Bloom and grow: Wherever we are planted...
Collective Stories: FMCG Growth wherever we are planted
I came across a very interesting matrix this week at a Growth Club session run by Action Coach, which explored the skills needed to complete tasks in your life vs. how ‘fun’ they are. The point of the matrix, (because of course what’s the point of a strong matrix without a strong point) is to highlight the benefit of not wasting your time on tasks which are not ‘fun’ and to make a change for the better, bringing in support where needed to fulfil these tasks. Examples include admin or HR support.
Let’s turn this one on its head and replace the word ‘fun’ with ‘incremental growth’, growth above and beyond what you get from your BAU (business as usual) activities.
Using the matrix will highlight areas where you need to bring support into your organisation to drive incremental growth, the matrix will even highlight the level of skill required.
Think about the project you have always wanted to start but continually park to focus on BAU or is perhaps given to junior team members who might not be quite there in terms of skillset. A google quest might return a market which looks healthy but how does the market work, who lives in this market and how is it evolving? How do retailers operate in this market?
Face into these projects, if you contract this work out, does it drive more growth? Will this growth happen at the same rate without external resource?
Naturally, it is cheaper to keep projects of this nature in house, but ask yourself, what would this project mean to your business, what would it bring, realistically a lot more than the cost of the external skilled resource needed to deliver it.
Collective Stories are specialists in market scoping, retail category management and insight. We specialise in assessing the balance between your current and aspirational markets. We believe in actionable and dynamic insight, oh and we believe in frugality, always making your spend work hard.
