Growth Strategy
Every company and organization has a unique potential for growth—but only a few manage to maximize it.
WHAT ARE THE GROWTH ISSUES AFFECTING BUSINESSES?
The business landscape and its operational environment are in constant flux. Organizations frequently find themselves in one of the following situations:
Growth Plateau: The company maintains its current status but struggles to identify its next phase of growth.
Rapid Growth: The company experiences substantial growth and everything is moving swiftly. Quick decisions made during this phase have long-term impacts on the organiZation and require careful consideration.
In trouble: The company is facing difficulties that are affecting it negatively and seeks to restore stability or foster growth.
Additionally, companies might grapple with particular issues, such as human resources or entrepreneurship succession projects.
WHAT IS A GROWTH STRATEGY?
Entrepreneurs often struggle to prioritize the many business opportunities they encounter. By developing a growth strategy, they can evaluate the estimated revenue potential of each opportunity over several years, in either the short or medium term. A growth strategy also serves to assess if the volume of opportunities is sufficient to achieve set objectives and to explore new avenues or revise goals if the situation so requires.
A growth strategy can serve to address various aspects based on the organization’s needs, including:
- reviewing the business model and business plan
- analyzing growth opportunities
- examining assets and the organization’s strategic positioning
- identifying market trend changes
- selecting innovative approaches to management practices, products and services
- providing a deeper understanding of customer needs to identify unique and distinctive aspects of the company’s products and services
When companies are in a precarious situation or facing a crisis, they can use their growth strategy to intervene swiftly and react in the short term to find development levers. A growth strategy can also drive meetings with potential investors or better alignment between daily operations and research and development.
Moreover, a growth strategy can guide the company’s trajectory and help it plan its growth in the medium and long term. It can help navigate entrepreneurial succession challenges, devise a merger and acquisition strategy, identify the best opportunities and measure risks.
WHAT IS THE TIMELINE FOR IMPLEMENTING A GROWTH STRATEGY?
A growth strategy can be developed over a period of three to four months, regardless of the company’s specific situation.
WHAT ARE THE ELEMENTS OR DELIVERABLES OF A GROWTH STRATEGY?
Typically, a growth strategy includes the following:
- A report summarizing discussions and reflections from the strategic reflection exercise
- Prioritizing opportunities according to quantified objectives
- Updating the business plan
- Conducting interviews with clients and partners
- Preparing and facilitating reflection workshops with the management team and key personnel
- Analyzing existing documentation such as financial statements and other relevant documents
Through a participatory approach with entrepreneurs, ideas are extracted and organized to establish a sustainable strategy that reflects a strong and relevant strategic positioning for the company. It prioritizes opportunities with the greatest potential for achieving set objectives.
WHO CAN BENEFIT FROM A GROWTH STRATEGY?
Espace Stratégies works with companies of all sizes but has developed particular expertise with companies ranging from five to 250 employees and revenues ranging from $500,000 to more than $20 million. Espace Stratégies can assist any type of company with their growth strategy, regardless of its field of business.
Combining participatory methodologies, an understanding of market evolution and recognized expertise in strategy, Espace Stratégies adapts to the company’s context, identifies development opportunities and establishes relevant connections with key stakeholders. Additionally, Espace Stratégies uses its extensive knowledge of the business ecosystem to engage experts in specific domains to complement its expertise.
THE ESPACE STRATÉGIES APPROACH
Espace Stratégies is an independent firm that provides an outside perspective on the challenges faced by various organizations. Our approach is inclusive, participative and collaborative, directly involving the client in implementing the growth strategy. By the end of the process, the client has already integrated solutions developed during the workshops, having actively participated in the entire reflection. This empowers them to adopt tools for developing autonomy.
We encourage our clients to delve deeper during work sessions and commit to taking an external and independent perspective when evaluating ideas.
OTHER SERVICES
For whom?
portfolio
Ludik Designer Confiseur
Ludik Designer Confiseur is a company that produces and markets confectionery products, including the brands Kandju and Marie & Franky. In a period of significant growth, the company enlisted Espace Stratégies to develop a concrete strategic plan that could be executed swiftly. This initiative was undertaken to address the many organizational and strategic challenges while engaging all stakeholders in the anticipated changes.
Technorm
Technorm is a consulting firm for the construction industry, specializing in codes and standards, building fire safety, technical-legal expertise and continuing education. Espace Stratégies has facilitated several strategic reflection workshops with the Technorm leadership team to provide guidance for their future growth and the integration of a new shareholder team.
Bouthillette Parizeau
Bouthillette-Parizeau (BPA), a 500-employee engineering consulting firm, hired Espace Stratégies for its strategic planning. As part of this mandate, ES organised several workshops with the management team and a series of meetings to refine its strategic review for an upcoming strategic investment. This exercise enabled BPA to secure a significant investment from the Caisse de dépôt du Québec for the company’s future growth.
