Growth Lab: Demystifying the jargon of business growth
Growth Lab: Darlington is a series of workshops aimed at making business growth easier to understand and achieve. Each month, we’ll demystify a different topic by translating business terminology into straightforward language to reveal the real opportunities awaiting your business.
Join us the first Thursday of every month at Innovation Central to uncover powerful tactics, meet local businesspeople who’ve tried and tested them and explore the difference they could make to your own growth.
Scaling vs growth
Everyone wants to grow but not everyone can scale their business. We frequently hear people using these two terms interchangeably but they actually mean very different things.
When your business is growing, you’re increasing revenue but your expenses tend to grow at the same rate (if not more) because growth sucks cash. Scaling is a different matter altogether. When you’re scaling, your revenue is growing at a much faster rate than your expenses. You achieve significant growth while keeping a tight control on costs. Sounds like the dream, right?
Next event // 2nd November 2023 / 9:30am - 11:00am
What I’ve learned about scaling
Douglas Dinwiddie, Founder and Managing Director, White Digital
To date, Douglas has grown the customer base of his Darlington-based web and digital marketing agency through a series of company acquisitions. Now, he has the opportunity to scale by upselling additional services to existing customers, meaning more sales and an increase in revenue without the usual customer acquisition costs.
In this frank and honest conversation with Growth Strategist Graham Robson, Douglas will open up about the exciting opportunities scaling presents to his business. He’ll share the challenges he’s faced and overcome so far on his own growth journey to help you on yours.
“Most of the world talks about scaling without knowing what it really is. We’ll get to the bottom of the true meaning and why it matters so much to know the difference. If you can uncouple your costs from your growth opportunity you can truly aim for the stars by scaling.”
Event facilitator Graham Robson, Growth Strategist at Business Doctors
Format
Fuel up first with a bit of breakfast before the main event, facilitated by Graham Robson and Debbie Simpson. Afterwards, there’s a chance to network and meet others who can support your growth with information and opportunities.
The Growth Lab programme covers 6 growth tactics in 6 months. Each guest speaker will explore one or more of these topics at each event.
- Innovation
- Investment
- Market expansion
- Diversification
- Digital transformation
- Scaling
“It’s so important to keep learning when you’re in business. These events are a great way to explore topics that could bring big benefits by helping you to stay ahead of the curve, spot new opportunities and expand your network. If you’re keen to grow, we’ll connect you to peers, people and projects that can help.”
Event facilitator Debbie Simpson, Innovation Adviser at North East BIC