The dynamics to achieving Hypergrowth in your organisation

As a growth coach on the UK  government’s Growth Accelerator programme I am frequently working with CEO’s and their teams from High Growth organisations. In the US a Gazelle’s company is defined as one capable of growing revenues by 20% for four consecutive years. Highly prized these Mid Market organisations are the driving force behind employment growth in many of the world’s economies.

Some research that has just been undertaken by Grant Thornton and the Growth Accelerator programme has looked at the dynamics underpinning those companies that are achieving hyper growth, with results outperforming the mean within the Growth Accelerator programme.

Hyper Growth businesses are defined by:
• Are GrowthAccelerator clients
• Have achieved 65% + increase in Gross Value Added (GVA)2
and/or employment growth in year one of GrowthAccelerator (FY12/13)
• Have achieved GVA growth of >£500,000 or employment growth of > 10 people

The concept of Hyper Growth is a simple one,it is a business that has grown at a remarkable rate, far beyond what is commonly considered “high growth”. By analysing the characteristics, culture, nature and approach of the businesses and – in particular – the leaders who have presided over this period of exceptional growth we can begin to ascertain what are the characteristics that underpin exceptional growth in a company.

 

The 15 traits of Hyper Growth companies identifies a number of characteristics that you would expect in many High Growth organisations, so what is it that sets this group apart.  I have written over recent weeks the importance of a Growth Mindset and having the confidence to invest, make the tough calls and bring on board the very best talent.   I have also studied Multipliers by Liz Wiseman and again many of the traits that she describes in high performance leaders are reflected in the traits above.

I am working with around 5 or 6 hyper growth companies,  using the definition from Grant Thornton.  The major factors from my point of view would be ambition, setting down BHAGs ( Big Hairy Audacious Goals as described by Jim Collins),  having the discipline and tenacity to  overcome set backs and Massive FOCUS on executing the plan.  The other key factor is then the ability to let go and bring in a talented team who are able to drive exceptional growth while look after both customers and the bottom line.

Verne Harnish, author of Mastering the Rockefeller habits recognises four disciplines that high growth companies need to master: Strategy, Cash, People and Execution. His new book Scaling Up will be an excellent reference point for any company looking to achieve outstanding growth prospects.

In my next Blog I will investigate more of the Hyper growth Insights study which you can read more about by clicking on the link.

 

Author:   https://plus.google.com/u/0/+NealeLewis/posts