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Successful Scaling of Growing Businesses
BALANCING EFFICIENCY AND FLEXIBILITY
My conversations with founders of scaling businesses, often revolve around the art of getting things done. On one side, optimizing workflows ensures every euro is wisely invested. On the flip side, maintaining flexibility is equally vital for keeping those innovative vibes rolling. However, let’s be real – being über-organized while staying open to change doesn’t always align seamlessly. So, dear founder CEO, CTO, and COO, the ball is in your court to uncover that sweet spot harmonizing with your team, your business, and your customers.
As your business scales, the need for efficiency grows, but it’s equally crucial not to lose the flexibility that brought you to this point. This article dives into what happens when you swing too much in one direction or the other and offers practical tips to keep everything sailing smoothly.
Ann Polley | dd month, 2023 | Category: Agility, Workflows | #scaleups #startups #agility #productivity #ThriveTogether
If reading this article is triggering some questions relating to your situation, feel free to get in touch if you want to discuss how to tackle your own challenges.
I’m available to talk and offer advice suited to your needs.
Let’s connect and work together to find solutions: ann.polley@thrivetogether-consulting.com.
When you over-prioritize efficiency
for example by not evolving your product to fit your evolving customer’s needs?
- Value Slips Away Over Time: Pushing your product without evolving it, risks losing its value. Just-in-time strategies become too late in this ever-changing and fast market, letting competitors take the lead. Stay ahead by adapting your product to the changing beats of your customers and their market.
- Static Organizational Vibe: Focusing solely on quick results might turn the workplace into a very static structure. Your people may prioritize short-term wins, neglecting longer-term decisions and investments. This poses a risk to your long-term growth, and you risk losing the organizational culture that could get you out of such a situation. Remember, static things can’t grow. Don’t be a one-day wonder! Foster a vibe valuing both instant wins and long-term growth.
- Declining Customer Experience: Putting your current solution in the spotlight as solving the customers’ problem, “if only the customer would change this and that,” is a recipe for a customer experience disaster. If you don’t dig into the real business problems your customers face, you will lose their trust that you can help them. If they don’t see you as a partner in their success, they’ll look elsewhere. Strive to address your customer’s needs, delivering innovative solutions for their challenges.
when you over- prioritize flexibility
for example by always adapting your product to every small customer feedback
- Value Slips Away Over Time: Pushing your product without evolving it, risks losing its value. Just-in-time strategies become too late in this ever-changing and fast market, letting competitors take the lead. Stay ahead by adapting your product to the changing beats of your customers and their market.
- Static Organizational Vibe: Focusing solely on quick results might turn the workplace into a very static structure. Your people may prioritize short-term wins, neglecting longer-term decisions and investments. This poses a risk to your long-term growth, and you risk losing the organizational culture that could get you out of such a situation. Remember, static things can’t grow. Don’t be a one-day wonder! Foster a vibe valuing both instant wins and long-term growth.
- Declining Customer Experience: Putting your current solution in the spotlight as solving the customers’ problem, “if only the customer would change this and that,” is a recipe for a customer experience disaster. If you don’t dig into the real business problems your customers face, you will lose their trust that you can help them. If they don’t see you as a partner in their success, they’ll look elsewhere. Strive to address your customer’s needs, delivering innovative solutions for their challenges.
Practical Tips for Finding the Balance
- Prioritize, Taking Into Account Your Strategy: Focus on changes that matter in the long run and bring joy to your customers. Don’t go changing everything just because – choose wisely.
- Communicate Clearly: Keep everyone in the loop about where the ship’s headed. Clear talk makes everyone feel part of the crew, moving towards the same island. It has the additional benefit that decisions taken on all levels of the organization will align with your strategy.
- Monitor the Customer’s Heartbeat: Stay close to your customers and feel their vibes. Keep the conversation going to make sure your product is the hit they want and need to be successful on their end.
- Make Decisions Based on relevant Data: Figure out what numbers document what matters. Use them at all levels of your organization to guide decisions. This is business-related data, operational data, but equally customer experience data, such as what your customers like and dislike, what excites the market, etc.
- Change iteratively: Embrace an iterative approach to both selling and problem-solving. Regularly review and adjust your strategies based on feedback, market changes, and evolving customer needs.