How are you going to grow this year?

When I ask other business owners this question, they tend to give me similar answers… “Oh, we’re going to increase revenue by 20%” “We’re going to get more leads and increase our sales team” 

And these are good answers…or better than none at least. But most business owners are missing out on a huge opportunity for growth. When it comes to growth, people tend to think quite linear. More leads. More clients. More sales. But the big businesses, the super smart business owners and the people who see incredible growth are the ones who know that growth can be upwards or outwards. Sure, you can grow by scaling your existing business model bigger, bigger and bigger but you can also grow by expanding into other service offerings that complement your core… 

Take Airbnb as a perfect example. You probably know them as the “holiday rental” company, and they’ve done an incredible job of scaling and dominating in this market. They operate in nearly every country in the world, with over 8 million properties let through their platform. But in 2016, they decided to grow sideways… They added an additional offering, one that complimented their existing business model – excursions.  This smart sideways move added an average 14% to their annual revenue each year (an average of $285M per quarter!) 

Now, I’ve been in business for 30 years this year (that sounds a little crazy saying out loud) and one thing I’ve learnt is that success leaves clues. Don’t try to invent the wheel, look for the people who are getting the results you want, and do as they do. This year, Millennium Cargo is celebrating 30 years in business. And those 30 years have given us something quite special… Today, Millennium Cargo is built on solid foundations. We’ve got the team, the leadership, the systems, processes and infrastructure that only several decades of work can achieve. We’re strong. We’re growing. And everything just…works. So it’s the perfect time for sideways growth.

For Millennium Cargo, that means building on strong foundations and exploring complementary areas that sit naturally alongside what we already do well. And for me personally, it’s meant something else too. With nearly 30 years of leadership experience behind me, and with the next generation increasingly involved in the day-to-day running of the business, I’ve found myself thinking more about perspective, decision-making, and the value of honest conversations between business owners. Some of the most valuable progress I’ve made over the years didn’t come from working harder or selling more, it came from stepping back and talking things through with the right people. That’s something I’m leaning into a little more intentionally this year, alongside trusted partners, while remaining fully committed to Millennium and its continued growth. I’ll share more in time, but for now, consider this simply a reflection on what “sideways growth” can look like when a business (and its leadership) reaches a certain stage.

 So how about you? Have you considered growing sideways? What could your company offer that would genuinely complement what you already do well? It’s worth some thought.