Whether your goal is to build the next multi-national conglomerate or to merely dominate your local market, most businesses achieve a level of growth that satisfies the founder’s vision. The Performance Optimization phase is the time to make the organization run with precision, and deliver its best products and services to the broadest customer base. The formal systems for finance, human resources, sales & marketing, operations, and research and development are refined. Within this business phase, you fine-tune practices and procedures to fit your business’s strategic plan.
It is also the stage where competitors emerge seeking to take away customers, and perhaps a temptation sets in to rest on one’s laurels. However, this is the time to renew dedication, to keep the competitive edge and refine performance. Key people and human resource policies become more important and succession plans and future growth opportunities, such as mergers or acquisitions, gain added consideration and importance.