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 describe your business conditions?
Are you able to command a price premium and hold share in your existing markets? Is your historical success being attacked by increasing competition and/or customers who want more for less?
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?
Is your competitive environment becoming more intense as rivalry increases? Are your new product or offering introductions quickly followed by competitors? Is the result new costs without gains in price or share?
Are your well-established ways of doing things losing 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 reestablish growth momentum.
Recharge your business growth. Focus on what’s needed to spur new growth quickly, with a view toward your future.
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:
- Current business strategies
- Current position
- Industry and market conditions
- Customers value delivered
- Competitive behavior
- Economics positions
- Organizational capacity and executions
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 Recharge Growth
To rebuild your product differentiation, you must learn what your customers want. Our Breakthrough Innovation Hub™ tells you how to bring to customers the value for which they will pay and how much they will pay. It answers these questions, so you can 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? 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 your customers might value even more?
If your sales are stagnant and customers are asking for lower prices, then seek out and engage adjacent markets. 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.
