking
likelier to say that the company fosters innovation
The Challenges: The shift won’t be easy!
Cultural Impact: There may be a cultural shift as the company becomes more focused on profits, and some employees may not be able to adjust. It is important to be prepared for this and to accept that a few people may leave the company. However, overall, the majority of employees will be happy with the new direction of the business. They will see the benefits of increased profits and being able to contribute to the success of the company. In the long run, this will lead to a more engaged and productive workforce.
Strategy Execution: Achieving a profitable growth mindset is easier said than done. It is crucial to align the overall strategy with a perfect execution plan. This can help ensure that the company's goals are realistic and achievable while providing a roadmap for achieving them. Achieving a profitable growth mindset requires a commitment from all levels of the organization, from the CEO to entry-level employees. It is only through this commitment that a company can hope to achieve its goals and maintain a healthy bottom line.
A Break from Moonshots: Don't let perfectionist tendencies hold back progress - make improvements where necessary instead and focus on the profits. This is essential to keep the business afloat and ensure that there is positive cash flow. Once the bottom line is achieved you will have plenty of time to aim for the stars.
Narrowing the Objectives: You may have to give up on multiple objectives and narrow down to only one or two. Trying to accomplish too many things at once will only spread your resources thin and ultimately lead to fewer results. By narrowing your focus, you can put all of your efforts into achieving your most important objectives. This will not only help your team to be more efficient, but it will also increase the chances of success.
Accomplishing the Profitable Growth Mindset
Huminos can help you in your endeavor to stay focused on the profits and measure what REALLY matters for your business with a truly outcome-focused strategy. By aligning your team around key objectives and tracking progress against those goals, you can ensure that everyone is working toward the same targets. And by constantly reviewing and refining your strategy, you can be sure that you're always taking steps to improve your bottom line.
Stay Focused on the Objectives: Huminos can help you stay focused on your objectives and ensure your people are working toward a common goal.
Measure What Matters: Stay on top of the profit metrics you want to focus on and ensure the progress is consistent.
Strategic Execution: Align your company wide goals with the goals of your teams and individual people.
Achieve Positive Culture: Track the performance of your people, reflect, calibrate, and reward them based on the outcome.
Want to achieve a profitable growth culture?
Let's discuss how.