Decide your best option for growth

A strategic problem many businesses face is deciding on the best option for growth. Many companies waste a lot of time and resources on dead-end options, or alternatively chase too many rabbits at once, catching none.

Decide your best option for growth

Question:

Do you have a clear, sure-fire strategy for maximum growth?

Answer:

At The Alpha Group we make certain that you decide the best option to substantially grow your business.

So, how does this happen?

Easy, its a six step-process using the power of the peer-to-peer advisory board.

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Firstly the peer-to-peer advisory board help you determine what is your strategic problem.

As Managing Directors and Business Leaders, some of us are unclear about the best option for growth in our companies. You may be therefore uncertain about your central focus for growing your company.

As a result, we waste a lot of precious time and resources on dead-end options and unimportant problems. The long-term effect of this waste is that we only increase the value of our company by a fraction of what we could if we were clear about our preferred growth option.

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Secondly the peer-to-peer advisory board help you each define what your company excels at.

For this exercise you define three areas of business in which your company excels.

Write each in 6 to 8 words starting with an action verb

A. We …

B. We …

C. We …

Of these 3 areas, as the Business Leader, which are you personally the most passionate about and, which is your company passionate about? Note that this may be different.

Now come to your strategic conclusion about your companies core excellency.

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Thirdly the peer-to-peer advisory board help you identify the growth zone for your company

For this exercise write your key company strength and your golden market opportunity, from this you can determine your growth zone.

Then project your key company strength into your golden market opportunity. From this projection you can identify the growth zone for your company. Write this in 6 to 8 words starting with an action verb.

D. Our growth zone is …

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Fourthly the peer-to-peer advisory board help you decide where you want to position your growth zone.

Decide your best option for growth.

For this exercise, using a matrix, position your best option for growth within the most appropriate quadrant. If your best option for growth covers more than one quadrant, also write it in the other quadrants.

The matrix is formed as follows:

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Top Left

Your current markets

Your potential new products & services

  1. Product/service development

i.e. develop new products & services for your current customers & markets

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Top Right

Your potential new markets

Your potential new products & services

  1. Market creation

i.e. create your uncontested market where your competitors are irrelevant

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Bottom Left

Your current markets

Your existing products & services

  1. Market penetration

i.e. sell more of your existing products & services to your current customers

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Bottom Right

Your potential new markets

Your existing products & services

  1. Market development

i.e. gain some new customers and/or markets for your existing products & services

Customers and Markets

What are your conclusions about your positioning of your your best option for growth in relation to what your company excels at and which you are passionate about?

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Fifthly the peer-to-peer advisory board help you evaluate the benefits of your best option for growth.

When you have successfully implemented your preferred growth option in the best market quadrant(s), what will be the benefits to:-

i) You personally?

ii) Your Senior Team?

iii) Your people?

What will be the likely beneficial effect on:

a) Your annual sales?

b) Your % operating profit?

c) On other parameters in your company?

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Lastly the peer-to-peer advisory board help you take massive action.

The profound impact on you and your company of deciding your best option for growth is that as a result, you can position your company to achieve fast growth, substantially increasing your profits and value. This clarity of purpose will give you the focus you need to achieve your ambitious goals.


If you would like to find out more about how The Alpha Group members decide their best option for growth then please get in touch and I will be happy to send you further information about visiting a suitable group, online, face-to-face or blended with a mixture of real world and virtual board meetings.