Growth Strategy

A Growth Strategy is a plan of action that outlines how a company intends to expand its business, user base, or revenue. This can involve launching new products, entering new markets, acquiring competitors, optimising existing channels, or using a combination of these methods.

Purpose

The purpose of a Growth Strategy is to provide a roadmap for achieving sustainable business expansion. It helps companies set clear objectives, identify opportunities for growth, and allocate resources effectively to achieve those goals.

Anti-Patterns

• Blind Scaling: Trying to grow too quickly without ensuring the product or infrastructure can handle it, often leading to degraded service or user experience.
• Ignoring Core Users: Focusing so much on new user acquisition that the needs of loyal, existing users are neglected.

• Not Measuring or Iterating: Relying on gut feeling rather than data, or sticking rigidly to a growth plan without iterating based on feedback and metrics.
• Unsustainable Growth: Relying heavily on discounts or aggressive marketing without a clear path to profitability or positive unit economics.