Get BETTER to get bigger.
“Successfully stuck” sounds like an oxymoron, right? But it’s actually an extremely common experience for successful businesses.
This term describes a business that grows into big success — often making millions or even hundreds of millions in revenue every year…
But they hit a stagnation point. A growth plateau.
They discover that the strategies that got them here won’t get them where they want to go.
I like to call this the “moment of inflection” (MOI). And what I’ve found about your moment of inflection is that it’s akin to a moment of truth. You’re in a constraint zone and you need to make a move.
In this graphic, the constraint zone is in orange. See how the MOI can take you up or down? (Spoiler alert: I recommend going up.)
Will you pivot? Will you let your company die? Or will you get your sh*t together and scale?
Regardless of what brought you to your MOI, there’s one hard truth we all need to face: If you want to get BIGGER, you need to focus on getting BETTER.
Here are 9 levers to unlock you from your growth plateau and blast you out of your MOI.
What brought you to your MOI?
In many cases, a business hits its MOI because some elements of its market strategy “broke” along the way.
Maybe your targeting strategy became obsolete after the launch of a new solution.
Maybe you relied on referrals and organic growth, but hit a tipping point where passive lead gen isn’t enough anymore.
Maybe your sales process is too manual and convoluted to be able to scale swiftly.
There are an infinite amount of obstacles successful businesses can face as you and your team work to “level up.”
And with those obstacles come various solutions.
But it often requires you to look backward before you can move forward.
Reexamine what got you where you are, and uncover which strategies need to be added, tweaked, or ditched completely.
9 growth levers to blast you out of the constraint zone
These 9 growth levers can be organized into 3 foundational levels: optimize, maximize, and what I humbly refer to as “BIG MONEY, BABY!”
Level 1: OPTIMIZE
- Perfect market.
Are you sure you’re going after the right audience? Many businesses in their constraint zone find that they stretched themselves too thin by pursuing too many markets at once. Trying to be all things to all people.
Some find that they simply “outgrew” their original market, changing their offerings as the company developed, but never quite changing the market to match.
- Million-dollar story.
Sometimes your sales are sluggish because you haven’t truly crafted your million-dollar story yet.
Your million-dollar story connects with your target market’s hearts and minds and evokes emotion. It’s your brand story — it showcases who you are, why you exist, and how your mission and goals align with those of your audience.
Do you have a compelling brand story that inspires your target audience and motivates them to buy from you over your competitors?
- Perfect offer.
The perfect offer is specific, succinct, and intuitive. It tells them the WIIFY: “what’s in it for you.” That includes how you can help them solve their problems, and why they should choose you instead of one of your competitors.
A perfect offer communicates exactly what they’ll get once they take the leap to do business with you, including what you’ll deliver and how you’ll deliver it.
Level 2: MAXIMIZE
- Revenue & funnel roadmap.
Start with a growth projection model — a roadmap of your 3-5 winning moves and the KPIs you need to reach to achieve your growth goals.
Explore every possible path you can leverage. You may think you need more leads from marketing when cross-selling your current customers might be the better path.
Instead of spending 8 months and $100K generating new leads with inbound marketing, you might be sitting on a multi-million dollar growth opportunity that’s cheaper and faster.
- Alignment system.
Maximize your execution by aligning your people, priorities, and processes across the organization.
Is everyone working toward the ultimate goal? Are you all crystal clear on which priorities matter and how you’ll accomplish them? What tools, systems, and processes are you using?
- CX management.
Your customers are the lifeblood of your business. You simply won’t succeed without customer experience at the core of your business model.
Here, you’ll take inventory of every single touchpoint your customer has with your brand, and learn to manage and maximize each one. At this point, many brands discover a need to ramp up their customer nurturing and relationship management.
Level 3: BIG $$$$$, BABY
- Strategic partnerships.
You know that old saying, “It’s not about what you know; it’s about who you know.” The right partnerships and alliances can skyrocket your business.
These partnerships can span across any business function, like finance, development, implementation, and distribution. Lean into your team’s core competencies, then find strategic partners to fill the gaps.
- New solutions.
Now that you’ve penetrated the market with your existing products, you can start innovating new solutions. How can you create future value for existing customers?
In some cases, this might be tweaking an existing product or service to meet needs your customers have expressed during your feedback-gathering efforts.
If you don’t have this feedback, it’s time to invite customers into the innovation process.
- New markets.
I like to think of markets like bowling pins. Once you’ve knocked down your existing market, you can expand into new ones.
There’s a reason this growth lever is in the highest level of the framework: like I mentioned earlier, pursuing too many markets at once runs the risk of diluting your brand and throwing you off your path to profit. One by one is the most strategic and effective approach.
There’s a clear path to getting “unstuck”
If your business is successful, but you just haven’t been able to achieve that hockey stick level of growth,
Maybe you’re successfully stuck too.
Don’t worry. There’s a path forward.
Like you, many businesses find themselves in this place. Some rise to the occasion and uncover the growth levers they need to deploy to blast out of that constraint zone and into BIG $$$$$ baby (I’m talking real legacy money).
If you’d like a growth partner to make sure you’re paving the right path to scale, shoot me a message. I can help you get BETTER so you can get bigger.