So what exactly is momentum? Typically, this is the stage when a company is moving toward critical mass, meaning, people think your idea is not only valid, but pretty cool. With this stage comes lots of great things, like …
- People want to work for you.
- You’re growing and expanding at a rapid pace.
- The word is out about your company or product and people are beginning to jump on your bandwagon.
- You’re making phone calls and more of them are being returned.
- You’re advertising and people are responding.
- You’re closing sales.
Can you feel the momentum building? While it’s exciting, it’s also important to remember that you can’t stay idle. You will constantly need to refine your idea and enhance it to continue the momentum.
While the momentum stage is marked by rapid growth, it can also be a volatile time for business. Basically, three things can happen:
- The business retreats from rapid growth and remains small.
- The business might lose its way and end up failing because of the pressures, changes, and decisions demanded by rapid growth.
- The business chooses to make the transformations necessary to become a larger company. Nearly every large company goes through this at one time in their endeavor.
If you want to cultivate momentum in an organization, you need to incorporate:
- Clarification on the decision making process. Read, people outside the “inner circle” need to be able to make some decisions
- A Kick in the Pants
- Shake-up the inner circle – who else can you add on your leadership team? What new ideas can you bring?
- Do something radical – just remember your mission and vision
- Mess up and then clean up the business
But this isn’t the end of the s-curve. We still have more stages to go. Up next: stability.