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Top ten growth characteristics for small companies

Research shows that there are ten key characteristics of small companies that grow into larger profitable companies.

These characteristics are in addition to those factors that have already made your company successful such as having a successful product line, sound market positioning, state of the art technology and a profitable customer base. These ten characteristics are more to do with the underlying management of the organisation.

See which of these ten criteria your company has? The less you have the more problematical will be your growth curve. 

 
1.    Do you carry out a formal planning process for business performance improvements?
   
2.    Do you invite participation from staff members in that planning process?
   
3.    What level of formal management and planning training do you and your board members have?
   
4.    Do you carry out regular formal strategic reviews involving all your team?
   
5.    Do your employees have a working knowledge of your strategy?
   
6.    What degree of financial understanding do your board members have?
   
7.    Do you generate prompt monthly management accounts that include cash flow, P & L and balance sheet?
   
8.    Do you set budgets that include KPIs (Key Performance Indicators) to monitor trends and provide performance feedback to staff?
   
9.    Are these budgets and KPIs reviewed, met and analysed in comparison with actual performance on a monthly basis?
   
10.    Do you use outside professional advisers or consultants to obtain an objective view and provide expert help on major changes?
   
 

 

Rapid business growth challenge - The top ten criteria

Research shows that small companies that grow into profitable larger companies have ten key characteristics.

These characteristics are in addition to those factors that have already made your company successful such as having a successful product line, sound market positioning, state of the art technology and a profitable customer base.

The ten characteristics of a rapid business growth trajectory are more to do with the underlying management of the organisation.

See which of these ten growth criteria your company has? The less you have the more problematical will be your growth curve. 

1. Do you carry out a formal planning process for business performance improvements?
2. Do you invite participation from all staff members in that planning process and does the process inolve input across functional and departmental boundaries?
3. Do you and all your board members have any formal management and planning training?
4. Do you carry out regular formal strategic reviews involving all your team?
5. Do your employees have a working knowledge of your strategy?
6. Do you and the board have the ability to carry out a financial analysis of your company accounts?
7. Does the company generate prompt monthly management accounts that include cash flow, P & L and balance sheet?
8. Do you set budgets that include KPIs (Key Performance Indicators) to monitor trends and provide performance feedback to staff?
9. Are these budgets and KPIs reviewed, met, analysed and if necessary upgraded in response to actual performance on a monthly basis?
10. Do you use outside professional advisers or consultants to obtain an objective view and provide expert help on major changes or in areas of operational weakness?

If you are answering NO to more than three of these questions you need to act fast. You are seriously holding back your chances of successful growth. Contact Jeremy Old today on 0845 0945 819 or email requesting more information about our rapid business growth challenge

Read the download "Taking the grief out of growth". This explains in more detail the key factors underlying a successful rapid business growth trajectory for a small firm.