What keeps many businesses from growing? In larger companies, it is often maturing markets and inflexible organizations that dampen growth. Closely held and entrepreneurial companies, on the other hand, are built for growth. They operate in a world of innovation, rapidly changing technology, and entrepreneurial passion. For these businesses the challenge is not how to grow, it’s how to overcome the inevitable roadblocks to growth.
Some roadblocks may be out of your control – technology that doesn’t work or regulation. But if you are better prepared to overcome the roadblocks under your control, you have more options and opportunities. Here is Verne Harnish’s list of 5 big roadblocks to sustainable growth and how to break through them. (FORTUNE Venture Column).
Each of these barriers requires a different response, so it’s important to diagnose your problem before looking for a solution (like fixing a golf swing).
1. Not knowing your ideal customer
2. Failing to scale systems
3. Using an old organization chart
4. Trusting your gut
5. Letting your skills flat line
Take 2 minutes to read the FORTUNE article. I particularly like the idea of leaders referring to their team as “direct supports” instead of “direct reports.” Review theses five roadblocks at your next management meeting (the book Inside Advantage is key to figuring out your ideal customer).