What does taking a networked growth approach look like for organizations, teams, entrepreneurs?
As in other contexts, a networked growth approach for organizations relies on creating value for those they are networked with. Adopting this approach necessitates a mindset shift towards understanding that the success of your organization/team/company depends on your ability to engage your network, first by serving (or adding value) those in your network but also by activating helpers who share your products/expertise with their networks. This approach is driven by the interconnections of relationships and value; do good work for those you value and help those you value to do good work.
This results in expanding the value of what your revenue/profits produce as those you serve find success with your products and services. In addition, your organization gains further value and productivity as your employees build capability, becoming organizational network builders who understand how to structure and scale this new dimension to their work over time.
Will this work for your team or organization?
For companies looking to take a relational approach to revenue expansion, networked growth works really well. Instead of focusing on widening the funnel by promoting brand assets to increase transactional engagement opportunities that correlate to closing sales, a networked growth strategy offers the team the opportunity to shift towards a more balanced approach of leveraging relational and transactional engagement across an organizational network. This approach ensures teams are expanding the nodes (individuals or client organizations) in their organizational network and are also strengthening ties and edges (connections between nodes) across the network as staff upskill in how to be network builders.
How does it work?
From my work as a consultant with multiple companies, I have developed this networked growth strategy that results in positive growth outcomes. The headlines are as follows:
- If you have enough strong connections between nodes and enough engagement flowing through the network, you will consistently meet your revenue goals.
- The company will generate revenue based on your ability to listen across your network for opportunities to engage and support nodes in making progress towards their desired future state by sharing your expertise.
- Employees at your company are therefore always adding relational value when nodes feel heard and supported. The work can be much more motivating for employees than transactional sales and service.
- Referrals become much more organic and consistent when your brand reputation grows as an expert service provider in your field producing quality outcomes for your clients.
Applying this strategy to a specific organization for a customized implementation entails detailed analysis, including operations, networks, and more. Interested? Schedule an initial conversation with us to discuss your organization’s needs and how Grow Together can help.