Growth is never by mere chance; it is the result of forces working together
James Cash Penney, Founder of JCPenney
You have started your business and have grown to size. You have a fantastic product, great company. Your strategies and actions are giving you steady growth and reached the Plateau. Now you have the “Peak” within your sight. Suddenly, your growth seems to stutter. Increase in spends and intensity doesn’t seem to given any benefit. Your company has hit the growth plateau.
The plateau is not necessarily a bad place to be. You have a fairly high vantage point; you have risen above your competition and are enjoying success. Some of the reasons are:
The most important thing is to understand that you have hit the plateau and identify the reasons for the same. Great organisations identify the plateau in advance and take actions to overcome it. Some of the recommended actions are:
It is important for the organisations to understand it is not a single parameter which affects the business, but it is a combination of multiple problems. Once they identify the issues, it is critical for them to rank the same on the order of importance and address them systematically, which can help them to get back on the growth path faster.