What is a Growth Strategy?
A Growth Strategy aims to increase the size and scope of an organization or business in order to achieve specific goals. It is used to identify and pursue opportunities for growth and the action steps to successfully execute the plan.
What's included in this Growth Strategy template?
- 3x Growth Focus Areas
- 12x Growth Objectives
- 22x Growth Projects
- 20x Growth KPIs
Who is this Growth Strategy template for?
This Growth Strategy template is relevant for organizations and businesses that are looking to grow and expand in order to achieve their goals. It provides a structured approach for identifying and assessing potential opportunities for growth, as well as developing and executing plans to achieve those goals.
How is this Growth Strategy template relevant to your organization?
This Growth Strategy template enables organizations and businesses to identify potential opportunities for growth and develop and implement plans to achieve those goals. It can help organizations and businesses to prioritize their efforts and make sure they are taking advantage of the best opportunities for growth. It can also help to ensure that resources are being used efficiently and effectively in order to maximize results.
1. Define clear examples of your focus areas
Focus areas are broad categories used to group problems or challenging areas within your organization. Creating focus areas helps guide your organization on what areas are a priority to work towards. If you’re struggling for inspiration, try to think of the categories within your organization that you want to focus on and start creating strategic focus areas from there.
Examples of strategic focus areas that could fall under a Growth Strategy could be: Market Leadership, Distribution & Delivery, and Customer Experience.
2. Think about the objectives that could fall under that focus area
How could you best encapsulate this focus area? What goals could you set and act upon to achieve a positive result in this focus area? These are the sorts of questions you want to answer when thinking about setting up objectives. A strategic objective usually has to be specific and measurable to cause enough impact and effectively explain what you want to achieve.
Examples of some objectives for the focus area of Market Leadership could be: Optimize retention; Achieve rank among the best places to work in the country; Launch new product segment; and Continue top-line growth that outpaces the industry.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are important metrics that make sure that you can accomplish your business objectives. KPIs not only take into account numerical measurements to help track your progress but also enable you to review the performance of your goals so you can accordingly make adjustments in your execution to achieve your strategic goals.
An example of a KPI for the objective Continue top-line growth that outpaces the industry could be: Achieve ARR by 2025 $80M.
4. Implement related projects to achieve the KPIs
Projects can help you and your team understand how to adapt, improve, learn from, and better implement processes that can help you achieve your end strategic objectives.
An example of a project to enhance Market Leadership within your organization could be: Fix a competitive pricing structure; and Analyze competitors and build a competition matrix.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Make sure your strategy is front and center with Cascade. You can plan, execute, measure and adapt your strategy in one easy-to-use platform and make sure your strategic plan is connected to on-the-ground execution.
Get inspired by this Growth Strategy template and launch your strategy in Cascade; it’s $0 forever.