Interpreting the 10 rules of growth as an entrepreneur

I saw an interesting headline that caught my eye: “The 10 rules of growth.”

OK. I’ll bite.

When I clicked, I discovered a research paper from McKinsey that examined the growth habits of successful companies. I read this through the lens of a small business owner and thought it would be interesting to add my observations. Do these 10 rules of growth ideas fit for everybody? Even small businesses like mine?

I was curious. So here’s my take.

I present to you the 10 rules of growth — with my entrepreneurial spin!

1. Put competitive advantage first.

The article states that you should start with a winning, scalable formula.

I think this is an essential idea. When I consult with businesses, I often find they don’t have a clear idea of how they stand out. If you can’t explain your point of differentiation to me simply, how do you expect customers to understand why you’re special?

I encourage business leaders to finish this sentence: “Only we …” to work through meaningful points of differentiation. It might take weeks to come up with the answer, but it’s there. And once you find it, it’s liberating and provides a map of possible growth.