What’s Dramatic Growth and How Do You Create It?
We often have to tell hard-working owners that they have to think DIFFERENT, not just big, in order to achieve dramatic growth!
The uncomfortable truth is that the more knowledge you accumulate in your field, the more restricted your thinking and perspective becomes.
I experienced this myself a few years ago. I was taken aback when, in the course of a conversation with a colleague, I said one thing, then another and she pointed her finger and said to me “You’re doing what you told your client not to do!” Yes, I was and I didn’t see it. Since then we’ve committed to helping even more owners think DIFFERENT to create dramatic growth.
How to Think DIFFERENT
Use these questions to start thinking DIFFERENT about your company:
What are the strategic statements that reflect dramatic growth? We help companies write strategic statements that serve as a guide and checklist for every decision. The strategic statements read like this:
We deliver X value to Y buyers for Z profit.
To achieve dramatic growth the company will need a new set of strategic statements that reflect that intent. What’s the value, who are the buyers, what’s the profit?
What new products and services can we offer? These are not tweaks or minor mods to existing offerings. These are new, as in new content, new services, new value, new pricing models, new profit levels, new sales and marketing. New for the long term, not new for a quick hit and then back to normal. Scroll down for our client story about dramatic growth by a CPA firm.
What new market can we serve? A new market requires accumulating knowledge about the people in it; writing and speaking in their language, not the one you’re used to; designing or redesigning products and services to suit their needs and desires; changing your customer service, pricing and data practices to match; perhaps reorganizing the company.
How do we design or redesign our organization to accommodate dramatic growth? The same executive team, divisions and employees are not likely to support dramatic growth. You may keep the people but change how they work; you may add new people; and eliminate roles that aren’t serving dramatic growth.
In Real Life: A story of Dramatic Growth“Hi Jerry,” I said cheerfully as I walked into his office. Jerry’s response was so out of character for a normally upbeat guy, that I was taken aback. He held up a printout of his income and expenses for the current quarter and it was grim. Barely any revenue, and all the normal expenses. A big red bottom line.
Once we sat down, he explained that his CPA firm experienced a revenue roller coaster every year. But this year was feeling seriously different.
“Why is that?” I asked.
“Because I feel frustration now, as well as pressure. Up until a year ago, I took these down times in stride because revenue always bounces back in the fall.
But now my little boy is starting to play T-ball. He has friends. I want to spend more time with him. He won’t be little for very long.”
Jerry continued, “If I don’t go to his games, he asks me why wasn’t I there. If I do go to his games, I ask myself why did I take billable hours out of the firm?”
We talked. I wanted Jerry to talk about everything that impacted his firm. The one point he made again and again was the practice of hourly billing. No work, no billings, no revenue.
After a time, I asked if he’d ever considered a different kind of fee structure. He was baffled.
“What else is there but hourly billing?”
We talked about a new pricing model: fixed fees for a bundle of value delivered to clients at the right time and to the extent needed. In Jerry’s case, he’d deliver a broad range of benefits to his clients all year long for a single annual fee. This would ensure monthly revenue. He’d alleviate the revenue roller coaster and the guilt.
This was a big mental hurdle for Jerry to overcome. We took our time discussing it from all perspectives and testing a variety of approaches. Finally, he was ready to roll out an offer to 25 long time clients. He’d deliver numerous benefits to them, including but not limited to, their tax returns, for a fixed monthly fee. No more hours billed, and unlimited access to him for questions and advice.
Twenty-three of the first 25 enrolled immediately. Money started flowing in. The next quarter’s income statement showed an entirely different picture.
The joy on Jerry’s face when he shares anecdotes about his son playing T-ball was worth every single penny invested and every single challenge we had to overcome. He told me “My son is so happy every time I’m at one of his games.”
Work with Trivers Consulting Group
We offer a range of options from half-day workshops to 90-day engagements. Every client project is designed specifically for that client. We consider the size and complexity of your business in every plan and project. Nothing is off the shelf.
- Who is in your inner circle and how do they help you create dramatic growth?
- What are your contingency plans in case an emergency interferes with your running of the company?
- How will you create dramatic growth and apply strategies that will increase revenue and profit?
Trivers Consulting Group will fill these roles. We invite you to take the first step: book a Discovery Call. You may discover that your company is a great fit for Trivers Consulting Group and that you can create dramatic growth within one year. 703-801-0345