High growth businesses, stay entrepreneurial. They never stop looking for new opportunities, for gaps in the market, for opportunities in adjacent markets – and if those opportunities look promising then they go for them.
Many businesses don’t do this. They start off very entrepreneurial but once they reach a certain size they seem to lose that entrepreneurial flair. they develop systems, structures and controls, all vital to their success, but somehow lose sight of the fact that what made them successful in the early years was their entrepreneurial flair. Seeing opportunities early and then focusing on those opportunities. Their business plan becomes a straightjacket – and they lose out to similar, more entrepreneurial, newcomers.
To sustain high growth, you need to stay entrepreneurial. Keep looking for new opportunities, some opportunities that were not identified twelve months ago when you drafted your business plan. They simply couldn’t have been foreseen (unless of course you have a ‘Mystic Meg’ on your payroll!) As long as such new opportunities play to your strengths then stay true to your entrepreneurial roots and go for them!