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OK, so you have determined that investing in a new market is the right way to move your company forward. And you have determined which is the best market segment to focus on. The next challenge is determining how you actually get into that market, in other words what is your market entry plan? Your market entry plan is going to be highly situationa...
Read MoreI have worked with senior managers and executive teams who wouldn't recognise strategy if it bit them on the proverbial; conversely, I have worked with great strategic thinkers in the most unexpected places with much less responsibility. The ability to think strategically has nothing to do with your role or seniority, although one hopes that execu...
Read MoreWe often have a strategy for this and a strategy for that - and we have strategic plans etc. Having quantized approaches to achieving goals can work well, especially when you know where you are and you well understand the nature of the system around you. However, when we are running businesses, with bigger, fuzzier and further out goals and much m...
Read MoreAnyone remember VUCA? It’s an acronym that stands for Volatility, Uncertainty, Complexity and Ambiguity. I’ve used VUCA as a strategic planning tool when trying to understand what was going on around me and so increase the chances of coming to an optimal course of action. As a concept, it was first described by the leadership guru Warren Bennis in...
Read MoreThere is a great analytical tool called PESTLE - an acronym for Political, Economic, Sociological, Technological, Legal, and Environmental. It is typically used to ensure a thorough scan of all external factors affecting a proposed plan of action. You use it to identify the forces working for you and against you – and your competitors – and your cu...
Read MoreThe talk about ‘recession’ has many owners rattled. Most of you reading this own small or medium sized businesses and by corollary have a small share of the markets you serve. If the overall market you serve shrinks by 1% it will have very little effect on your ability to expand. Your growth, or lack of it can’t be attributed to the overall economy...
Read MoreMost people think outward from themselves through their sales channels on then on out to their end users. That approach is wrong. It leads to a channel centric sales approach. Instead think about the ideal customer for each product or service you are selling and then think about the best way to connect with them. The channel is in fact a bridge bet...
Read MoreI spent most of last week with about 500 people at the North American MGB convention. Between us, there were about 250 cars - most of which were made before 1980. People came from all over the continent in a spirit of friendship and friendly competition. The highlight of the show was Wednesday’s “Car Show”.
Read MoreWe are in the process of running a series of webinars across the Baltic States and Scandinavia; this is part of our Look West program where we assist companies get a foothold or expand in North America. We are often asked if we know anyone in a particular industry. For example, do we know anyone in the marine industry? Have we got any connections w...
Read MoreOne of the most useful things in business is to know where to play and how to win. It would be great if you could stake your claim and then settle in for a lifetime of success. Unfortunately, someone, somewhere is trying to steal your business. So, what to do? I typically ask four questions when I meet a new company:
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