Fit for Growth Summary – May 2022

Author: Deniz Caglar, John Plansky, Vinay Couto

Short Summary
Fit for Growth (2017) is a strategic guide that provides you with easy steps on how you can make your company rise by cutting your expenses without having to compromise on quality and production. It will teach you beneficial ways to re-strategize the ways you have been conducting business by transforming your growth mindset, organization of your company, and costs.
fit for growth
Source: amazon.com

Detailed Summary

Fit For Growth strategies has been helping business clients all across the globe to achieve significant and long-lasting results. With its strategies, it enables companies to restructure their work and reduce costs. In this book Fit for Growth, you will find actionable advice on how to bring changes in your business while keeping efficiency high and giving it a new form. The book will show you that all of this is possible while cutting down on the costs you allocate for your business.

Deniz Caglar, John Plansky, and Vinay Couto have been making strategies for businesses to excel at exponential rates. Fit for Growth is your chance at knowing all those secrets. The book explains everything you need to know as a business owner from outsourcing, strategic supply management, cost reduction, and restructuring organization model to digitalization.

Fit for Growth Key Points

Cutting Costs Will Not Hinder Your Growth, If You Do it the Right Way

Everyone wants to invest less and gain more profit from their business. While this may sound inappropriate or evil to you. The authors regard cutting costs as a very efficient way of getting your business on track. The only problem is that most business owners try to cut down costs without having a particular plan in their minds. When they think of scaling down they start cutting expenses from every department. This is where the strategy goes wrong. You need to actively observe all the departments of your company and focus on the strengths that make you stand out among the rest of the industry. Invest in these unique strengths so that your company and business will make a name for themselves while earning you profit.

These are the departments in which you should be investing more. Look for the departments that lead towards dead ends. You will realize that no matter how much you invest in such places they will most probably not lead to much profit and success. Cut down the expenses here. This reinforces the idea put forward by the authors of Fit for Growth. Cost-cutting cannot be harmful as long as you do it the right way and in the right places.

So When Exactly Should I start Cutting Down the prices?

Most business owners wait till it gets stormy to do this. Well if the business is going right and you have a large sum of money to invest why would you cut down the costs right? This is where most company owners go wrong. You need to analyze and manage your expenses today. Stop waiting for the day when things become unfavorable and you are forced to reduce costs. When you plan and strategize your money before any haphazard you are not giving in to the changes in the industry or fixing the damages that have been cost. You are actively working to spend money in places that can actually make your company grow and expand. The best business owners foresee and acknowledge the changes that may be needed in the future. So work on reducing costs beforehand and deliberately.

Do not form a Set-in-stone Plan

As a business owner, you might feel that you are the one who needs to come up with a plan every time. A solid plan is always required for success. This notion has been found as counterproductive by many business owners. Edwin Catmull in his book Creativity Inc. thoroughly explains that if you are setting a plan in stone you are deluding yourself. If your goal as a business owner is to have a fully worked-out plan you are only increasing your chances of appearing unoriginal in the industry.

Allow yourself and your employees to feel free at times. Micromanaging every employee, every task, and every project will only hinder creativity and put a toll on originality. Hear suggestions from them and improve and reform your plans no matter how many times you have to. Try and take new ideas. When you give power to employees they feel happier and are more inclined to take interest in the tasks.  Giving up a little control of your tasks is important.

Fit for Growth Quotes

“Fit for Growth companies have the right amount of resources they need to compete effectively—no more, no less—at the right places” –Deniz Caglar

“To focus on a few differentiating capabilities, you must build a clear identity for your company, based on the things you do better than any other Company.” –Deniz Caglar

Fit for Growth Review

Fir for Growth provides direct and up close advice from three authors who have first-hand experience in outsourcing information technology and curation of business strategies. This book will teach you to pay attention to all the areas of your business so that you can steer your company towards exponential success. The book is imbued with several case studies that can provide you with several perspectives on the strategies that are explained by the authors. Overall, a very practical, clear, and informative read for everyone in the business.

To Whom I Would Recommend Fit for Growth

  • To entrepreneurs who want to cut down on costs while maintaining the company’s growth rate.
  • The thirty-year-old guy who wants to start a business but believes that businesses rely on large sums of investment money.
  • And to anyone who is in a decision-making position at any firm.

Link: https://amzn.to/3cGfY1d