It is critical for small businesses to establish an operational growth plan. Identify the factors that lead to growth, the factors that prevent growth, and how potential markets fit into those factors.
In her keynote speech at the Strategic Steps for Growth program graduation ceremony, BMT CEO Pamela Roach shared her own experiences and struggles with being a minority- and women-owned business owner.
To build your value-adding chain map, you need to document the boundaries, the flow of value, activities, and benefits, draw relationships, and analyze the value-adding chain.
The value-adding chain is the ecosystem in which your target market segment resides. It describes the relationship between suppliers and customers all the way to the end user.
Business owners often misread or ignore the causal factors that were the basis for their early success. From the very beginning of sales, owners must determine those few decision factors that will define success.
We designed a direct-to-consumer quantitative study to test the market’s receptivity to a concept bath towel our client was developing.
We used our Breakthrough Toolkit to help our client determine market segments and market interest in their proposed new printer.
Only half of small businesses survive more than five years, and further decays continue over time. The reasons are similar to those that cause mid-level and large firms to stagnate. But the small business has one advantage.
Our client used value-adding chain analysis to provide a grocery store chain with assurance that cantaloupes they purchased met their brand standard.
Market-driven innovation success requires a market orientation mindset and must address the demand drivers in the value-adding chain.