Framing the timing and scope of the growth strategy
Setting realistic, yet ambitious goals is an important first step to a successful growth strategy. We work with clients to consider the following questions:
- What growth potential is there in the existing business, and what are the market opportunities in existing and adjacent markets?
- What opportunities are there for disrupting existing new markets or creating new ones?
- What constitute realistic business objectives,over what timescales for the client?
Focussing the innovation effort
This provides a framework for driving innovation work:
- Strengthening the existing business model - Payback year 1
Includes initiatives to reduce churn, increase share of wallet, improve pricing, motivate introducers and sales people and tune up the existing propositions and the acquisition and retention processes.
- Extending and innovating beyond the existing business - Payback in 3 years
Includes new to market propositions, next generation customer propositions, new sales channels and processes and new value chain plays, to create additional ways of creating and capturing value.
- More radical innovation - Payback 1-5 years
Includes disruptive innovations in existing or adjacent markets, new low-cost business models, or completely new businesses or ventures or new geographical markets.