Grow (Phase 4) How do you ensure success during the grow phase?

Bill Canady explains how to succeed in the grow phase: align around your most profitable products and customers, deepen those relationships to find cross-sell opportunities, and stay flexible when competitors disrupt your plans. When a rival undercut his company with deep discounts, he reorganized teams around automation, bearings, and power transmission to win back business.
Chapters
So you made it through the growth phase now, right? What, what does it mean for you? You know, at the end of the day, what it means is you've got your company aligned. You've picked where you're making money at, you picked your key customers, and you've aligned your organization around with it. Now you have to go win that business, that new business that's coming from it, right? As you go into it and you're looking at your best customers, you're thinking about what other products could I be selling them? Where are they going to come from? How do I actually get them in there? Who am I competing against with it? The growth phase is where you go answer all that stuff. Sometimes you get lucky right out of the gate. A customer wants what you have, you have it available, they start buying right away. That's an exciting point to be. You should count on that. It does happen. It's also kind of surprising when it happens because it sometimes comes out of left field. The majority of time what happens is you just start trying to get closer and deeper relationships with your core customers, your core suppliers, and you're looking for that opportunity. In the industries that we're in, things where you make products, where you make different things, whether it's paint or glue or whatever, these things have a life cycle to them. What you— the thing that you may really need to be, as an example, is you need to be on that next generation of the product coming out because the one they already have is taken, right? That might take you 12 months, 18 months, 2 years. It's okay. You're in there. You're in this for the long game. So you'll have some ones that happen right away. You have other ones that'll take a little bit of time with it. That's just normal. It's what you should expect. What else can happen with it is you've made all these moves, your competitor can make moves. Maybe they decide they're going to put in new products or they're going to expand the factory. That will have a direct result on you. Let me give you an example. So we reorganized. We had a group that was around automation and bearings and power transmission, things like— it was all kind of together. We looked at it, we segmented the business. We said we should have our automation take care of automation, Bearings and power transmission, taking care of that. We did that. It was actually, on the surface, a very good move. Guess what happened? Our competitors decided to make their own move. One competitor moved heavily into our territory. They felt a weakness because we were going through a shift with our personnel. They moved heavily and fast into it and put a location right in the heart of where we are. They immediately started taking business from us, right? At the same time, on the bearing power transmission side of it, our bigger competitors came in And started offering deep discounted contracts with it. We had not anticipated either one of those. We had to go back and think through what our value proposition was with our customers. We immediately pivoted. We went back, we said, you know what, actually working these together makes sense. We were able to put more people with deeper skill sets on it, and we kept our business and in fact started growing our business again. But we had to pivot because our competitors got a chance to take and come do it. And that's what you're going to find with this, right? You'll make changes. Some will happen right away. It'll be wonderful. You'll make other changes and you'll get a consequence that you weren't expecting with it. True leadership, true being customer-focused, is understanding what that customer needs in all situations and helping them get there with it. Because if you can help them take care of what they need to go do, they're gonna for sure help you take care of what you need.










