If there’s one thing that’s been true about doing business this year, it’s that 2022 has been a time of great uncertainty. That uncertainty may make you cautious in doing business, especially if you're considering growing your company. What’s more, talk of a possible recession on the horizon may also have dampened your enthusiasm over any potential growth plans.
But don’t let the economy be the sole issue that influences any growth plans you may have. Plenty of major corporations were started during times of economic downturn, including American Airlines Group (Great Depression), Kaiser Permanente (Recession of 1945) Trader Joe’s (Recession of 1958), Microsoft (Recession of 1973-1975), and Groupon (Great Recession, 2007-2009)
Whether or not an economic downturn actually comes to pass is a question best left to economists and futurists. In the meantime, if your customers are ready for–or even demanding–you provide more of your product or service, 2022 may just be the perfect time to initiate your growth plan.
Involving Your Team in Your Growth Plans
Growth, however, shouldn’t also be left just to customer opinion. It should be something that is carefully and strategically introduced and managed in tandem with a team of A Players that can help take you to the next level.
Advising your team of any growth plans can help you build energetic brand ambassadors who will help drive your vision. Involving your team is also one of the best ways to retain your A Players during turbulent times.
We see our share of CEOs who have big plans to mentor their junior rockstars into the next level. Except they forget to communicate those plans. Which leaves the employee uncertain about their future with the company.
When an employee sees a goal they can help forward or they see a job they feel they are a fit for, it can help them to know that they are on the right track, and they are indeed a good fit to grow alongside your business.
Not having that feedback could make your A players more amenable to switching positions if they are approached by competing businesses. And any loss of an A PLayer could dramatically affect the success of your growth.
Letting your people know that they have opportunities to grow alongside your company can be a great motivator, but you also need to match your words to your actions. You definitely don’t dangle a position that will never be a match as a temptation to keep employees in place.
When building a vision for the future of your company, your A Players can serve as strategic advisors, providing advice and tools to help implement that growth. Remember your employees helped get you where you are today. Be sure to let them help you get to the next level.