We’ll give you the tools to help choose and chart a workable growth plan that line with your company goals. Growth comes in many forms – from existing customers and target markets, expansion into new target markets and/or acquisitions of other companies and joint ventures/partnerships.
The key consideration for growth should be alignment with company vision, values, and goals. Typically, we begin by getting to know the company, its situation, key people, goals, capabilities and resources. Then we jointly investigate and verify growth options. Ideally, ideas for growth should be verified in terms of fulfilling customer needs, profit potential, market access and fit with company values and capabilities, and anticipated technological advances.
The traditional step-by-step product and market development is high risk given the rate of change in customers needs, changing market forces and technological advances. Today’s new approach is to seek feedback on the concept and to use that feedback to fine tune the product or service concept. Along the way, feedback on prototype products and beta testing of services is gathered and used to fine tune any new product/service offering. Positive feedback is a god step in market validation. Then production and marketing planning processes can begin in earnest.
Growth planning is the tool that ensures company resources are focused and used effectively, while controlling and minimizing costs prior to any full-scale launch.