Capitalize on quick growth by using interim executive secrets that keep you moving in the right direction.
A company that is scaling needs to optimize for growth. Interim executive secrets share some ways to make make sure your business is growing sustainably for the long-term.
Focus on a number
Your company needs a north star. Everybody in the team needs to know what growth metric they are working towards. Furthermore, everybody needs to be working on activities that focus on growing that number.
Most commonly, that growth metric is your revenue. But you can dig deeper, and focus on numbers that are responsible for a growth in sales. That could be repeat sales, customer engagement or product use. Integrate that metric into your strategy and make it the core objective of all tasks and projects inside the organization.
Merge marketing with growth
A year after launching, Uber merged its Product and Growth teams. As both functions impact each other, it made more sense to the ride-sharing company to have both teams work together. The same applies to businesses elsewhere. Businesses where marketing and growth in sync are more likely to reach scalable growth quickly.
Use data to make decisions
A large driver of growth is data. Collect meaningful data and present it in a way that helps you understand your company’s growth. Information on your revenue, goals, and customers helps reveal trends and insights, leading to better-informed business decisions and strategies.
“I would say that ultimately the company becomes a growth team in the sense that you use data to make your decisions,” says Gustaf Alströmer, former product lead for Growth at Airbnb. “You basically look at the data because it gets so hard to predict what are the right product decisions to make.”