Stratford Managers and Invest Ottawa team up to conduct research on high growth businesses
On September 25th, Stratford Managers and Invest Ottawa launched their survey to high growth organizations to gleam more information and insight into the challenges faced by companies as the scale and grow at rapid rates. Tim Skelly, VP, Strategy and Business Operations at Stratford is one of the people leading the research. Here’s what he’s had to say about the project:
Stratford Managers functions to help business overcome challenges to profitable growth regardless of industry or company size; we have seen in our numerous engagements some common themes regarding challenges faced by businesses. This research is designed to determine the key and common issues that high growth businesses encounter as they go through change and adaptations associated with extreme growth and the impact this has on their organizations.
We have seen companies going through high growth will stress the normal functioning of their operations as they increase human resources, customers, and manufacturing / service output. We believe that there are common issues within each of the functional units (HR, Operations, Finance, Customer Service, Management, Sales / Marketing) that these businesses will encounter as well as the ability for management / ownership to change their position in the company as they back away from day to day to grow the business. Like your workouts in a gym, people will “plateau” and not improve the output of their exercise when continuing to do the same workout process day in and day out. Similarly, as businesses grow, companies will need to change what they do and how they do it to break through the “plateau” and continue the path of profitable growth. We believe that organizations struggle with recognizing the need for change and the method in which to break through the plateau. We hypothesize that the need for a strategic plan, prioritization of tactics, initiative management, skill and resource development, and communication / leadership within the organization all are factors that need to be positively affected in order to break through.
With this research we will clearly identify common issues and challenges experienced by companies going through extreme growth. Package the research into a white paper, presentation, and other publications to that can be used to guide and inform SME’s in future to let them know they are not alone in their business challenges, that there are processes and organizations that can assist them and provide examples and case studies for those that have broken through the plateau.
To learn about this research or to be contacted with the results, please contact Tim Skelly at [email protected].
About Invest Ottawa
Invest Ottawa delivers economic development programs and initiatives that increase entrepreneurial momentum, wealth and jobs in the City of Ottawa and its surrounding region. Its goal is to make Ottawa the most innovative City in Canada. Invest Ottawa services include start-up incubation and mentorship, acceleration for existing companies, global business attraction and local business retention, targeted sector development, commercialization, and marketing Ottawa’s diversified economy and high quality of life. https://www.investottawa.ca/
About Stratford Managers
Stratford Managers has been helping companies solve their business challenges since 2008. Our dedicated team draws on years of practical business experience and takes a collaborative, cross-practice approach to help organizations and their leaders grow, improve and transform. We work with companies that need more than a ‘consultant’ — who are looking for a partner ready to live their business with them through thick and thin. We’ve been where you are. We can help you succeed.