Are you looking for new business in all the wrong places?
Several businesses with whom we have worked in the last 10 years have been concerned about their growth or have even seen their growth engine come apart. It was critical that they identify the primary drivers of their decay so that we could fix the core problems.
Do any of these decay drivers define your business conditions?
- Have you lost differentiation? Are you able to command a price premium and hold share in your existing markets? Is your historical success being attacked by increasing competition, customers who want more for less?
- Is your marketplace mature? Regardless of your differentiation, is your existing customer base maturing and becoming increasingly intra-competitive? Are they looking to you for lower prices, a trend that sees no end?
- Do your competitors run in packs? Is your competitive environment becoming more intense, as rivalry increases? Are your new introductions quickly followed by competitors? Is the result new costs without gains in price or share?
- Is your organization stagnant? Are your well-established ways of doing things (work processes) losing their effectiveness? Are your speed, agility, and simplicity lagging? Does figuring out where to begin to make changes seem a daunting task?
Recharge business growth!
If you have found your business is impacted by more than one of these growth killers, then the good news is that our Transformation Process can identify critical issues and help prioritize the remedies to reestablishing growth momentum.
Recharge your business growth. Focus on what?s needed to spur new growth quickly, with a view toward your future. Give us a call.
How does the Breakthrough Transformation Process work?
At a glance, our Transformation Process is a record of your business in the present with a candid evaluation of what your business team must successfully address to reestablish profitable growth. It has four major components:
- Individual interviews with the business leadership team that uncover their understanding of the current business strategies; current position; industry and market conditions; customers value delivered; competitive behavior; economic positions; and organizational capacity and executions.
- Selective Market Intelligence to fill the gaps uncovered in the interviews. Translate these learnings into ?What It Takes to Win? statements.
- Generation of a Future Business History that defines the challenges the business must address and a high level approach to addressing them, and generates a Strategic Architecture.
- A Strategy Flowdown that identifies market, customer, operations, and learning objectives necessary to achieve the Future State identified in the Future Business History.
With this completed diagnostic, your team can now set objectives, establish metrics, define initiatives, and begin the tasks of making profitable growth happen.
Other steps to recharging growth
To rebuild your product differentiation, you must learn what your customers want. The Breakthrough ToolkitTM does just that: it tells you how to bring to customers the value for which they will pay and how much they will pay. Answer these questions to upgrade your business:
- How different are your features from those of your competitors in the eyes of the customers?
- What benefits (outcomes) do the specifying customers in the market want to achieve, and how do they perceive their primary suppliers performing relative to those outcomes? What do customers want to experience that your product could impact?
- How will price changes impact your share of demand?
- Are there any new product ideas that might bring even more value to your customers?
- Conduct a Market Space Investigation to identify potential adjacent markets and prioritize which market(s) to pursue.
- Conduct a Rapid Market Assessment to define how you must address the new market for success.
Want to get insights into business growth now?
About the Author
Ron Sullivan is a Senior Partner at Breakthrough Marketing Technology. He has worked with many businesses on innovation, new product development processes, strategy, building new business models, channels and distribution, and pricing optimization. He has significant expertise in study design, data analysis, and market intelligence.