Growth refers to the increase in size or quantity of something, such as a company’s revenue or customer base. It can occur naturally because of market conditions or may be deliberately pursed through various business strategies.
Strategic growth, on the other hand, involves a deliberate and planned effort to achieve growth in a way that aligns with the organisations overall goals and objectives. It involves making decisions and taking actions that are intended to achieve long-term success and sustainable growth.
Strategic growth typically involves a focus on developing and implementing a comprehensive plan that considers a range of factors. Including market trends, competition, customer needs, and the organisations strength and weaknesses. It may well involve investing in new products or services, expanding into new markets, developing new distribution channel, or pursing strategic partnerships or acquisitions.
Strategic growth is more intentional and focused approach to achieving growth that is guided by a clear sense of purpose and direction, rather than simply pursuing growth for growth’s sake.
Business Growth starts with Innovation and Data
For the advisory community to excel in providing strategic client and internal growth, they need to excel in more than just their traditional compliance work. Which is why you now see innovative advisory firms providing more diverse client services, such as digital marketing, cyber security and recruitment to outsourcing their internal support services – HR, health and safety into their clients to advise those clients regardless of their industry.
Advisory firm clients are now increasingly looking for a broader range of strategic services from their advisors, especially in terms of meeting the ever changing business landscape that their clients face, be that statutory and regulatory to the ever evolving day-to-day business risks and threats that are impacting success.
How can Risk Dashboard help?
Risk Dashboard’s unique software for advisory, provides the critical data that set’s the internal strategic pathway for new services and solutions, as without data and information where would you start the strategic growth journey?
If you would like to know more about how Risk Dashboard can help deliver a strategic growth plan internally and for clients, please contact Neil Campbell, Commercial Director at Risk Dashboard on info@riskdashboard.co.uk
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