Free Tool
The Growth Readiness Method
Are you investing in growth before laying the groundwork? Our Growth Readiness Canvas reveals if you’re truly prepared to scale or if it’s time to bolster your foundation first. Don’t let premature investments derail your journey. Discover how ready you are to grow and what steps to take next.
It's a full method:
It emphasizes the importance of having the right tools and strategies in place for data management, online presence, marketing, customer understanding, and compliance before actively pursuing growth. If a company scores low in any of these areas, it suggests that foundational work needs to be done to prepare for growth
- The Playbook: It's a document that will explain you the what and they why behind this method. Also what your score should mean for your business
- The Canvas: A template for your wall to remember the different score you had in different times
- The Tool: Going through the tool we created, answering all questions that will help you to assess your readiness level.
The methodological approach of growth readiness
Throughout our years of experience in the field of growth hacking, we’ve encountered a common pattern among many companies: a focus on pursuing growth and acquiring leads while overlooking the foundational elements critical for sustainable growth.
That is resulting: wrong utilization of financial and human resources
This observation led to a realization that there is often a significant gap in understanding between what constitutes the foundation for growth and what constitutes growth marketing itself.
Many clients, eager to scale their businesses, were not fully aware of the distinction, nor were they aware that their businesses might not be adequately prepared to support the growth they sought.
This lack of awareness about the readiness to grow, coupled with the confusion between laying a solid foundation and actively engaging in growth marketing, necessitated the development of a comprehensive framework.
Our Growth Readiness Canvas was born out of the necessity to bridge this gap, providing companies with a clear, structured way to assess their preparedness for growth, ensuring that they are not just chasing leads but are truly ready to scale in a sustainable manner.
Frequently Asked Questions
The “Growth Readiness Canvas” is designed to help a company assess whether it has the foundational elements in place to support growth effectively. It’s not a plan for growth itself but a checklist to ensure that your company is adequately prepared to handle growth when it comes. Here are the reasons why this canvas is important and what it is about:
Assessment of Tools and Processes
The canvas prompts you to evaluate whether you have the necessary tools (like Google Analytics, CRM, etc.) and processes (like data capturing and reporting) in place. These tools and processes are crucial for understanding your market position, customer behavior, and operational effectiveness.
Highlighting Areas for Improvement
By scoring each section, you can identify areas where your company may be lacking. For instance, if your mobile app isn’t utilizing proper technology or your website isn’t optimized for engagement, these are areas to improve before you can expect to grow successfully.
Ensuring Data-Driven Decisions
Categories like “Google Analytics” and “Data Capturing” emphasize the importance of data in growth strategies. Without data, it’s challenging to make informed decisions or to understand your customers deeply.
Optimizing Customer Engagement
Segments like “ICP (Ideal Customer Persona)” and “Social Media and Communities” ensure you have a clear understanding of who your customers are and how to engage with them, which is critical for growth.
Compliance and Infrastructure
“Compliance” and “Google Tag Manager” categories make sure that you’re not only following legal requirements but also have a robust infrastructure to scale up your digital presence without technical debt or legal issues.
Preparation for Scaling
A low score in any category indicates that the company might not yet be ready to scale because certain foundational aspects aren’t fully developed or optimized.
Strategic Planning Tool
The “Growth Readiness Canvas”, serves as a strategic planning tool that provides a snapshot of your company’s current state in critical areas that can support or hinder growth.
Guidance for Resource Allocation
It can guide where to invest time and resources to shore up weaknesses that could otherwise limit your company’s ability to grow.
Focus on Fundamentals
By focusing on the preparational elements, like the technology behind a mobile app or the analytics of a website, the canvas ensures that the basic infrastructure required for SEO and other growth tactics is in place.
All in all, you need this canvas to ensure that your company is fundamentally prepared for growth. It helps you identify and address any gaps in your readiness that could impede your growth efforts. By working through each section and scoring yourself, you’re able to pinpoint exactly where you need to focus your preparational efforts.
Getting a low score in any of the categories, or overall on the Growth Readiness Canvas, indicates that there are significant gaps in your company’s foundational elements that are essential for supporting and sustaining growth. Here’s what a low score could imply for different aspects:
Operational Weakness: A low score might point to operational issues, like inadequate data capturing or poor customer relationship management, which can lead to inefficiencies and customer churn.
Lack of Insight: Without proper tools such as Google Analytics, you might be missing crucial insights into customer behavior and preferences, leading to less informed decision-making.
Technical Shortcomings: Low scores in areas like Mobile App or Google Tag Manager suggest technical deficiencies that could impair user experience and the effectiveness of marketing efforts.
Marketing Ineffectiveness: If you score low in Advertising or Social Media and Communities, it could mean your marketing strategies are not as effective as they could be, failing to reach or engage the right audience.
Compliance Risks: A low score in Compliance indicates potential legal and regulatory risks, which can result in fines, penalties, or damage to your company’s reputation.
Customer Misalignment: Not understanding your Ideal Customer Persona (ICP) could lead to misaligned product development or marketing strategies that don’t resonate with your target audience.
Inadequate Preparation for Scaling: Overall, a low total score would suggest that your company is not yet ready to scale its operations. This could mean that attempting to grow without addressing these issues might lead to overextension and failure.
Although each category in the Growth Readiness Canvas is vital for ensuring a company is prepared for growth, the effort and resources required to excel in each category can vary significantly. The grading system reflects not just the importance of each category but also the severity of being deficient in that area, the difficulty of implementing necessary changes or integrations, and the time consumption associated with making those adjustments.
For instance:
- Mobile App Enchancements: Developing and optimizing a mobile app with all the necessary features (deep links, push notifications, CRM integrations, etc.) can be highly resource-intensive and time-consuming, especially for companies not originally tech-focused.
- Compliance: Ensuring compliance with various regulations (like GDPR for data protection) might not require extensive technical development but demands thorough understanding and meticulous attention to legal details, making it critically important but varying in difficulty based on the company’s current status.
- Data Management and Analytics: Setting up and integrating advanced analytics and data management tools (like Google Analytics, CRM, or attribution platforms) is crucial for informed decision-making. This can be complex and requires specialized knowledge, making it both important and potentially difficult to implement correctly.
- Advertising and Account Management: Having up-and-running advertising accounts that comply with all platform requirements and regulations is essential for growth. This might face unique challenges, such as platform-specific rules and approvals, especially for companies in regulated industries or those aiming to enter new markets.
This differentiation implies that while all categories are critical to a company’s growth readiness, the score a company receives in each reflects a nuanced assessment of how well they are prepared in terms of not just the existence of certain capabilities but also their robustness, compliance, and effectiveness. Therefore, companies might find some areas easier to address than others, depending on their existing infrastructure, industry, and market focus.
