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How to achieve long term growth

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We’ve established three important universal ingredients necessary to achieving this holy grail of managing company growth:

1. Stay physically close to your customers

Let the customer dictate how and where you do business; remember, they are the reason that you have a business in the first place. It is difficult to overestimate the value of regular face-to-face contact with clients. Being on the ground alongside them allows you to respond quickly to any requests, and the close proximity also opens the door for further business opportunities generated by the unique business micro-community in which they exist – thus accelerating your company’s growth.

2. Find a niche – set yourself apart from the crowd

Whether it’s your recruitment style, account management formula, or your company branding, it’s vital to ensure you have a USP that differentiates you from similar businesses. 

To take one common example, the technology services market is already extremely saturated with new start-ups entering this sector at an alarming rate. Providing services for your customers that are bespoke, delivered personally by a trusted team and never out-of-the-box is vital to establishing your identity, especially in the early days. 

3. Have a carefully refined recruitment strategy

It’s important to base any recruitment decisions around the values and knowledge set of your existing clients; hiring in this way will ensure new employees settle into your team dynamic and have a good relationship with clients from the outset.

Graduates are also another valuable resource pool that businesses often fail to invest in adequately, especially if they are just trying to fulfil quotas. Graduates can bring in new approaches and ways of thinking that can help to keep a business grounded, and also provide a solid foundation for future growth. 

Much of this comes naturally to new business leaders and entrepreneurs, but even when this is the case, it’s easy for businesses to lose sight of these cultural values as they grow and expand. It’s important to not only cultivate the environment outlined above, the challenge is maintaining it as the business evolves.

Richard Acreman is CEO of high growth technology services company WM360

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