Slow (or no) growth? What to do when your business gets ‘stuck’

Mar 21, 2024

Once a business reaches a certain size, leaders may find that they’ve gotten “stuck” — that growth is slowing markedly or has even stopped altogether. Such stagnation can be due to many different factors, but whatever the reason, it’s a critical crossroads for a company, and leaders can’t afford to take a “wait and see” approach or shy away from making necessary changes.

When their early-stage strategies stop yielding the results they’ve been accustomed to, entrepreneurs and novice leaders may struggle to pinpoint the steps to take to turn the situation around. Below, Business Journals Leadership Trust members discuss some of the common reasons companies get “stuck” and strategies lead

Here are insights from Mark D’Agostino.

5. Seek to simplify.

This is called “hitting the ceiling,” and it can be a sales or revenue ceiling, a growth ceiling, or a team ceiling. An organization’s leaders should look to keep things simple. Practice delegation, systematize processes and structure the business to get all the right people in all the right seats. – Mark D’Agostino, ConnectedHR

 

The Business Journals Leadership Trust
By Mark D’Agostino, President at ConnectedHR
Mark D’Agostino founded ConnectedHR in 2014 and currently serves as President.

Click here to read the original article in the Business Journals.

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