Have you hit a 'growth stall'? If your company's growth suddenly drops sharply, you're in good company. Donald Laurie, author of Venture Catalyst, found that, over 40 years, only eight of the Fortune 50 continued to grow significantly. Three champions - 3M, HP and Procter & Gamble - have since slipped. Why?
Because managers are instructed to build on competencies rather than trying to identify new growth businesses, in which nobody is competent but customers have unserved needs. Managers should be encouraged to seek out these uncut diamonds. Stage a 'growth day' to allow them to show off potential gems. Ask two questions: What are you worried about? and How can we help? And give just one command: Meet your milestones.