Will you survive your next business growth crisis?
Speaking recently at the 2013 CRN Fast50 awards, Carpe Diem Consulting’s Managing Director Bruce Rasmussen talked about the salesperson of the future and how achieving successful sales in the 21st Century is largely due to being able to predict the buyers’ next stage in their journey – which can be achieved by mapping the sales process to the new buyers journey.
This can be applied to business growth in general – wouldn’t it be useful if you could predict your organisation’s growth stages so you can set up the necessary infrastructure for each stage?
An interesting statistic regarding the growing businesses of the future would be around how many of them go broke in the first few years. Unfortunately, several studies show that in Australia, 60% of small businesses fail during the first three years of management (The Australian Bureau of Statistics).
Research suggests that just because the business is growing, doesn’t mean it will survive. Growth has to be sustainable – and growth certainly sucks cash so it needs to be pursued just as carefully as does managing a business that is doing poorly.
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