When Growth Stalls: How It Happens, Why You're Stuck, and What to Do About It [Hardcover]

Steve McKee (Author)

Book Description

Publication Date: March 3, 2009

One of the toughest lessons every business leader learns is how hard it is to generate sustained growth. Stalled growth is the rule, not the exception--even for the best-managed companies. That's especially true in unpredictable economic environments such as the one we're experiencing today.

McKee has a unique understanding of what happens when growth stalls. His firm commissioned a study of 700 companies that had at one time been among the nation's fastest-growing businesses. Developed in concert with Decision Analyst, a leading national research and consulting firm, the study probed areas as diverse as corporate structure, competition, branding, finance, and strategy. The target respondent profile were CEOs, owners, principals, presidents, managing directors or chairmen of the board. In-depth follow-up interviews yielded fascinating stories and personal comments from executives who had been living on the front lines of real-life growth crises. McKee presents compelling knowledge about how and why companies lose their way, and offers practical advice about how they can rekindle growth.

When Growth Stalls demonstrates that sluggish growth is generally produced not by mismanagement or strategic blundering but by natural market forces and management dynamics that are often unrecognized--and widespread. The book presents seven characteristics that commonly correlate with stalled growth and what to do about them. Some are external forces to which countless companies have fallen victim: economic upheavals, changing industry dynamics, and increased competition. What McKee points out, however, is how often they catch companies off-guard. More surprising are four subtle and highly destructive internal factors that conspire to keep companies down: lack of consensus among the management team, loss of nerve, loss of focus, and marketing inconsistency. McKee makes the case that, regardless of what's going on outside of an enterprise, it's what's inside that counts.

Editorial Reviews

From the Inside Flap

When Growth Stalls

One of the biggest challenges any business leader faces is generating consistent, profitable growth. But stalled growth is the rule, not the exception, even for the best-managed companies. That's especially true in today's tumultuous economic environment.

When Growth Stalls is a practical, hands-on guide for executives, managers, and entrepreneurs who are struggling with stalled growth as well as for those who hope to prevent it. In this book, marketing expert Steve McKee presents fascinating evidence that demonstrates that sluggish growth is usually produced not by mismanagement or strategic blundering, but by natural market forces and destructive internal dynamics that are widespread—and often unrecognized.

All companies struggle with external forces such as economic upheavals, changing industry dynamics, and increased competition. When Growth Stalls explores how these forces conspire to take companies down. But the book also looks beyond these natural market forces and explains how four subtle and highly destructive internal factors conspire to keep companies down: a lack of consensus among the management team, a loss of nerve, a loss of focus, and marketing inconsistency. Conquering these, McKee's research shows, is the real key to overcoming stalled growth.

When Growth Stalls demonstrates that no matter what's going on outside an enterprise, it's what's inside that counts. Public or private, for-profit or not-for-profit, consumer-focused or business-to-business—organizations of every size and shape are subject to the same challenges. Throughout this groundbreaking book, McKee explains how to turn things around, offering proven and practical advice for rekindling growth.

From the Back Cover

Praise for When Growth Stalls

"Is there a doctor in the house? Steve McKee is good for what ails today's companies in search of growth. He's been through it, and he has isolated the key symptoms that hold companies back."
—Rance Crain, president, Crain Communications, and editor-in-chief, Advertising Age

"Don't be fooled by the title—this book isn't just for stalled companies. McKee covers important principles that all companies should be thinking about, especially new or fast-growing companies."
—Tony Hsieh, CEO, Zappos.com

"Steve McKee has zeroed in on the symptoms and challenges facing every business. Being aware of the issues is half the battle, and this book helps you win. A must-read for all businesses, especially emerging companies."
—Anupam Narayan, president and CEO, Red Lion Hotels Corporation

"When Growth Stalls is both insightful and timely. I was fortunate to read this during a difficult financial time for my industry. And having read it, I feel more secure in weathering the economic and management storms I face."
—Mary Lee Keane, president, Effie Worldwide

"When Growth Stalls is not only timely, it's timeless. These challenges confront managers in good times and bad, and McKee offers practical advice that people in every industry can use. This book will be relevant for years to come."
—David Humphrey, CEO, Massage Envy

"The message of this book is like a splash of cold water in the face because it truly mirrors the reality we face day in and day out in an increasingly competitive environment. Well worth spending time absorbing and applying to one's business enterprise, whether large or small."
—Mark Chmiel, executive vice president and chief marketing and innovation officer, Denny's, Inc.

See all Editorial Reviews

Product Details

• Hardcover: 240 pages
• Publisher: Jossey-Bass; 1 edition (March 3, 2009)
• Language: English
• ISBN-10: 0470395702
• ISBN-13: 978-0470395707
• Product Dimensions: 6.4 x 0.9 x 9.3 inches
• Shipping Weight: 14.4 ounces (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (25 customer reviews)
• Amazon Best Sellers Rank: #769,607 in Books (See Top 100 in Books)

More About the Author

Steve McKee

Steve McKee is the president and co-founder of McKee Wallwork Cleveland, a full service marketing communications firm that has twice been awarded the American Marketing Association's EFFIE Award, one of the industry's highest honors. He has more than two decades experience coaching troubled companies as they look to better position themselves for success.

Steve has received numerous advertising awards and honors throughout his career. He currently writes a monthly advertising advice column for BusinessWeek.com, and has been published or quoted in The New York Times, USA Today, Advertising Age, Adweek, Investor's Business Daily and The Los Angeles Times, as well as in dozens of newspapers and magazines throughout the U.S. He has appeared on CNBC, ESPNII, CNNfn, Bloomberg radio and network television affiliates in more than two dozen cities across America.

Steve is a popular speaker and has shared his insights with organizations including British Airways, Einstein Bros. Bagels, the American Marketing Association, the Public Relations Society of America, Grant Thornton Executive Seminars, the Society for Marketing Professional Services, the Frequent Travel Marketing Association, and the International Executive MBA Council, among others.

Most Helpful Customer Reviews

5 of 5 people found the following review helpful

5.0 out of 5 stars Finally, a marketing book with actual insight June 23, 2009

By Mark E. Mathis

Format:Hardcover

Finally, a business book that's actually worth your money, but also your time. When Growth Stalls is one of those rare business books that's actually about your challenges and not the ego of the author. It's been a long time since I read a book that had this many "ah-ha" moments. For example, McKee talks about the big danger of losing your nerve, even when your company is well established and you're a proven CEO. What those of us who are much lower on the food chain need to understand is that even big business titans can (and often do) lose their nerve when faced with rapidly changing market tectonics. Too often they delay making innovations to keep pace with a mutating environment and become driven by fear. This is a nasty cycle that feeds on itself and will crush the best of us. Remember when Southwest Airlines changed its seating system? As a frequent flyer of Southwest I remember thinking, "Why are they doing this?" Then, after I had taken a few more flights I thought, "Southwest has its act together. This new system works much better." I didn't give it any more thought until McKee used this as an excellent example of how growing companies are the ones who are bold enough to keep pushing the innovation button even when things are still going well. If you wait for sales growth to stall before making strategic market adaptations, you're guaranteeing a future loss in revenue and rough sledding for your company.

The best part of McKee's book is his constant use of real-world examples that demonstrate the concept he's teaching. The second best part is that his concepts are not complicated. They're just easy to forget when you're in the midst of dealing with personnel issues, new technology, finicky clients and any one of another dozen problems that come up on a typical day.

McKee has obviously suffered and succeeded himself. What makes his book a valuable read is that he has had the strength to study and analyze the "why of it all" in good times and bad. It is this quality that has given him some timeless insights that make this book one of the few resources that I will go back to again and again.

5 of 5 people found the following review helpful

4.0 out of 5 stars Solid advice in a shaky economy March 5, 2009

By H. Shackleford

Format:Hardcover

I recently read when growth stalls...and found it to be very useful. I've shared excerpts with my senior management team to help them understand that NOW is the time to invest in marketing, not the time to cut it. It's a good mix of reinforcing stuff you should already know and providing valuable insights on stuff you didn't. I'd highly recommend this book.

4 of 4 people found the following review helpful

5.0 out of 5 stars An Assest in These Times April 21, 2009

By J. Lewis

Format:Hardcover

Steve McKee's book is more than the latest effort on business advice; it's an asset in good times and bad. Full of revealing truths and concrete steps for addressing the core problems that plague companies, this is - simply put - a can't miss read.