In human nature itself there is growth, progress. The same thing happens in business, one of its metrics is also growth. However, growth often generates complexity, and complexity ends up becoming a constraint on growth itself. This is his paradox, which explains that Only one in nine companies has achieved profitable growth in the last decade, according to recent studies. And it can be seen that 85% of the time managers attribute it to internal problems.

Growth requires a different way of thinking, where failures are part of learning and not a consequence of not being smart. This vision promotes experimentation, with the conviction that the factor of intelligence must be practiced and, together with professional skills, requires time and experience. Staying in your comfort zone is the main enemy of growth.

A Brand’s Growth Framework

To develop an effective growth strategy, the first step will always be to identify the current position very well, to know in detail the DNA of the brand, to know what are the values and principles that govern us, to extract what makes us different. Brand and business go hand in hand, so a thorough brand health audit is a great start. This will allow you to align your growth strategy with your brand’s DNA. The next step requires a wise understanding of the unmet needs of customers. By cross-referencing the previous advances, it will be possible to identify which of our capabilities can provide a solution to the demands; what we do really well and how we can get a return on it.

Obviously, we must not forget the market analysis, social and consumer trends, or the growth forecasts of the sector. It should be a really honest brand and business study, there is no point in fooling yourself, with a multi-stakeholder approach and leading to a roadmap for the near future.

Fundamental Principles for Brand Growth

In any case, boosting a brand’s growth potential also involves understanding how it has grown in the past and what challenges it must face in the near future. And at present, it must contemplate 4 fundamental principles.

1- Resilience

The ability to excel is the fundamental piece for the growth of a brand. It is not something innate and obeys:

  • Have a clear sense of purpose, why you do what you do.
  • Recognize that it is not possible to control everything.
  • Develop the ability to adapt.

2- Agility

It’s not just about speed, it’s about finding the best way to develop capabilities in the most efficient way, to solve market demands

3- Flexibility

It’s about finding the right balance between the absolute and the flexible, to maximize opportunities by finding opportunities in every circumstance.

4- Simplicity

Growth is usually linked to greater complexity over time with the consequent loss of the original focus. Maintaining complex situations is the best way to avoid making them simpler. Indeed, the power of the simplest ideas is today undoubtedly more important than ever.

In the pursuit of a brand’s growth , it is rarely about changing the essence, but rather focusing on how who we are and what we do best adapts to the demands of the market, according to the fundamental principles mentioned. In many cases, it will require a complete change of mentality.

Carlos Puig Falcó

CEO of Branward®

Photos: Shutterstock

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