BDO commissioned research among some of the UK’s most successful companies to understand what was driving success in business. The results offered an interesting insight into the world of innovators, founders, change drivers and owner/managers alike.

One common theme that emerged from our findings was that like highly effective people, highly effective businesses share specific traits and follow common pathways to greatness. One of the five habits of highly successful businesses we identified was investment in productivity and innovation.

We asked:

What will your business focus on over the next year to drive growth?

13% – building new markets

11% – improving profitability

10% – recruiting the right team

Preparing for growth


Delivering year-on-year growth encourages a mentality geared towards continued development, but while strategies to help you increase your customer base and boost revenue are a good thing, growth alone isn’t enough to support and sustain a company if the right conditions aren’t met.

50%

Of respondents cited not preparing for growth as the biggest key failing

It is important to have the infrastructure in place before you grow.”

Fast-growing business owner

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Read more about this habit and the other four habits  of highly effective companies. Access the report in Spotlight, our knowledge centre.

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