08/04/2022
Create A Business Growth Strategy That Accelerates Revenues
Reaching revenue goals, for most companies, is very difficult. According to Reflektive.com, 90 percent of companies do not meet their goals. Why? They do not have an effective business growth strategy.
There is a gap between the business growth strategy and the company's marketing. They are not congruent. Consequently, that gap is hurting results. To close that gap, you must first create your business growth strategy because your business strategy is your story. Marketing is how you tell that story.
At Harbor, we help you close that strategy gap with innovative strategies that drive revenues. Some well-known examples show how simple it looks when you get it right.
Some Well-Known Examples Of Business Growth Strategies
BMW designs, engineers, builds and sells "The Ultimate Driving Machine" (for that unique slice of the upscale car market).
Walmart: "Save Money. Live Better." created a strategy to chain-link an operating system to get the population density needed to serve small towns with brand choices and lower prices in larger city stores like K-Mart.
Netflix: "See What's Next" anticipated the power of cloud computing and its ability to reach individual computers and individuals. They pivoted from a disc rental company and created a new video-streaming strategy for the world's homes and businesses.
Today, Business Growth Strategies Are Getting More Creative
Business leaders have long accepted that market boundaries and industry conditions are permanent. The assumption was that it's always been that way. Therefore, you must strategically choose between differentiation or low cost to succeed within these industry and market constraints. You couldn't do both: add value and lower costs.
Therefore, strategies were limited by this value–cost trade-off, which narrows one's perspective and potential opportunities. But that belief is not valid.
You Can Shape Your Boundaries
You can shape your market boundaries, industry conditions, and targeted customers, creating differentiation and low cost. Here are a few of many examples:
Southwest Airlines broke the industry "hub and spoke" model and flew direct routes to smaller airports. They have been the only consistently profitable U.S. airline since its inception.
Apple broke the industrial computer market by introducing a beautiful, easy-to-use computer for individual consumers. That worked pretty well.
CitizenM Hotel created a "five-star hotel" experience with four-star prices by eliminating the things "five-star" customers didn't care about, like lobby check-ins and a concierge service. And then adding the items they did care about like King size beds, better mattresses, cotton sheets, and better pillows. As a result, customers told their friends, and the hotels became an instant success.
Another misperception
Many people think the "big" money results from creating a breakthrough technology. Disruptive technology is and should be well rewarded. But, history shows that "big" money comes from applying the technology to new markets.
Some examples from the New York Stock Exchange: Apple, Google, FaceBook (Meta now), Airbnb, and others exploited the new technologies.
Therefore, if you have an open mind and stretch your perception, you can change your company from fighting fierce competition to creating a much bigger market consisting of current buyers and previously ignored nonbuyers.
Are you tired of fighting your competition?
If you want to take your company to the next level, you will want to join the Harbor family of entrepreneurs, executives, and strategists. We'll help you reach your objectives.
We created a program for business leaders -from startups to established businesses - that includes my many years of experience and the best concepts of traditional strategists like Professor Russel Rumelt to rule breakers like Chan Kim and Renee Mauborgne's insightful Blue Ocean Strategy.
Three Optional Ways To Create Your Strategy And Story.
Everyone is pressed for time and needs a flexible schedule. Our job is to help you get an innovative and effective strategy at an affordable price that will help you reach your objective. You can do that through the following three programs.
Digital Strategy Coach is the online program we call ClickVisor. It is online so that you can access it anytime. The information is divided into modules like objectives, diagnosis, insights, Etc., to help you quickly reach the information you need. CliickVisor also includes unlimited, free email so you can ask any questions about additional info you need.
Advisor Program includes the ClickVisor program plus telephone or Zoom calls if you have a unique issue that requires additional discussion. There is an additional charge for these calls with a minimum of 15 minutes.
Consultanting Program includes programs one and two, plus one-on-one sessions that help you through the entire strategy creation process. This customized program is set up together. If this program interests you, we will need to schedule a phone appointment to discuss your specific needs.
Conclusion
Most companies have goals without a plan to achieve them. You need to turn your goals into reachable, measurable objectives to succeed. Then create business growth and marketing strategy to enable you to accomplish that objective. We would love to help.
Remember, your strategy is your story. Marketing is how you tell your story.
Jim Zitek l HarborCapitalGroup
