Sustainable growth is a fairly easy concept to explain, as it simply pertains to the act of planning and growing your organization at a steady pace – a pace that can be maintained and built upon, without getting overwhelmed by the added expenses and responsibilities that come with business growth. In other words, sustainable growth is the result of intelligent designs and implementations steps towards growing a company beyond its previous size, without letting it fold in upon itself.
The difficult part, however, is the actual process of doing so. Explaining a concept in theory and implementing it in practice are two very different things after all. Keeping that difference in mind, we are going to highlight a few crucial aspects of ensuring sustainable business growth next.
Benchmarking is one of the preliminary steps to take, even before planning a sustainable growth strategy. Benchmarking results provide us with specific and general data regarding three primary aspects:
- How well the competition is doing
- How well the company is doing concerning its competitors
- What the best practices are in the field concerned
- How big the gaps are between those best practices and those of the company in question
There are various subsections of a corporate benchmarking process, which may yield more specific results regarding similar aspects. For example, a sales growth consultancy should help you with benchmarking the organization’s:
- Go-to-market model
- Sales processes and skill-based executions
- Results yielded by implemented processes, in comparison to established best practices in sales
Go-To-Market Strategy (GTM)
There are multiple ways to describe a go-to-market strategy, as there are slight distinctions, depending on the concerned industry. Nevertheless, the goal of all GTM strategies is to provide a unique selling point to customers/clients to gain a significant advantage over the competitors. For companies that are only starting out, this go-to-market strategy is the one on which their entire new venture’s success remains dependent, but for pre-established companies looking to expand, the effects are more specific.
This is to say that GTM strategies in the case of expansions will determine the chances of succeeding in that expansion, as well as the sustainability factor of the sales growth strategy. You will likely require the help of an experienced sales growth expert to design your new GTM process playbook for guiding the sales reps.
Training and Coaching the Sales Representatives
Now that we have a sustainable growth strategy, the next step is to train your employees, on whom the execution of those strategies is, of course, highly dependent. This is where your company will need the help of a sales growth consultancy like Winning By Design. They are experts at training and coaching sales representatives with the necessary knowledge, understanding and skills so that they can become seamless executors of your new sustainable growth strategy and/or GTM strategy for the business.
You should expect your consultancy to also prepare guidance playbooks for providing step-by-step directions to your existing workforce, just as mentioned in the previous point. The actual quality of the guidebooks may vary depending on which company you choose to hire, but they should be as thorough as possible so that everyone in the sales department can be in sync with the new strategy.