Stuck in low- or no-growth mode? To paraphrase a quote often attributed to Albert Einstein, are you doing the same thing and expecting different results? If so, challenge your orthodoxies:
- What business are you really in? Are you selling products or offerings? Or are you reducing customers' costs or helping increase their revenues?
- How do you measure success? Is it purely financial? Or is it in the number of customers who recommend you to others?
- Who are your “customers”? Are they those who have traditionally bought your offerings? Or are there new groups of customers whose unmet needs could be resolved by what you offer?
- What do your “customers” want? Is it price? Or is it value? And if the latter, how do THEY really define value (the answer may surprise you)?
- How do you go to market? How do your competitors go to market? What can you learn about GTM strategies from other industries?
- What are your real competencies? And how do these compare to your competition, in the eyes of customers?
- How are you compensated for value delivered? Are there other issues that customers would find valuable to resolve, that your competencies could address?
Answer these questions and you WILL find some real growth opportunities.
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