Technology and market opportunity has accelerated growth in Indonesia and their leaders can't keep up. A study by Empire Research Group states that 95% of companies will never reach even US$ 1million in annual sales. And of those, 95% won't ever make it to US$5 million. And of those, 98% won't get to US$10 million.
To stay afloat in an increasingly competitive environment, ActionCOACH, a world-renowned business coaching company, said companies must know how to scale up. But this is easier said than done.
Amid an age of rapid digitalisation, experts say business, especially traditional ones, must also face technology as part of scaling up.
"Technology makes it easier for new competitiors to come in and overtake the traditional big players. They can offer different payment options, speed up response-time and delivery process, and use customer data to create sharper strategies. So, big players will find it hard to stay afloat if they are not tech savvy," said Boye Hartmann, Founder and CEO of YDigital Asia.
New companies equally find scaling up difficult. Young leaders face the challenge of managing large diverse teams often located in multiple cities and managing a huge volume of work. They cannot rely on their funds to grow the business; they must fundraise.
"Fundraising takes a certain skill. Building a startup may be about business model, but fundraising is about selling your uniqueness to investors," said Donald Wihardja, Partner of Convergence Ventures.
According to ActionCOACH, there are 5 Diciplines of Exponential Growth: strategy, mission, business development, people & execution.
"The 5 Disciplines of Exponential Growth are the foundation in creating a business that is sustainable, predictable, stable, consistent, and creates powerful emotional connections inside and outside the company. Implementing and improving these disciplines in your company will help you reach the untapped potential in your business and your team," said Marvin Suwarso, Senior Partner of ActionCOACH Jakarta.
ActionCOACH kicks off the 5-part "Scale-Up Series" with a deep dive into Strategy in their next Jakarta Business Excellence Forum at the Mandarin Oriental Hotel in Jakarta on 20 June 2019 featuring Boye Hartmann & Donald Wihardja.
More information can be found on http://bit.ly/HowtoScaleUpYourBusiness
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Since 2008, ActionCOACH Jakarta believes in ethical business practices to earn your trust. We develop a team of empowered caring individuals to deliver quality service for you. We contribute to the community through business workshops and pro-bono coaching for non-profit organizations. Our team has been ranked one of the top firms in the world. Our coaches & clients have won awards for best community impact, best results, and coach of the year. Most of our partners have been inducted into the Global Hall of Fame by Brad Sugars himself. Our team of coaches have real business track records and inspire people through practical guidance.
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