Michael Treacy, keynote speaker at OneVoice 2007, the Financial Services Institute recent broker-dealer conference, insists that many companies don’t or can’t plan for consecutive years of growth. That’s because they’re too comfortable with their current growth, or lack there of; they also may lack the discipline and/or needed managerial talent.
The consultant and former MIT professor of management says that double-digit growth comes down to managing execution rather than devising strategy. And this means discipline, namely in the following five areas:
1. Retaining your customer base; keeping the customer churn rate down.
2. Increasing your market share; meaning that rivals have to lose some.