Every company, every organization, possesses a unique growth potential – but only a few manage to fully exploit it.
WHAT ARE THE GROWTH CHALLENGES FACING 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. Rapid decisions made during this phase have long-term impacts on the organization, necessitating careful consideration.
Struggling: The company faces specific difficulties negatively impacting its operations 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 encounter numerous business opportunities and prioritizing them can be challenging. Developing a growth strategy allows for the evaluation of estimated revenue potential for each opportunity over several years, whether in the short or medium term. The growth strategy also assesses if the volume of opportunities is sufficient to achieve set objectives, exploring new avenues or revising goals if the situation demands.
A growth strategy can address various aspects based on each organization’s needs, including a review of the business model and business plan, analysis of growth opportunities, examination of assets and the strategic positioning of the organization, identification of market trend evolution, selection of innovative approaches in management practices, products and services and a deeper understanding of customer needs to identify unique and distinctive elements in the company’s products and services.
Whether a company is in a precarious situation or facing a crisis, a growth strategy allows for swift intervention and short-term reactions to find development levers. It can also lead to preparing 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 plan its growth in the medium and long term. It can assist in navigating entrepreneurship succession challenges, devising a merger and acquisition strategy, identifying the best opportunities and measuring risks.
WHAT IS THE TIMELINE FOR IMPLEMENTING A GROWTH STRATEGY?
A growth strategy can be developed over a period of 3 to 4 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 elements:
- A report summarizing discussions and reflections from the strategic reflection exercise
- Prioritization of opportunities according to quantified objectives
- Updates to the business plan
- Conducting interviews with clients and partners
- Preparation and facilitation of reflection workshops with the management team and key personnel
- Analysis of existing documentation such as financial statements and other relevant documents
This participatory approach with entrepreneurs allows for the extraction and organization of ideas 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 IMPLEMENT A GROWTH STRATEGY?
Espace Stratégies collaborates with companies of all sizes but has developed particular expertise with companies ranging from 5 to 250 employees and revenues ranging from $500,000 to +$20 million. Espace Stratégies can assist any type of company in this process, regardless of the industry.
With participatory methodologies, an understanding of market evolution and recognized expertise in strategy, Espace Stratégies can adapt to the company’s context, identify development opportunities and establish relevant connections with key stakeholders. Additionally, due to its extensive knowledge of the business ecosystem, Espace Stratégies can engage experts in specific domains to complement its expertise.
ESPACE STRATÉGIES APPROACH
Espace Stratégies is an independent firm providing an external perspective on the challenges faced by various organizations. Our approach is inclusive, participative and collaborative, directly involving the client in the growth strategy’s implementation. By the end of the process, the client has already integrated solutions raised during the workshops, actively participating in the entire reflection. This empowers them to adopt tools for developing autonomy.
We encourage our clients to go beyond during work sessions and commit to evaluating ideas with an external and independent perspective.
Ludik Designer Confiseur is a company engaged in the production and marketing of confectionery products, including the brands Kandju and Marie & Franky. In the context of significant growth, the company enlisted the services of Espace Stratégies to develop a concrete strategic plan that could be swiftly executed. This initiative aims to address the numerous organizational and strategic challenges while engaging all stakeholders in participating in the anticipated changes.
Technorm is a consulting firm for the construction industry, specializing in codes and standards, building fire safety, technical-legal expertise and ongoing training. 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 (BPA), a 500-employee engineering consulting firm, engaged Espace Stratégies for its strategic planning. As part of this mandate, ES organized several workshops with the management team and a series of meetings to refine the strategic thinking 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.