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Growth

Growing is not the same as selling more

Before you accelerate, it helps to know which growth makes you stronger and which makes you weaker.

Almost every company we meet wants to grow. Far fewer can say what kind of growth they are after. Selling more is easy to measure, which is why it becomes the goal, but rising revenue can hide a business that gets more fragile every month.

First, make customers stay

Acquiring customers who leave after three months is filling a leaky bucket. Before investing in acquisition, look at how many customers come back, how long they stay and why the ones who leave do so. Improving retention is usually cheaper than any campaign.

One channel that works before five half-built ones

Healthy growth usually starts with a single channel you understand well: you know what it costs to bring in a customer, how long it takes to earn that cost back and what happens when you double the spend. Opening new channels before getting the most out of the first one spreads the effort and dilutes the learning.

Grow at the pace your cash can bear

Growing consumes money: more stock, more staff, more customers paying at 60 days. A company can die of success if it sells faster than it collects. The useful question has two parts: how much can we grow, and how much of that growth can we finance.

What we ask a founder

How much does a new customer cost you, and how long does it take to recover that? What share of your sales comes from repeat customers? What would happen to your margin if you doubled in size tomorrow? Founders with clear answers to these tend to grow better.

Further reading: Can disciplined ambition unlock growth in a volatile global economy? (EY-Parthenon, May 2026); EY-Parthenon Growth Survey 2026 (EY, April 2026).