Take this challenge:
Additional types of clients. Who?
By Dr. Sharon Gotteiner
Identifying additional types of clients that could use your product or service can be the start of a new growth engine. That’s how you can spark it.
Here are three questions to start with:
Quite often, products or services could potentially help additional types of clients if only some characteristics were changed. Here are some examples:
Can you think of any other example, related with the products or services you offer? Finding an example that relates to the type of products or services your company offers is worth much thought, and there must be something different that you can add. The value generated for your company can be great if you managed to do that, because that would have a strategic impact. That’s right, while business strategy is an abstract notion, all you need is a specific, sharp, refined, and validated answer to the questions presented above to make a strategic difference.
The “additional types of clients” card aims at complicating your business in a good way, given that your level of profitability is reasonable. If that’s not the case, don’t pick it up. It specifically aims at driving managers to come up with ideas and even initiatives that could push growth by expanding to additional customer segments.
I used the word “complicating” on the previous paragraph because such a move has its price: It may require additional costs to start with (R&D, design, setup etc), manufacture or deliver it, increase levels of inventory, market it, train employees on selling it, and the like. Certainly, thorough estimates need to be done in order to validate such an idea, but it will worth it. Good luck!
So… is there any additional type of clients to consider? Good luck!
© Dr. Sharon Gotteiner, Corpocheck.org . All Rights Reserved. This publication is intended for individual use only. Please consider joining the Enterprise Plan for integrating our materials with the organizational innovation process in place.
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