I have the same conversation every day with businesspeople that have made it onto the Inc. 5000 list. (A list of America’s fastest-growing private companies, as rated by Inc. magazine.) They want answers as to why their companies were able to enjoy 4- or 5-digit growth within such a short amount of time, yet now their growth rates are stagnating.
-They say things like, "I manage people in a company that made it onto this list, but now we're losing momentum. Our expansion is slowing down."
What's the answer to this common problem?
One of the reasons these companies fail to continue in their rapid expansion is that instead of shifting their goals and priorities, they just continue the practices that got them growing in the first place. This may sound strange to you because, as business leaders, we like to continue to do what we already know works.
But here are some facts that may surprise you:
-Companies must change their priorities every time they expand.
-Time, money, and resources that were spent on expansion must be reallocated toward a different long-term goal.
-The leadership mindset that allowed your company to expand so quickly at first may actually hinder your long-term growth. It’s imperative to think of things in a different way now, and I can show you how.
Since 2012 I've helped over 30 of Inc. 5000 companies and making it onto the Inc. 5000 isn’t easy. Do the math and you’ll find that there are only a mere 15 companies that make the cut per million people in the United States (that's 15 in a Million).
PS. May 22, 2020, is the final day to apply for the 2020 Inc. 5000