Carlsbad Chamber of Commerce Article – Business Growth & Newborns
Our third child was born recently and we now have three boys under 5 years of age. Yes, it’s busy! We are regularly asked, How is it all going? Our newborn is great; he sleeps and does everything as he should, he is calm, cute and predictable . But around him is a little chaotic! His other siblings, the new family rhythm, new routines, not enough arms/warm bodies at crucial moments..
In answering this question I realized the strong correlation to growing a business. (We at Park Strategy management consulting are constantly thinking about how to grow our clients business!). The product or service that got the growth going is usually great (like a baby). It’s the things around it – people, processes, priorities and cash flow – that typically need attention and can be a little chaotic. Focus is needed to clear bottlenecks and enable growth and scaling to occur for motivated owners & company leaders.
How do we drive growth for clients? At Park Strategy, we start with an initial diagnostic assessment on the client. Honed from years of managing, owning, creating and being engaged by businesses from start-ups to $100million in revenue, it zeroes in on the limiting factors to higher company performance.
Over the years, we have discovered these limiting factors to be relatively common across all businesses under $40million in revenue, regardless of the business sector. To illustrate, typically one of these limiting factors revolves around having the right people in the right place at the right time. In our experience, for key team member positions, different growth stages require different skill sets coupled with the right affiliates with company culture and direction.
After the initial assessment of limiting factors, we formulate a plan and execute to achieve agreed, defined outcomes. We draw upon global experience and expertise within our team to arrive at world-class results. Our results speak volumes with client revenues growing on average 32% in the 12 months following an engagement with Park Strategy. One client was the 36th fastest growing company in San Diego in 2014.
Prior to our birth, a friend wisely predicted, you and your wife have to move from man-to-man (2 children) to zone defense (3 children) How accurate he was. When all three children need your immediate attention we need to isolate the biggest issue first, then the next, and so on. Just like growing a business..
Craig R. Park is the principal of Park Strategy LLC, a Carlsbad management consulting company dedicated to realizing client’s full business potential. Park Strategy partners with Founders & CEOs of small to mid-sized companies to provide the tools, solutions and outcomes required for their success.