Growth Strategy During a Recession
The rock face has many parallels to business’ external environment. Rock climbing starts by understanding it.
Stand back too far, you see everything, but can’t see initial steps up the rock. Stand too close, you’ll likely climb to a dead end i.e., without safe steps up the face. With the right distance (the one that an exciting new growth strategy is discovered from) you see a promising directional route.
B2C companies should throw out existing assumptions about customers. A 20% and growing decline in household wealth is transforming our consumption patterns and preferences. We’re at a pivot point where change is non-linear, not trend-like.
The greater your insight into this transformation, the stronger your organization will be.
Your B2B strategic planning should focus on this question - What can or could we uniquely do to help a target market become more successful today and better positioned for the upturn?
In B2B strategic planning, consider five great value promises:
- We increase your revenue
- We cut your overall costs or reduce your breakeven point
- We reduce your risk
- We increase your market share
- We increase your asset productivity
Is your B2B strategic planning asking deep enough questions?
What new learning is driving your growth strategy decisions today?
For insight on business model innovation and business model differentiation, read my recently released book, Beyond Price.