Have you ever wondered what high growth firms do differently which allows them to achieve their growth rates? Some do it by acquisitions, others do it by rapidly scaling their operations and some do it through replication.
Each path has its own challenges and is not for everyone, but we can learn from the techniques they use and perhaps use some of this to drive additional growth in our own business.
Replication is perhaps the easiest of these strategies to apply and can be applied in many different functions within a business. Whether it is having several people undertake the same task, multiple salespeople working different territories or duplicating the business in another geography, the principal is the same. From a growth perspective what we need to focus on is doing more of what we do well. That is, instead of growth by diversification we should look to growth by replication.