Closing 'The Growth Gap'
Posted on September 02, 2020 by Paul O'Dea
Too many CEOs spend all their time on the urgent! In Covid 19 times, this is understandable.
However, this firefighting makes teams feel like they are being pulled all over the place.
CEOs can be accused of lacking a coherent plan or being too reactive.
Use a ‘Growth Gap’ or North Star metric to help.
Let’s say that the growth gap is agreed at €10m, then breaking this down …
€5m more from existing customers
€2m from new customers
€3m from new product
... starts to bring coherence to the discussions.
When thinking about your ‘Growth Gap’, ask your team the following questions:
1. What rate is the market growing at?
2. How does our growth compare to our competitors?
3. What is holding us back?
Starting out by agreeing on the growth gap is a better way than exhaustive analysis. It can also deliver more actionable results!
