13 Jun 2017
There are 12 Strategies for Sales Hyper Growth to employ for your organisation (just like there are 7 Business Leadership Styles, 12 Business Hyper Growth principles and 12 Cultural Growth qualities).
The seventh being “Know the golden ratio-sweet spot for product-service diversification and differentiation, “.
Having too many services (diversification) dilutes your focus and thus strategic and competitive edge. Know your differentiation sustainable competitive advantage and you can charge a premium to the market. This is all requiring to know your business, market and clientele well.
The right mix and strategic resource allocation will ensure you have a sustainable competitive advantage. That is you will see your innovation to market to profit cycle be quick and as well you will build moats around your product and service. And increase the barriers to entry. This will increase your profits and protection mechanisms longer.
A particular client of ours was the number in the state for his product. However he had such a diverse range of services and products his profits were inconsistent and was competing on so many fronts and each required a different strategy, culture and core competencies. His resource allocation was spread too thin to do any particular client and market justice.
It was essential to analyse his core competencies and from this we changed strategy and market from Government contracts (and bidding) to co-align with High growth businesses that had managed to grow with new markets.
This sent his business growth by over 30% in 3 months. And, this was all evaluation of his differentiation and diversification strategy. Keep it simple and watch your Business evolve into hyper growth with sales.