By DeeDee LeGrand-Hart
“My, how you’ve grown,” I remember that that phrase from my childhood days, too. –Natalie Merchant, 10,000 Maniacs
At some point in our youth, the growth chart hanging on the back of our bedroom doors told us we stopped growing. I don’t measure my height anymore. I don’t obsess about raising revenue notches on my Excel spreadsheets. I measure success by the number of new ideas we generate.
Growing tall is alluring. It’s a requirement for being a Ford model and for making a jump shot in the Final Four, but it is not a requirement for successful business. I know companies with a “be bigger” cult. Their addiction leads to extreme urgency, which leaves little room for good ideas and good judgment. Blinded by the magic number, people make costly decisions.
Great companies don’t let audacious growth goals replace meaningful goals. When they stray from their values, they adopt a slow-growth mantra to reinvigorate high standards of sustainable and profitable growth. A yardstick didn’t tell them how to do that.
“The research that went into my books showed that mediocre companies tend to focus on growth for growth’s sake. …. The problem isn’t the market’s rise or fall. The problem is people who react to events, rather than seek to create something great.” – Jim Collins, author of Good to Great