Creating the 'Growth Mindset' sounds like voodoo or consulting blab. But here's the thing: your clients want to grow their business, they're stuck, and you have the opportunity to help. Where are you going to start?
62% of clients want to grow business profits and cash, and 14% of them need to grow equity value to fund their wealth plan1. But they're stuck, and you're trying to help them. Truth is, you should use business analysis to create consensus about where they are, where they are going, and what they'll need to do to get there.
Think of it this way: you and some friends are taking a trip. Would you rather have a voice in planning the trip, or be told to shut up and get in the car?
You can use business analysis as the catalyst for defining growth and getting the senior team into a growth mindset. Job 1 is getting the Senior Leadership Team to agree on where they are and where they are committed to going. Commitment is the key. What's another way of saying 'commitment?' It's Growth Mindset - including accountability to the goal and to the team.
Side note: If your client has gross revenues below $1MM but wants to get to $2MM, $5MM or more then start with the end in mind using a sophisticated tool that will apply through this entire journey.
You can use your initial analysis/discovery process to create the growth mindset. If you do this manually, meet with the CEO and then meet with each of the senior leaders. Compile your notes, and have a meeting with your client's senior team. If you use CoreValue, we'll help you generate a Senior Leadership Alignment Report.
You might assume that getting everyone to the same place on the map (so that we can undertake the journey together) is an 'execution' challenge. Execution in the Growth-Drive playbook is the third phase of the growth cycle: (1) 'Analyze' to figure out where you are (CoreValue is the best option, but you can also use something like Value Builder or your current manual process); (2) 'Design' a project plan, and then (3) 'Execute' the project. Wash, rinse, repeat.
You can learn the Growth-Drive playbook for building a thriving advisory business this July in the Growth-Drive Launch Course. After completing the course you will have the knowledge and tools you need to successfully start the growth conversation and deliver 2 valuable new services. Click here if you'd like to learn more.
Getting the Senior Team aligned and in the right mindset is actually an Analyze project, to be completed as early in the engagement as possible. You're already thinking "Wait, but isn't this execution because I have to do something with the client?" Yes - but. This is actually about democratizing information, which will lead to a better result from the CoreValue Deep-Dive Analysis. Chief says, "We are here." Team says, "Not really." Level-setting discussion ensues... and NOW you've accomplished 2 critical tasks:
- Your client has a consensus-driven grasp on their true current state
- You've created transparency about- and commitment to- the strategic 'growth' destination
Coming full circle, you've brought the team together, agreed as to where the business is, and created agency in each senior leader around growth - you've started to create the growth mindset. You're making believers of the folks who will make the difference between the success and failure of the growth project. It's starting with the end in mind.
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 Source: CoreValue Software's analysis of over 50,000 private businesses