There are many challenges and motivations faced by leaders when managing rapid business growth, and there is research to show that those successful in managing business growth have similar attributes in the leadership team.
These leader’s growth attributes include:
- the businesses set ambitious targets for growth
- these leaders have a positive attitude to taking on board advice
- these businesses take a measured approach to pursuing relevant opportunities but like to be quick off the mark
- recruitment and retention are seen as the most important challenges facing these growth businesses
- growth leaders rate the effectiveness of their strategies to motivate and inspire as strong but are much less confident about their strategies for personal development and talent acquisition
- the growth leaders are typically goal-orientated, demanding and competitive – they motivate and inspire their people
- growth leaders demonstrate an ability to compromise and collaborate
- these leaders are more confident in entering new markets than the average SME
- growth leaders are more confident about introducing innovation than average SMEs and find creative ways to get their products and services quickly to market
- these growth leaders are more confident in their ability to fund growth than average SMEs
- growth businesses have been funded by a wide range of sources, the most common of which were personal resources, reinvestment of profits and bank lending
- growth leaders are comfortable taking calculated risks and regularly do so
- having started the business, the bravest decision these leaders say they’ve made relate to the people they employ
- when mistakes are made growth leaders take positive action FAST
- these leaders find opportunity in difficult economic climates
Our deliverables relate to working with the leadership team on a programme to enable effective leadership that is committed to positive change and growth.
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