GROWTH & EXPANSION
Are you looking to grow your business to the next level?
Growth aspirations are the biggest reason our customers engage our services and as non-executive directors, it’s one of the areas we normally get involved in.
Typically, there are two main types of business growth. The first being what we describe as normal incremental growth which requires good sales and marketing skills. The second is about growing to the next level and this involves changing the structure and running of the business.
At NXD, while we get involved in both types of business growth, there are lots of other people and organisations who can help with the first incremental type. There are however far fewer who can help to take growth to the next level. It’s for this very reason that we have introduced a new service at an affordable fixed price.
If you want to successfully grow your small business to the next level, unfortunately, simply focusing your attention on sales and marketing isn’t enough. Other major changes need to take place within the company and without this, the company can potentially become damaged.
A typical example is when a business has been founded and grown by an owner-manager and it has now reached a level where one individual can no longer manage everything. Sadly, this person often becomes the blockage to continued growth – while it differs from business to business, we often find this occurs at around the £1m turnover level.
Other examples include taking on of a new larger fixed cost base (often property or production related), forming a formal board to replace a less formal management team and introducing a new IT system to improve controls and management information.
If you’re in a position where you want to grow your business and think you could be facing some ‘next level’ challenges, feel free to contact us and we will be happy to have an initial exploratory discussion. With no cost or obligation, our business advice will simply help to ascertain whether we can and how we can provide assistance.