In a world of celebrating startups, you can’t always remain there. Is it time to see your organisation for what it really is? One that has moved past its elementary stages.
1. Your audience has expanded
What was once your narrow intentional audience may look a little different these days. As your organisation grows, your products and services naturally develop. You may have changed your original offering, searched for diverse ways to attract new customers, accessibility options, and availability.
You may have noticed that your customers now come from different industries and vary in size. They may be using your products or services in multiple ways and reaching out to you through new channels. This feedback, demand, and growing audience are all clear indicators that your business has matured.
2. Brand equity and resonance
Your sales story about the business is shorter in length, to-the-point and you’re realising that it’s not even necessary at times. The mention of your company name carries weight, and your prospects are finishing your sentences. It may not be to this extent, but this is a sure sign that your business has matured, and your marketing efforts are really paying off.
3. Standardised processes that are scalable
Regardless of the pace your business grows, you have processes in place that help you manage the desired outcome. A clear indicator of business maturity is when this process scalability performs consistently regardless of the rate of growth. You have an efficient system in place, you have leveraged automation, or even obtained top talent to make this happen.
4. Embracing a digital culture
What was once regarded as a ‘distant future’, the talk of ‘going digital’ and embracing tech is now a key discussion point with the team. A sign of maturity is fostering a cultural change when hiring and training people (actively searching for digital mindsets), building collaborative environments, and reviewing business processes. As a result, digital visions are becoming reality, and your team shares your ambition to be at the top of your digital transformation game.
These are all great starting points to review your growth strategy and plan the next steps in your business journey. No matter what industry you belong to, change is inevitable. Embrace the challenges, innovations and developments entering your market. Don't forget to celebrate how far you’ve come!