3 Benefits of a Growth Map
There has never been a better time to refresh your market intelligence to prepare for what’s next, whether you’re adapting to the new normal or simply seeking new growth pathways. A business plan cannot accurately predict your business’s future due to the constant development of technology in today’s industries. Your business can be displaced overnight by disruptive technologies or unexpected competitors.
The preparation and planning stages necessary to grow effectively are similar to the work needed before taking a trip or climbing a mountain. In order for you to navigate the path and meet the challenges that lie ahead, you will need proven tools and expert guides on your side to help you along the way.
Developing a growth map and sharing it with your team is one of the essential tools to help grow your business. Here are a few benefits of developing a growth map.
1. Keeps you focused
Like a business plan, a growth map is designed to increase effectiveness. However, there is a more holistic approach that needs to be taken. Using a business map ensures that your company’s big picture is always in the forefront of your mind. The purpose of this is not only to use it to meet your company’s long-term goals but also to help you and your team keep the business vision in mind on a day-to-day basis in addition to reaching long-term goals. Business maps are not just for growth phases — they are used throughout your company’s lifespan.
2. Provides effective solution
The first step to solving a problem is to identify it. Your company’s business map will tell you where your organization is really at — and what its most pressing issues are as well. The benefits of these tools are that they allow you to step back from managing your business to see it holistically. In addition to gathering feedback from your front-line employees about challenges and issues they face, a growth map can also help you solve problems and decide what to do next.
3. Improves flexibility
You create goals and actions in a business plan. Flexibility is key to a business map. Flexibility is critical when industries are constantly changing, and businesses are at risk of disruption. Your business map plan will be flexible enough to respond to customer, economy, or industry changes despite its structure. This facilitates innovation culture and growth. Your entire organization will benefit from empowering beliefs developed through a flexible mindset.
You will discover what success really means to you and how to define it through the reflection that is part of creating a business growth map. Keep your employees, and yourself focused on defining success. You and your team need a detailed business map to achieve your goals. Keeping your vision in the broader framework allows you to adjust your small goals when you aren’t meeting them.
It is time to create a growth map and take the lead.
For more discussions on such interesting topics, listen to my podcast Figuring Out.