For heavy industries such as oil & gas, agriculture, industrial manufacturing, construction and more, strategic planning is critical. Not only do heavy industries impact the lives of individuals, but countries themselves depend on these organizations for critical infrastructure work. Businesses that operate in heavy industries have the potential to positively impact the lives of many, but to deliver the best results to the clients and communities they serve, proper strategic planning needs to be a regular function of every organization in the industry.
To put it into perspective, a report from the summer of 2022 highlighted that heavy industries in Australia had the potential to cut greenhouse gas emissions in the country by more than 80% while paving the way for investments and job creation in renewable energy. Though a large portion of those greenhouse gas emissions come from large conglomerates and multinational companies, small and medium businesses can still have an impact in changing how the industry works by operating more sustainably with a long-term vision in mind. This is just one example of how industry-wide changes can solve country-wide or global issues.
Businesses of all sizes can change industry norms and develop new best practices, but to turn intention into impact, a detailed strategic approach needs to be a priority. For business leaders, growth consultancy and strategic planning resources can be difficult to find and navigate. Our goal is to provide a guide that can help your organization achieve growth while serving your customers in a way that’s sustainable and effective. If your organization is building its own strategy for growth, Australia is ready, and our guide is here to help.
How to Unlock Business Growth in Resources
For organizations to reach growth targets, strategic planning is key. Strategic planning services in Australia are readily available, but it’s best to have a thoughtful internal plan prior to seeking external help. You and your teams know your business best, so figuring out where your areas of opportunity are – as well as your challenges – will change how you build your strategy.
You have plenty of resources at your fingertips right now to grow your business. Start by looking within your organization for subject matter experts, rely on department leaders to collaborate and highlight areas that need attention, and hire the right people to deliver the results you’re looking for. When you have assembled the right resources, we recommend creating a strategy map that includes critical components of your business operations including your financial strategy, customer outreach, and other critical factors of organizational success.
Components of a Strategy Map to Consider Now
As you consider your strategy for growth, Australia might be your focal point, but you may also be considering new markets or expansion into other countries. No matter what your targeted area is, you need to build country-specific strategic plans first and then align those strategies with one another if you operate in multiple countries.
With your geographical focus in mind, begin to dive into the critical aspects of your strategic foundation: finances, customers, internal processes, and capacity planning. Having strong strategic clarity on these components will help align individual projects and employees to the overall organizational goals. Investing time into a foundational strategy map ensures that your organization is operating cohesively, finding synergistic opportunities, and hitting growth targets with ease.
What are your revenue targets for the upcoming years? What about the next 5 years? Revenue is only one component of financial strategy, but this top-line measurement dictates your spending and investment strategies, too. Once you have a clear picture of how much money will be coming in, as well as a plan to achieve your targets, you can begin detailing spending restrictions and capital expenditures that align with your overall strategic planning.
Since customers can vary widely, being flexible and strategic about how you connect with your customers is critical. Whether you serve teams working on oil reserves, deliver raw materials to construction zones, or partner closely with Defence companies, your customer connection strategy should be specific to whom you serve. Some businesses use LinkedIn to make connections and generate leads while others show up at work sites to discuss partnerships in person.
Figuring out how your customers like to be contacted and supported will help propel your growth. If you’re looking for advisory for expanding a business, our team is happy to use market insights and data to break down the best approach to connecting with your customers
Growth consultancy services are made up of many components, but one of the biggest areas of opportunity we see for many businesses in heavy industries is to optimize processes and employ lean methods internally. This includes everything from how your team loads products onto a delivery truck to how you ensure quality control; often, there are many opportunities to optimize how things are done.
Standardization and optimization are the first steps to achieving massive growth without threatening financial resources. It takes a relatively small investment to identify archaic processes or update how your teams do their jobs, though doing this often has a long list of benefits attached.
One of the most effective ways to find optimization opportunities is to ask your employees where they see opportunities. Individuals have a detailed view of their day-to-day roles and are often more tuned in than leadership teams to processes that can be done with fewer resources or time. Gathering internal perspectives at all levels of the organization will solve root issues faster than a top-down approach.
We offer strategic planning services – Australia-specific and globally – to many businesses. One thing we often see is organizations that are either over-extending their resources or not optimizing their capacity planning, both of which lead to poor resource planning and improper spending. Based on the current resources you have, think labor, materials, and more, you need to build a strategy around how many customers you can serve at once.
Strategic capacity planning will change how you think about inventory, employees, and other resources. With a strategic approach to this side of your business, you can avoid supply chain disruptions, meet delivery goals, and offer consistency to your customers. Capacity planning is not something that should be overlooked; it is a critical component of any strategy for growth.
Customizing and Measuring Metrics
Once you have outlined each component of your strategic plan, you’ll need to develop metrics and key performance indicators that can be tracked throughout the year. You should set targets for things like OpEx spending, overtime hours, inventory waste, customer retention, and any other metric that is critical to the success of your business. Tracking these metrics over time will ensure that your business decisions are not just based on anecdotal evidence and “gut feelings,” but instead, based on data.
Finding the Right Advisory Services for Growth
If you’re not sure how to get started, we offer advisory services for growth for businesses in heavy industries. We know just how unique this space can be, and our team of experts is committed to helping your organization reach its goals this year, next year, and for many years to come. Strategic planning is foundational for every successful business, but you don’t have to figure it out alone. Contact our team today to get a better understanding of the services we offer and how a strategic plan can change your growth potential.