Sustainable growth doesn’t happen by chance. It is more than just being in the right place, with the right plan, at the right time. You need the right people on board to transform opportunity into reality.
The first step in growing a business is identifying the areas you can expand into. Developing a clear vision is the catalyst for opening doors to new opportunities. But to effectively step into new spaces, you need to inspire, empower and energise your people to make the journey with you.
Expanding into a new sector takes bravery – it also requires stepping out of your business’ comfort zone. Businesses that find clever ways to stretch their proposition into new shapes – or new markets – often get a ‘first mover’ advantage, gaining ground on the competition as a result of being first to market in a new product category.
Leaders need to be the driving force behind building a positive culture for success. And Butterfly has identified five key principles that leaders should follow to foster successful sustainable growth.
Be the champion
Leaders need to be bold in the pursuit of big bets – this means thinking wider and longer than the business has dared to do before. Disrupting the status quo means considering the business that you’re in, rather than what your business sells or produces.
Being the first advocate of your vision requires believing and behaving differently. Putting yourself in this uncomfortable position, being prepared to be the odd one out – it inspires confidence in your team.
Bring the business on the journey
You can be the visionary leader driving this sustainable growth culture – but strategy can’t exist separately to those who action it. Being easy to follow is vital. The what, why and how must be clearly communicated – especially to those in C-Suite positions.
Building a strong business case from day 1 makes it easier for others to say yes. Develop an understanding of the language that resonates with, and inspires action from, senior management. Identify the metrics that matter to them. Establish dialogue early and often and use every available asset and tool to evidence the strategic thinking and opportunity for growth.
Give ownership to your team
Leaders shouldn’t carry the burden of building a sustainable growth culture by themselves. Attracting the first wave of followers is only the beginning – you need to embrace them. You want your teams asking:
- How can we make our global vision a local reality?
- How can we use this idea to springboard innovation, comms, experiences and activations?
Harness their energy and give them space to put their own spin on your vision. Nurturing this collaborative relationship not only secures internal buy-in – it also provides much-needed momentum.
Create a movement
Your vision will take on a life of its own – and you should embrace the twists and turns that you can’t anticipate. Sustainable growth is about the movement, no the individual. And this means trusting those around you.
Businesses invest significant time and resources into building diverse teams full of talent. Having diversity of thought – and accepting there are alternative paths to yours – will maximise your movement’s potential.
Maximise the tipping point
The aforementioned principles allow you to build the right leadership culture that encourages internal buy-in. But identifying sustainable growth opportunities to target isn’t enough – you need to valorise them in order to maximise the tipping point.
Making growth opportunities feel actionable requires enthusiasm. And outlining how to win – as well as defining where to play – across the portfolio is the first step towards achieving this.
In this season’s Masterclasses, Butterfly has been on a mission – to demonstrate how brands can foster a Sustainable Growth culture. We are wrapping up the series by showcasing how to maximise growth potential through practical approaches.
Our first Sustainable Growth Masterclass focussed on our Business Growth framework. Shifting your mindset away from what your business does, to what business you’re in. This opens doors to new opportunities currently beyond your competitive set – and offers the chance to develop a clear future vision.
We followed this up by shaking up Brand Purpose. Going beyond your brand compass is crucial – businesses that invest time and resources on the things that genuinely matter will quickly see bottom-line profits soar. A commitment to having a positive impact on the world should be the driving force behind all operations.
Now it is time to zoom in on the specifics. When you have clearly defined your opportunities – how can you effectively realise growth? Butterfly’s ‘Leading A Sustainable Growth Culture’ Masterclass will focus on four key principles:
- Be the vision and champion
- Be easy to follow and instil confidence
- Give ownership to others – embrace followers as equals
- Bring the business on the journey
We will be joined by a number of esteemed industry leaders sharing insights and recommendations on how to take the next step. These include:
- Rebecca Haigh – Innovation, Insights & Strategic Planning Director at Heineken
- Fenny Léautier – Head of Marketing Insights & Analytics Personal Health at Philips
- Shuchita Pai – Director, Growth Opportunities, Danone