Several years ago, James Fischer, had an ambitious goal. The co-Founder of the Origin Institute, a research and consulting company out of Boulder, Colorado, wanted to understand and decipher the patterns, behaviors and the characteristics in entrepreneurial enterprises – and – develop best practices to better navigate the trials and tribulations of business growth.
What did he find? A road-map describing the 7 predictable stages of growth that companies travel through in their journey from start up to going ventures of 500 people or more, drawn from the collective experiences of hundreds of entrepreneurial companies across 35 different industries.
From this was developed the 7 Stages of Growth and our Stages of Growth Assessment developed with TTI and Laurie Taylor ( www.igniteyourbiz.com ).
Here are four vital insights from this amazing work that every CEO and particularly those of Small to Mid-Sized companies needs to know:
Complexity is driven by Employees not Revenues
Each stage of growth has five overarching challenges that will drive their business
There are two Chaos Zones you must recognize and plan for (Flood Zone and Wind Tunnel)
Different leadership modes and Styles are required at each stage of growth.
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Leaders maintain a Strategic Mindset - This means they are asking the questions:
What is the business trying to accomplish?
How must it position itself in the market? and relative to its competitors?
Has the Strategy changed or is it likely to soon?
What forces might affect/impact it most (likelihood and significance)?
How does my role (unit or function) contribute to our company’s competitive advantage?
What must each of my people contribute to our competitive advantage?
How does my unit impact or affect the company’s strategy?
Are we on the appropriate gates of focus sequence: (Profit; People; Process)?
Am I applying the appropriate leadership modality to propel my team forward?
Do I and my team access and maximize use of our greatest talents continually and bringing out the best in ourselves and others?