What goes into being a high growth company? Nick Hull, BisTrack customer account manager at Epicor Software, has the answer.
High-growth companies are powered by people who understand what it takes to get set for growth—individuals with the vision and drive to take their business to the next level. We call these people the ‘Grow Getters’.
These characteristics come directly from research commissioned by Epicor and conducted by Morar Consulting. Insights are based on interviews conducted with more than 2,450 individuals in a variety of industries worldwide.
1. Grow Getters focus outside the business
Companies focused on growth are two times more likely to look for external opportunities to grow their business, than low-growth companies.
2. Grow Getters plan strategically
High-growth companies are two times more likely than low-growth companies to see strategic planning for growth as important.
3. Grow Getters don’t stress it
Low-growth companies are more likely to find growth stressful rather than rewarding, which could be due to a lack of planning. High-growth companies are three times more likely to find growth rewarding, rather than stressful.
4. Grow Getters are optimistic
Ninety-five percent of high growth companies are optimistic about the coming year. Does growth result in optimism, or does a Grow Getter’s optimism help to achieve growth? Regardless, you’re more likely to feel positive about the year ahead when you have a strong plan in place for growth—based on insight and analysis.
5. Grow Getters believe in their capabilities
Eighty-six percent of high-growth companies feel well placed to respond to growth opportunities, compared to just 43% of low-growth companies.
6. Grow Getters embrace change
Seventy-six percent of high growth companies prefer constant innovation over business stability. High-growth companies learn to embrace change, and investing in the right ERP solution can give them the visibility and agility they need to quickly respond to changing market demands and stay ahead of the competition.
7. Grow Getters invest where it counts
To become a high-growth business, merchant companies should focus on technologies that make them agile and operationally efficient, but also invest in solutions that can help them better understand their customers and deliver a better service experience.
8. Grow Getters invest in new technology and innovation
Eighty-eight percent of high growth companies are planning significant investments in technology and innovation this year.
9. Grow Getters demand quick returns from IT spend
Fifty-nine percent expect to see returns within a year and only 24% within six months. Should you be asking more of your investment?
10. Grow Getters focus on the customer
Eighy percent of highgrowth companies cite changes in customer needs in the digital space as having critical impact on their ability to achieve business growth in the next year.
Grow Getters therefore clearly know what growth looks like for their business and how to achieve it. They invest where it counts and have an integrated business management system that gives them the essential visibility and agility needed to act for growth.
High-growth
companies are powered by people who understand what it takes to get set for
growth—individuals with the vision and drive to take their business to the next
level. We call these people the ‘Grow Getters’.
These
characteristics come directly from research
commissioned by Epicor and conducted by Morar Consulting. Insights are based on
interviews conducted with more than 2,450 individuals in a variety of industries
worldwide.
1. Grow Getters focus outside the business
Companies
focused on growth are two times more
likely to look for external opportunities to grow their business,
than low-growth companies.
2. Grow Getters plan strategically
High-growth
companies are two times more likely than
low-growth companies to see strategic planning for growth as important.
3. Grow Getters don’t stress it
Low-growth
companies are more likely to
find growth stressful rather than rewarding, which could be due to a lack of
planning. High-growth companies are three
times more likely to find growth rewarding, rather than
stressful.
4. Grow Getters are optimistic
Ninety-five
percent of high growth companies are optimistic about the coming year. Does
growth result in optimism, or does a Grow Getter’s optimism help to achieve
growth? Regardless, you’re more likely to feel positive about the year ahead
when you have a strong plan in place for growth—based on insight and analysis.
5. Grow Getters believe in their capabilities
Eighty-six percent of high-growth companies feel well placed to respond to growth
opportunities, compared to just 43% of
low-growth companies.
6. Grow Getters embrace change
Seventy-six
percent of high growth companies prefer constant innovation over business
stability. High-growth companies learn to embrace change, and investing in the
right ERP solution can give them the visibility and agility they need to
quickly respond to changing market demands and stay ahead of the competition.
7. Grow Getters invest where it counts
To become a
high-growth business, merchant companies should focus on technologies that make
them agile and operationally efficient, but also invest in solutions that can
help them better understand their customers and deliver a better service
experience.
8. Grow Getters invest in new technology and innovation
Eighty-eight
percent of high growth companies are planning significant investments in
technology and innovation this year.
9. Grow Getters demand quick returns from IT spend
Fifty-nine
percent expect to see returns within a year and only 24% within six months.
Should you be asking more of your investment?
10. Grow Getters focus on the customer
Eighy
percent of highgrowth companies cite changes in customer needs in the digital
space as having critical impact on their ability to achieve business growth in
the next year.
Grow
Getters therefore clearly know what growth looks like for their business and
how to achieve it. They invest where it counts and have an integrated business
management system that gives them the essential visibility and agility needed
to act for growth.