Is your company limited by the size of its current markets?
At The Alpha Group we make certain that you plan how to substantially grow your business nationally or internationally.
So, how does this happen?
Easy, its a six step-process using the power of the peer-to-peer advisory board.
Firstly the peer-to-peer advisory board help you identify what is your strategic problem.
Over the past few years you have successfully grown your business in your local market (i.e. within the country where your company is based).
The problem that they could face is possible saturation of your local market by your company and by your competitors. So, your sales, profit and profit multiplier (i.e. your company value) could start to stagnate.
One FastGrowth Strategy for you is to develop a new innovative service and/or a new product that allows you to rapidly grow your local market. Another FastGrowth Strategy is to provide your existing services and/or products to selected regions or countries i.e. grow your business nationally or internationally
Rate your company performance in your local market. Use the scale 1 to 10 where 1 is a low likelihood of happening to your company and 10 is likely to occur in the foreseeable future. Put your scores in the two boxes below:
Possible saturation of your local market
Potential stagnation of your sales & profits
Secondly the peer-to-peer advisory board help you evaluate your potential for growing the business nationally or internationally.
Using the 10 factor FastGrowth Assessor below, evaluate your potential for national or international growth. Assess each factor on a scale 1 to 10 where 1 is low and 10 is high.
1 You can envisage several regions in your country and other countries where there are good opportunities for your type of services and/or products
2 Your particular services/products would be attractive to your potential customers in these regions and countries
3 You can protect your Intellectual Property (IP) in these promising regions and countries
4 You can scale up your operations to service these promising regions and countries
5 You can develop strategic alliances to break into these regions and countries
6 You can use modern technology to break down the barriers and lower the costs of entry in these regions and countries
7 You can adapt your current off-line and online marketing tools for these regions and countries
8 You can get support from Government agencies responsible for developing national or international business (e.g. the UKTI)
9 Your bank can provide you with additional finances to grow your national or international business
10 You can find effective distributors in your target regions and countries
Your total score out of 100 (%)
What is your key strategic conclusion about your total score and about your potential for growing your business nationally or internationally?
Thirdly the peer-to-peer advisory board help you define your key goal for growth and the benefits to themselves.
If your total score from page 2 is encouraging, use the 10-factor assessment to define your 3- year GOAL for growing your business nationally or internationally (e.g. Develop our business in 4 Northern European countries via distributors). Make your 3-year goal BOLD yet MEASURABLE. Write it in 10 to 12 words starting with an achievement verb. Write your draft goal in the box below: Now write your goal on a small post-it and place this in front of you.
What will be the benefits to you and your company from achieving this goal?
a) To you personally?
b) To your senior team?
c) To your people?
d) To your company?
What will be the beneficial financial impact on:
In 3 years
Your annual sales
Your annual operating profit
Your profit multiplier
Your company value
What is your likely investment in money over the next 2 years to achieve your goal? ________
When you achieve your goal, what is the likely return on your investment (ROI)? i.e. a low, medium or high ROI___________________________________________________________
Fourthly the peer-to-peer advisory board help you identify your priorities for growing the business nationally or internationally.
Identify your strategic options
What are your strategic options for achieving national or international growth?
Identify 2 preferred strategic options below.
Write each of your preferred options on a small post-it (one priority per post-it). Then place your goal and your 2 strategic priorities on the plan on page 6.
a. Use your existing sales team to make sales in your target regions and countries
b. Set up your own marketing and sales office in each target regions and country
c. Work with your larger customers in multiple regions and/or countries
d. Develop your web sites specifically for your target regions or countries
e. Develop your referral strategy
a. Build strategic alliances with companies who are well established in your target regions and countries
b. Find and appoint a distributor in each of your target regions and countries
c. Build Dealer Networks in your target regions and countries
d. Licence your services and products to companies in your target regions and countries
e. Appoint agents to find your ideal distributors
f. Joint venture with or acquire relevant companies
Identify your marketing options
Using the list below, please asterisk your 4 preferred marketing options and then write each option on a small post-it. Then place your post-its on your plan on page 6.
Level of Effort
1 Marketing Materials
c) Information guides
d) Sample packs
2 Broadcast Media
b) Publicity & PR stories
c) Feature articles
f) Advertising on digital TV
g) White papers
h) “Prime the media” activities
3 Direct Marketing
a) Direct mail
c) Directory listings
d) Joint promotions
c) Public speaking
e) Trade associations
f) Chambers of Commerce
h) Hospitality events
5 Online Marketing
a) Website development
b) Electronic Direct Marketing
c) Pay per click
d) Search engine optimisation
e) Customer Relationship Management (CRM)
f) Relevant social media
g) e-mail marketing
N.B. Just for your 4 chosen marketing tools above, score each of these in the 3 columns as low, medium or high.
Fifthly the peer-to-peer advisory board help you create a plan for national or international growth.
Lastly the peer-to-peer advisory board help you take massive action.
The profound impact on you and your company of growing your business nationally and internationally is that you can significantly increase your sales, profit and profit multiplier by successfully implementing your plan.
If you would like to find out more about how The Alpha Group members grow their business nationally and internationally 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.