“Every business wants to get bigger, but many do it wrong. How do you know which path is right for you?”
Find out the answer here. This article is brought to you by the Wall Street Journal Online – free this week!
The article points out the challenges businesses face when trying to grow after periods of cost cutting. Sound familiar?
Take advantage of this opportunity to check out the WSJ for free. I have had a subscription for several months and love it.
Regarding growth after cost cutting, here are a few thoughts of my own:
1. Every bit of dehassling you can do is worth its weight in gold. What’s dehassling? Dehassling means getting rid of every day hassles in the workplace. Hassles cut productivity and make stress soar.
2. Say NO more often. In order to grow with a smaller cost structure, focus and prioritization are critical and some projects will have to go. If you can’t say no, you probably won’t grow.
3. If the organization went through recent cost cutting, including layoffs or job consolidations, you will need to double up on communication. You will want to articulate what’s in it for the workforce so they do not feel dumped on. Employees need to be intrinsically motivated to do their best work and enable growth. What can you do to engage and excite people? Not rah-rah or kumbaya. You’re looking for ah-ha.
4. Take the initiative to realign the organization to better enable growth.