Growth Probability: How to increase your chances of success.
It was October 2016. A new day, a new client, yet I was listening to the same old boardroom debate.
The directors were all passionate about their business, but they had wildly different views of how best to achieve the growth they desired. For one director, it was all about additional investment in their core product. For another director, their market was overcrowded and they needed to find new ways to grow. A side conversation was taking place about the need to invest in HR and training in order to improve staff retention. Meanwhile, the Finance Director was telling anyone who would listen that, if sales managers kept discounting to win deals, they would struggle to generate the profits needed to invest in anything!
With such entrenched positions, I feared the day would generate more heat than light. A quick exchange of glances with the MD told me that he, too, was bracing himself for another unproductive session.
"Might this help?" I asked as I scribbled something on the flipchart in the corner of the room.
Within a matter of minutes, the mood had changed. Those same directors were up on their feet pointing at the diagram (rather than each other) and starting to find common ground.
Almost exactly 12 months on and that scribble has become known as the Growth Probability Matrix™. It forms the basis of a free online tool that helps MDs, CEOs and business owners reflect on what they’ve built so far and what might be holding them back.
A unique algorithm, based on 13 Growth Probability Indicators™ (GPIs), determines your position on the Matrix and predicts your future trajectory. For some, it will be upwards, with their chances of success increasing over time; for others, their chances will decline sharply unless they act.
Crucially, the Matrix is much easier to recall than a long 'To Do' list or a complex spider diagram, so it helps you keep sight of the bigger picture and focused on the things that matter.
It’s even more powerful when shared with your senior team. It introduces a common language that will help you all align behind a deliberately uncomplicated view of where your business stands today. Whether you are “Missing the Boat” or “Heading Off Course” or even “All at Sea”, a well-aligned senior team can prioritise actions to do something about it!
It’s not a magic wand that will solve all your problems overnight, but it will help establish a shared view of where you are now and what needs to be done to improve your chances of success. As a result, it puts you firmly in control of your growth journey.