I’ve come to the conclusion that there just isn’t a universal definition to business or organizational growth.
Traditionally growth means a larger top line and a corresponding larger profit line, with a corresponding bottom line.
But it isn’t all about size.
What about the following:
- Smaller top line but a higher profit margin
- Same top line but with less effort expended.
- Slightly larger topline with the same expense levels.
What about the methods for growth:
- Growth through acquisition.
- Growth by obtaining better customers
- Growth through hiring better staff
- Growth by product development
- Growth by good old fashioned improved sales.
Growth needs to be defined by the organization wanting growth. And there are all sorts of ways to define growth and how to achieve it. What is common is that it is particular and specific to each business or organization.
That and it’s tied to becoming better than you already are.