5 Key Mindsets for Business Growth

It turns out that achieving profitable growth comes from the “choices” a Leader makes.

Growth is essential for a business; leaders aspire to achieve it, yet for most, it remains elusive. McKinsey states that 25% of companies show no growth, and over the last decade, only 1 in 8 achieved more than 10% annual revenue growth. It turns out that achieving profitable growth comes from the “choices” a Leader makes.

Do you, as a leader, make a conscious choice to grow? Or do you pay lip service to your growth ambitions and let your resolve fade if profit isn’t immediate?

Sustainable growth is challenging, but choosing a growth mindset is the essential first step, and it’s readily available to every leader regardless of the industry, economy, or business size. These growth mindset leaders think, act, and speak differently. They seek to align strategy and capabilities with customer needs, wants, and desires. They explore and invest in opportunities both within and outside their core business. They maintain their direction, commitment, and growth vision despite unexpected turbulence and surprises.

A recent article by McKinsey and Company (see reference) explores the characteristics of these leaders who make a purposeful choice to grow and follow through on that choice. 

“…changes in thoughts and actions arising from choice can make the difference between sustained standout growth and remain with the pack.”

Although McKinsey’s research focused on C-Suite leaders of large corporations, there are actionable ideas that any entrepreneur interested in profitably growing their business can use immediately. Leaders who display at least 3 of the following five characteristics (see infographic) are 2.4 times more likely to outgrow their competitor’s profitability. 


1. Emphasize ACTION over PERFECTION.


3. Know their CUSTOMERS as a PERSON.

4. FOCUS on LONG-TERM growth.


Action over Perfection. 

With clear strategic goals, objectives, milestones, and metrics, it is easier for leaders to make decisions in the face of uncertainty. This focus helps leaders maintain momentum even through turbulent times. Seeking more information or waiting for the perfect timing are merely stall tactics designed to put off making a decision

“Perfection is the enemy of progress.”

Winston Churchill

Be Willing to FAIL. 

Growth leaders understand that their core business maintains their current financial results but is unlikely to achieve profitable growth. Expanding the business by innovating into new markets, creating new businesses in adjacent markets, or building businesses through mergers and acquisitions is essential for long-term growth.

Know your Customers as a Person.

Market offerings must meet the needs of the customer. Capabilities and Competitive advantages must always relate to the customer, with all products and services providing customer solutions. 

Growth leaders can improve their chances of achieving growth by committing to innovation while identifying and understanding the needs and wants of their customers. Only by knowing the customer can the correct value propositions be developed that will appeal to them. 

“Don’t find customers for your products, find products for your customers.”

Seth Godin

Focus on Long-Term Grow.

While achieving excellence in current operations is critical, growth leaders rely less on historical budgets that feel “familiar.”, choosing instead to explore how to ignite growth. They adapted their operating model for the long term while understanding the risks inherent in the new businesses and markets they were developing. At times these “growth choices.” came at the expense of a few quarters of earnings while always envisioning their long-term growth aspirations. 

“Overnight success stories take a long time.” 

Steve Jobs

Growth leaders accelerate their results through strategic shifts to higher growth pockets within their current markets, innovate core products and services, and improve execution capabilities. They actively track and measure leading and lagging key performance indicators (KPIs) that align with organizational goals and incentives.

Communicate their Successes.

Growth leaders generate 80 percent more shareholder value than their peers over ten years. Beyond creating shareholder value, growth attracts top talent, fosters innovation, and creates jobs. Growth becomes the lifeblood of an organization, feeding the culture, elevating ambitions, and inspiring a sense of purpose. This growth story must be shared repeatedly by all, both inside and outside the organization, to continue to attract the star performers that will perpetuate the growth mindset.

“When you have a winning culture, employees can speak genuinely and convincingly about why your organization is a great place to work. And that naturally attracts people who are seeking exceptional workplaces.” Gallup

Choose the Growth Mindset today.

Making the deliberate choice to grow creates powerful momentum that drives the entire business toward its vision and creates alignment between executives and frontline employees. The 5 Mindsets for growth highlight essential elements leaders need today to achieve profitable, sustaining growth. Focus diligently once they have made a deliberate and purposeful choice to grow.

5 Key Mindsets for Business Growth





Analysis Paralysis…try this Instead

A decision is a judgment. It is a choice between alternatives. It is rarely a choice between “almost right” and “possibly wrong”

Analysis Paralysis…

Do you seek additional information constantly when faced with making a choice? Once you have more information, does that satisfy you or create even more questions that now require more information and analysis. Does this cycle ever repeat, causing needless delays, postponements and cancellations? Have you fallen down the rabbit hole of information overload?

If so, you may be suffering from Analysis Paralysis.

The good news is that there is a cure.

It starts by realizing Perfection does not exist. One’s constant search for Perfection in knowledge and information is unattainable; it is a stall tactic.

It may be more Indecisiveness that is preventing you from moving forward.

The Father of Modern Business Management, Peter Drucker, provides the best cure for Analysis Paralysis:

“A decision is a judgment. It is a choice between alternatives. It is rarely a choice between “almost right” and “possibly wrong”- but much more often a choice between two courses of action neither of which is provably more nearly right than the other.”

Peter Drucker, The Effective Executive

I fall back on that last sentence frequently.

I hope it helps you too!


Information: What can you Remove and not Notice?

We can filter the information we receive and consume in much the same way to help reduce Noise and make the information Signal clearer.

We are inundated with information and data every day. With information, more is not always better.

Every day we use data in the form of sound and images, which have undergone some form of data compression to make transmission, use, and storage more efficient.

We have GIF, JPG, PNG, TIFF, BMP, VECTOR, and RAW data formats with imaging. Audio formats include MP#, ACC, WAV, FLAC, and AIFF, to name a few. When we enjoy viewing pictures or listening to music, we are not thinking of the data that has been removed; we are enjoying the benefits of technology that has chosen to optimize for our benefit.

We can filter the information we receive and consume in much the same way to help reduce Noise and make the information Signal clearer.

Do you use Social Media for information (Facebook, Instagram, Twitter), or do you have a News Outlet you go to (NY Times, Washington Post, Wall Street Journal, Financial Times)? You might aggregate your favorite websites and blog posts using RSS feeds, or you might search more precisely with Google Scholar or PubMed. Finally, you might go directly to the primary source, including Books or Journal Articles.

Whatever your choice, make sure your source fits your needs and intended use. More information is not helpful if Paralysis Analysis sets in. Are you optimizing for Speed, Size, or Quality?

Information is endless today. Know your objective before you embark on your search.


Think Stronger-Know Your Cognitive Biases

A cognitive bias is an error in cognition that arises in a person’s line of reasoning when decision-making is flawed by personal beliefs.

Cognitive Biases affect how we make everyday decisions, big and small as well as how we think about and invest our money and create our wealth.

A cognitive bias is an error in cognition that arises in a person’s line of reasoning when decision-making is flawed by personal beliefs.

When the Bias is unseen by the individual but seen by others, it is a Blind Spot.

The Cure here is recognizing and acknowledging that they exist.  Once you become aware of these Cognitive Biases they are no longer Blind Spots.

Listen to my Podcast to learn about Cognitive Biases.  Let’s see if you recognize any in yourself?!