Yes, offense is the name of the game for businesses in the year 2016. In a fast-changing and hyper-competitive business landscape, fail to put points on the board and you’ll fall behind. Quickly.
In a recent McKinsey report, “Playing to Win”, the new reality of fast to market innovators, emerging market companies, and an increasing war for talent will demand that organizations of all sizes go on the offensive. This means securing top talent, spotting disruption before it hits, expanding to fast growing markets and getting aggressive with innovation.
According to a recent study that polled over 532 business leaders, 85% are focused on growth as their top strategy for 2016. Of those polled, 57% anticipate growing their businesses organically and 24% plan growth through an acquisition and/or merger. Of the 57% focused on organic growth,
- 33% plan to grow via product or service expansion;
- 25% will grow via entering new markets.
However, there’s a GIANT problem worth some real exploration:
Clearly, growth is a top of mind priority for most business leaders across a variety of industries. Getting from ‘here’ to ‘there’ is an entirely different story. There is no shortage of uncertainty, stress and lack of confidence in choosing, mapping, and executing the right strategies.
In the same study of 532 business leaders, only 30% of business executives have completed planning for growth. Further, 40% feel somewhat-to-extremely stressed about business growth.
An additional survey polled small business owners to learn that while 85% expect their revenues to grow in 2016, the lion’s share of these owners worry most about their ability to grow. An overwhelming 60% cite attracting and retaining customers as their top challenge.
So, what does all of this mean for you and your organization?
Where do you stand with your plans for growth in 2016? Have you identified the right growth strategies for your business and industry, and perhaps most critically, do you have the plans in place to make it reality?
The assessment will take you no longer than 15 minutes to complete. Once complete, you can print it out for your own records, and take advantage of a free, 30-minute coaching session with me to discuss your specific situation and plans for 2016. I would look forward to helping you think through your top growth challenges, initiatives and planning for 2016.
If you relate to the challenges shared by top executives in the above-referenced surveys, I would highly encourage you to complete the assessment – you’ll look back on the 15 minutes you spent on the assessment as the spark to what helped you make 2016 your best year yet.
2016 is the year of offense.
Time for your first move.