You’ve heard about the A Team… what about a business growth team?
A silly comparison, but when you do things right, your organization’s growth team really can be a super team for your growth.
In today's fast-paced business landscape, simply relying on traditional marketing tactics won't cut it anymore. B2B companies increasingly turn to specialized teams dedicated to driving business expansion to stay ahead of the competition and achieve sustainable growth. Enter the Business Growth Team—a powerhouse of professionals with the knowledge and skills to propel your organization forward.
In this blog post, we'll demystify the concept of a Business Growth Team and provide you with the guidance you need to establish, hire, or scale your team. Whether you're a startup founder seeking to ignite rapid growth or an established enterprise looking to break through plateaus, you’ll find your answers in this post.
One of the primary responsibilities of a business growth team is strategy development. Your growth team will formulate initiatives, conduct market research, and identify opportunities that can help you drive business expansion. By leveraging their diverse expertise and perspectives, your growth team can develop comprehensive and innovative strategies that align with the company's goals and market conditions.
Another crucial role of a business growth team is performance tracking and analysis. Growth teams monitor key performance indicators (KPIs) and analyze the success or failure of their various strategies. This data-driven approach allows the team to identify what's working and what needs improvement — no more “setting it and forgetting it!”
An often-overlooked responsibility of your business growth team is fostering a culture of adaptability and innovation. These teams are constantly looking for new growth opportunities and ways to stay ahead of the competition. This mindset encourages experimentation, creative thinking, and a willingness to take calculated risks. By embracing adaptability and innovation, the growth team can identify emerging trends, explore untapped markets, and develop unique value propositions that set the organization apart.
So, should you start, hire, or scale a growth team of your own? Let’s take a look at all three options, giving you all the information you need to move forward with the right choice for your business.
Creating Your Own Growth Team From Scratch
Your first option for taking advantage of a business growth team is to create your own team from the ground up. If you want to build your own team, you need to start with a solid foundation: assessing your business needs.
Related Read: Growth Team 101: Should You Hire or Build One?
Evaluate your organization's growth goals, challenges, and areas of opportunity. What skills and expertise do you need to strengthen your weaker areas, act on those opportunities, and meet those goals? This assessment will help you identify the gaps in your current capabilities and the key areas where you must make critical hires.
Once you clearly understand the skills you need, assemble the right talent!
Look for candidates with the experience and expertise that align with your growth objectives. One of the most important elements of a growth team is its cross-functional nature. When building your team, take steps to ensure a diverse range of perspectives, skills, and areas of expertise.
Remember: you likely won’t be able to hire a full marketing team at once. Start with the most critical roles, filling more “generalist” positions initially. As your business grows, you can spread out and hire more specialists to fill in the gaps and take your growth team to the next level.
After assembling your starting team, defining roles and responsibilities is essential. Clearly outline each team member's specific objectives and key performance indicators (KPIs), ensuring they are aligned with the overall growth strategy. This clarity is essential to keeping everyone on track and moving toward the same goal.
Scaling an Existing Team
Do you already have a growth team in place? Maybe the last section sounds familiar — it’s something you just did two quarters ago!
If you already have a growth team but want to scale it to support further growth, start by evaluating your current team composition and structure. Where are the gaps? Are any team members particularly overwhelmed and need support to level-up their production? Examine the skills and expertise of your existing team and find the weak spots. These weak points are excellent candidates for new hires.
However, you may not want to bring in all new hires to scale your team. You should also explore developing your strongest workers to take on specialized roles and additional responsibilities. Identify specific areas or functions within your growth strategy that require dedicated expertise. Have any team members shown interest or potential in these areas? If so, you have a match made in heaven!
Provide your team members with the training and resources they need to grow into their new role. This approach not only maximizes the talents and potential of your existing team members but also saves time and resources compared to external hiring.
Finally, as your team scales, efficient communication and collaboration will become more challenging — and vital — than ever. Streamline your processes and implement tools that facilitate knowledge sharing and coordination to cut down on double work and miscommunications.
Growth teams can only thrive when the cross-functional nature of the team is put to good use. Encourage a culture of interdepartmental cooperation and collaboration to leverage the diverse skills and perspectives within the team. Regular team meetings, project management tools, and clear communication channels can enhance teamwork and keep everyone’s eyes on the prize.
Hiring a Business Growth Team
The final option for enjoying the benefits of a business growth team is to hire an outsourced team! The benefits of this approach are that you get a full, cohesive team that is already used to working together, but at a fraction of the cost of hiring such a team internally.
When hiring a business growth team, evaluate your options based on the team's skills, experience, and qualifications. Consider expertise in B2B marketing, data analysis, market research, and strategic planning. These skills are often essential for driving business growth effectively. You should also ensure the growth team you hope to partner with has experience in your industry and with businesses of a similar size.
One downside of hiring an outsourced team is that scaling or transitioning to an internal team can be challenging as your business grows. As a result, we’ve created another option: working with a hybrid growth team.
Lean Labs offers a hybrid approach to business growth. With our method, you’ll combine the experience of subject matter experts within your organization and marketing, design, and development experts on our team.
Our hybrid team can provide a fresh perspective, specialized skills, and scalability while leveraging the internal team's understanding of the business and industry. The best part? We want you to outgrow us. As your business scales, you can scale back your partnership with Lean Labs, hiring internally and transitioning smoothly from our team to yours as you grow.
How To Get the Most from Your Business Growth Team
This post shows that leveraging a skilled and dedicated business growth team is vital for maximizing your company's potential and staying ahead in a competitive market.
To truly experience the transformative power of a dedicated business growth team, consider speaking with the hybrid growth team at Lean Labs. When you schedule a Growth Mapping Session, you can witness the go-to-market strategies we create for our clients. Our team will work closely with you to understand your unique business needs and challenges and craft tailored strategies that make customer acquisition your competitive advantage.
Don't miss out on the opportunity to take your business growth to new heights. Schedule a growth mapping session with us today and unlock the strategies that will propel your company forward.
December 13, 2023