Is your team ready for growth? How to score your readiness
As companies look to product teams for growth, many find themselves unprepared. How can product leaders transform your teams into true drivers of business expansion?
As senior leaders increasingly look to the product org as a new growth driver, the gap between ambition and current readiness widens.
How can you help your product teams bridge this gap and enable them to move beyond just executing the backlog around core products and develop the capability and mindset required to deliver new growth.
A recent study by Gallup found that companies with highly engaged employees—a key indicator of strong company culture—outperform their peers by 23% in profitability.
But what exactly constitutes a high-performance culture in the product world?
To answer this question, we've developed a growth culture scorecard. This tool, based on our free ‘How to build your winning product culture’ guide, helps product leaders assess their team's readiness for growth across five critical dimensions:
Appetite for Risk
Operational Speed
Market Reliance
Autonomy
Collaborative Spirit
Each dimension is scored on a spectrum from "Execute" to "Innovate" to "Transform." But why do these dimensions matter?
Let’s break it down:
Appetite for Risk
According to a 2023 Boston Consulting Group report, companies encouraging calculated risk-taking are 45% more likely to report breakthrough innovations. Are your teams empowered to take smart risks?
Operational Speed
How quickly can your team move from idea to implementation? In today's fast-paced market, speed can be a crucial differentiator.
Market Reliance
Recent research from Forrester shows that customer-obsessed companies grow 2.5 times faster than their peers. How deeply does your team engage with market insights?
Autonomy
Do your product managers have the freedom to make decisions? Empowering your team can lead to more innovative solutions and higher job satisfaction.
Collaborative Spirit
How well do your teams work across silos? Breaking down barriers between departments can lead to more holistic product development and faster problem-solving.
Download the free scorecard
*With instructions!
In conclusion, building a growth culture is perhaps the most important—and often overlooked—aspect of product leadership. It's not just about what you build but how you build it. A strong growth culture could be your biggest competitive advantage in today's rapidly evolving tech landscape.