Next Step across the plateaus of Growth

“This is the next big thing.” To many passionate entrepreneurs with a great idea the sky is in reach. However, over 85% of new ventures fail within 10 years – even without a pandemic or economic crisis!  While many reasons are cited, the majority of businesses close due to lack of sustainable revenue, customer engagement or profitability.

To achieve their dream, business leaders must be attuned to the market and adapt quickly to overcome common growth plateaus.  The first challenge often occurs when moving startup to a small business. With 10-20 employees or $5 – 8 million revenue, many businesses experience issues. To scale beyond the first customers, sales approaches and initial product, a change is needed.

After needed adjustments to go to market techniques, products or management processes, growth continues to the next plateau – which often occurs at the 75-100 employees or $60 – 120k in revenue.  To overcome this hurdle, many companies need to broaden channels, products or people to address new markets. In addition, fresh leadership approaches and possibly additional capital are often required for further expansion.

With strengthen partnerships, success in multiple markets and leadership alignment, many companies reach ½ billion in revenue with over 3500 team members. However, moving beyond this third plateau to achieve $1 billion often requires further changes in strategy, business models and commercial approaches.

While successfully navigating through the hurdles to reach true ‘enterprise’ success deserve celebration, business leaders must constantly remain vigilant, understanding customer needs, and market directions then adapting to sustain their market position.

When recognizing change is coming due to a growth plateau or market shift, the leader has a choice. He or she can

  1. Do ‘more of the same’ to try to regain growth
  2. Restructure or make personnel changes with the belief that the people are the issue
  3. Hope that growth will return when outside conditions change.

Unfortunately, use of any of these approaches often contributes to the 85% failure rate.

Since the early 2000’s Next Step’ holistic approach to business expansion has accelerated success for hundreds of companies, beyond the growth plateaus. Through our proven expertise in scalability, commercial approaches and change, we accelerate growth. We leverage the company’s strengths, focusses on the business model/go-to-market approach and facilitate the leaders’ implementation of changes needed for sustainable success.

If you are passionate about your idea and company, make the choice to be in the 20% of companies which cross the plateaus of scaling; expanding and leading for long term success.

When one of these ‘symptoms’ of an approaching plateau happens, it’s time to take action.

Contact Next Step – [email protected] to learn more about how you can achieve the next step of growth.