3 Essential Principles to Drive Fast Growth
If you’re committed to being a fast and growing company, then you’ll be excited to discover there are a few essential principles to put into action.
Principle #1: Exist to grow so that everyone benefits
Great companies that get everything done faster than their peers make GROWTH their guiding principle. It’s their reason for existence.
We’re not alluding to corporate greed or operating only to meet the needs of shareholders. That’s when companies do stupid things like lay people off, slash product offerings, and shut distribution centers and warehouses. Don’t be committed to growth for your shareholders. Grow to be number one by making shareholders number three.
Everybody who wants to grow, who wants to succeed and excel – remember, those are the employees you want– they want to do it now! You won’t be able to deliver if your company is not growing fast. The reason to grow is your people. Focus on growth and you’ll appeal to those seeking to contribute, grow, and have an impact – those committed to creating better tomorrows for all involved. Ultimately, you’ll create a path for employees to be exceptional and passionate about your purpose. By finding and keeping the right people, you’re better able to find and keep the right customers. When that’s being achieved year-over-year, then you’ll see the shareholders are incredibly happy.
It’s important to keep in mind that your job as a leader is to help people feel like they’re on the most winning team they’ll ever be on. When they think of winning, do they think of their workplace, your company? What more can you be doing as a leader to cultivate that feeling across the company?
Principle #2: Let go of the things holding you back
Great companies that get everything done faster are able to LET GO. There are four critical things to let go of if you’re committed to fast growth:
- Let go of yesterday’s breadwinners because what you’ve done isn’t necessarily going to get you where you want to go.
- Let go of the same old, same old because resistance to change will kill any chance for growth.
- Let go of ego because if you believe you are untouchable and don’t need to continue to change and innovate, you’re as good as done.
- Let go of conventional wisdom because new success and incredible growth requires applying unconventional wisdom.
You can be sure that this principle is not optional! You must let go because disintermediation is persistent. Simply look to changes in shopping, car services, media, movies, telecommunications, hotels and travel, etc. If you’re not letting go and choosing to look ahead and innovate, then growth will only be a concept for you and always remain out of reach. If you don’t like change, then you better like extinction because that’s where you’re headed.
On the positive side, when you let go, you can be better able to deal with change, stay more focused than your rivals, and realize how growth and innovation naturally occur.
Principle #3: Be a good steward in all you do
Great companies that get everything done faster are led by GOOD STEWARDS. To understand if you’re a good steward, you must ask yourself the big question: “Is my life more about me or more about others?” If you can sincerely answer “others” then that’s when you know you can be a good steward.
Good stewards share these qualities:
- Share all the information
- Accessible and keep their hands dirty
- Fearless about growth
- Stand for something
- Have a fierce sense of urgency
- Get rid of superficial distinctions
- Make everything better for everyone
- Coaches and mentors
- Called to serve
If you read that list and start stirring with objections (for example, “We can’t tell them everything!” or “I don’t have time to be involved at every level!”, then you don’t have a leader or growth mindset. Think about it. When everyone has the right to know everything, that’s when you can grow quickly and get things done faster. Sharing knowledge fosters accountability and promotes flawless execution. In addition, leaders must be in the trenches asking what more can be done and how they can help.
In closing, imagine leading a company with these growth principles! How different and impressive would that look to you? By putting those principles into action, you will become one of the fastest and greatest companies in the world and enjoy consistent growth, highly-engaged people, welcome change and innovation, and create an environment where all will be happy!
Source: Jason Jennings, Authority on Leadership, Growth, and Innovation, presented during SIA 2018’s Keynote, “The Need for Speed – How to Get Everything Done Faster.”