It is no surprise that the last few years have been tough for the entire world. The business landscape has been uncertain, business models have been questioned and disruptions have been part of the everyday climate.
For organisations to thrive, and even survive in this environment, business leaders must navigate the firm in a rather pre-meditated and precise manner. Note that what got you this far will not necessarily gain you the distance and momentum you seek in the years ahead. Although each industry is unique and your market position within each industry will dictate the next steps, here are four moves that might come in handy:
- Leverage supply chain partners to come up with innovative products, services and solutions that meet the evolving needs of your customers.
- Forge alliances with partners in the value chain which enables both parties access to each other’s client base.
- Becoming a specialist provider (rather than diversifying) to make your firm attractive to other firms for partnership.
- Build a new brand, either as a spin-off of your existing one or through a partnership with another firm to serve specialist sections of emerging markets.
You see, changing the direction of your company is not always about making radical or bold moves. Sometimes it is about starting with understanding the core of what your business is about, doing market position analysis, fully understanding the value chain and all actors involved, and then making an adjacency move to initiate a new value chain or become part of an existing value chain.
Have you conducted a robust market position analysis? Are you questioning the relevance of your existing strategy? Are you making the right strategic moves? Are you pouring time, effort and money into your business, but not seeing the expected or desired rate of return? Do you work on your business strategy in a deliberate and premeditated manner?
We help B2B businesses define or refine their strategy. More pertinently, we help question their existing strategy. We assist with market position analysis, and provide strategic advice and consulting on various facets of strategy. Our services include market strategy, adjacency strategy, vendor/alliance strategy, and diversification strategy.
Our aim is to work with business leaders to help them make sound business decisions. We find more often than not that the issues businesses face are caused by strategic issues. So whether you are looking to enter a new market, create a go-to-market, develop a channel strategy, reshuffle strategic priorities, discuss execution, soundboard talent issues, have a conversation about your financial or resource constraints, let’s connect, let’s talk. Let’s discuss the challenges you are facing or objectives you wish to meet. Let me work collaboratively with you to help you get there.
Connect with me on LinkedIn: @RK from Resonate
Email me: RK@resonate.com.au
Call me: 0412 517 237
RK (Rahul Kumar) is the Founder & CEO of Resonate.