In the past 12 months GrowthAccelerator has been the catalyst for many ambitious businesses to realise their high growth potential more quickly. Here we share the insights from the service’s first year on what determines high growth potential and how GrowthAccelerator is helping businesses to deliver jobs and real economic value. This report looks at case studies of where high growth happens.
There are many theories about the perfect formula for a high growth business, some suggesting specific sectors hold the key to success, and others dictating the business owner must have run several businesses previously. Most of these are myths.
The greatest indicator of growth identified is the ambition and leadership of the management team running the business.
It is this entrepreneurial spirit, drive, and commitment to growth that is a key, yet often overlooked, characteristic of these companies. By finding these inspirational business leaders, getting to the heart of their challenges quickly and impressing them, GrowthAccelerator is able to partner with them to achieve growth.
It is clear from research and case studies that it’s people who drive high growth companies. There is no such thing as a ‘typical’ high growth company; GrowthAccelerator clients are spread across many sectors, locations, sizes and ages. Their experience instead tells us that a key determinant of a company’s high growth potential is the people running that business. They have the ambition to grow. They are inspirational leaders who can fuel their staff’s imagination and get everybody working towards the same goals. But they also recognise the areas where they need support. These business leaders need advisors who can quickly get to the heart of their issues and provide clear solutions to help them achieve high growth.
The most common barriers to growth are business strategy and people. Working directly with the whole senior management team,the service focuses on their strategies and decisions about what their business stands for. GrowthAccelerator also identifies current staff capabilities, highlighting where they need to invest in training and where they need to recruit.
The report has case studies from the likes of Automotive Insulations, Hallmark consumer services and other impressive results.
The full report is available for download here.