Friday Buzz: The Downsides of Massive Growth
Growing quickly doesn't mean you have things easy; it just means you have a whole different set of concerns to worry about compared to when you're struggling, one management expert explains. Also: If you're looking to grow, check out these growth-hacking resources.
More money, more problems.
Just because things are on the up-and-up financially doesn’t mean that you’re suddenly making all the right decisions.
In a blog post, Marlis Korber at SBI Management Services argues that you may find yourself so blindsided by the sudden expansion that you’re stuck catching your breath and reacting to the growth, rather than taking it all in stride.
“The fact is, rapid growth is expensive,” she explains. “More revenue shouldn’t mean a surplus of profits. More revenue means more work. If profits are extremely high, it probably means you are underspending on your infrastructure. Service will quickly erode, your reputation will deteriorate and retention will dip. If you don’t use reserves now and use them wisely, this period of growth will sour quickly.”
Be sure to check out her full list of ideas to help find the sweet spot between embracing the growth and not letting it overwhelm you.
“Growth is only a good problem if you handle it wisely,” she adds.
Get Your Content Strategy On
Think your content strategy needs a tuneup? You might be able to get just that from three leading association pros focused on the content management world. Strategists Carrie Hane Dennison, Dina Lewis, CAE, and Hilary Marsh will be leading the session taking place at the ASAE Conference Center on Thursday, June 18. Learn more and buy tickets here.
Other Links of Note
Looking for someone to give your association’s marketing efforts a little push? This SocialFish infographic highlights what you should look for in a “growth hacker.”
Speaking of growth-hacking, the Event Manager Blog has a list of tips for doing just that with your event.
Ever wish your presentation software worked more like Pinterest? Good news—there’s an iOS app that does just that, and it’s called Curator.