Michael Osburn, Chief Financial Officer of North America for Regus, discussed how an organization can manage growth and optimize its resources during a Thought Leadership Spotlight Presented by Regus at the 2014 Chief Financial Officer Leadership Forum in Dallas on Sept. 10.
According to Osburn, there are a number of steps organizations can take to improve their success when growing rapidly, ranging from having clearly-articulated growth goals, to ensuring incentive structures are properly aligned, even down to taking the time to root out hidden “friction points” in your processes that would otherwise slow you down. One key factor is to proactively evaluate leadership to address performance issues: “Watch your leaders at all levels. The takeaway here is when you say that you want to grow quickly, it creates pressure on all levels of the organization. Pressure can result in good things or bad things and thus can highlight strengths or weaknesses in your people.”
In addition, an organization should look out for self-cannibalization when endeavoring to grow rapidly, Osburn said. An organization that addresses this challenge and understands its short- and long-term growth can progressively extend its reach, according to Osburn, “It’s unhealthy to go too fast or be imbalanced in your site selection. The real issue is that it’s short-term versus long-term. If the cannibalization draws out and extends over a long period of time then you probably missed the boat in your location selection or how quickly you pushed.”