As consumers talk about the cost of living crisis, now is the time to focus on growth . Revenue growth is a critical driver of corporate performance. Consistent revenue growth is difficult to deliver but a “growth code” can give you focus.
- Put competitive advantage first. Start with a winning, scalable formula.
- Make the trend your friend. Prioritize profitable, fast-growing markets.
- Don’t be a laggard. It’s not enough to go with the flow—you need to outgrow your peers.
- Turbocharge your core. Focus on growth in your core industry—you can’t win without it.
- Look beyond the core. Nurture growth in adjacent business areas.
- Grow where you know. Focus on growing where you have an ownership advantage.
- Be a local hero. Commit to winning on the home front.
- Go global if you can beat local. Expand internationally if you have a transferable advantage.
- Acquire programmatically. Combine healthy organic growth with serial acquisitions.
- It’s OK to shrink to grow. Ruthlessly prune your portfolio if you need to.
summarised from McKinsey ten rules of growth