Growth Strategy Partners Goal Survey Results
Growth Strategy Partners conducted a webinar with the National Association of Sporting Goods Wholesalers last month and discovered during a survey of attendees that executives in the shooting industry are challenged with establishing and prioritizing goals for 2019. To see if you share this challenge, read on.
Growth Strategy Partners, the management consulting firm which accelerates revenue, profit and organizational performance for companies in the shooting sports industry, recently conducted a webinar with the NASGW on the “4 Goals Every Shooting Sports Company Should Implement.” During this presentation, the firm outlined its perspective on the current state of the industry, its projections for the future and highlighted the firms experience in the industry. Based on this understanding, the firm identified 4 goals most shooting industry companies should implement to improve performance in 2019. These goals are:
1) Target niche customer segments
2) Differentiate your products and services
3) Improve performance through sales and operations planning
4) Build a highly engaged works force
You can hear a recording of this webinar through this link http://growthstrategypartners.com/resources/videos-2/
At the beginning of the webinar, attendees were asked, ‘What keeps you up at night?”. Not surprising, 50% said ‘generating sales’ followed by 17% stating ‘introducing new products’ and 16% ‘managing inventory and working capital’. 11% worried about the ‘competition’ while 6% were concerned with ‘managing people’. Except for those worried about the competition, all responses supported the need for the 4 goals the firm identified.
What was surprising was the next survey question which asked, “What will be your top challenge implementing one or more of these goals?” 61% responded that they were challenged with deciding which goals to focus on or didn’t have a process to decide which ones to choose. This was surprising. Without a process to evaluate the situation of a business and then decide what goals to achieve, a company is most likely just guessing on what should be done and probably doesn’t have formal goals to align the organization on.
Growth Strategy Partners has found that companies with documented strategic goals and a robust planning process are typically growing faster and are more profitable than those without. If you lead a company which does not have a formal process for establishing strategic goals and want to improve your company’s performance, click on the above link for a webinar on how to get started in strategic planning.
To learn more about Growth Strategy Partners and how they can help you build a robust strategic planning processes, visit www.GrowthStrategyPartners.com or call Chris DiCenso at 781.837.3276.
Growth Strategy Partners is a management consulting firm accelerating the revenue, profit and organizational performance of shooting industry companies by implementing their research based 7 Keys to Growth.