Growing the existing business
The (grand)parents represent the existing products or services that provide today’s income of the family. They are characterised by predictability, meaning it is possible to extrapolate from historical data as markets, players, technology and products are known. The customer knows what he wants and opportunities may be identified by market research and competition analysis. A detailed plan can be developed and implemented; employees will work in projects according to a strict scheme of forecasting, prioritisation, budget management and individual development plans. Progress will be measured by monitoring the deviations from the plan. The plan-do-check-action cycle is applied. The projects leverage the company’s competences and resources and, in case the product, technology or market application is new to the company, it can be acquired or a partner/supplier can be found, as it is available externally. Execution is the key to success. They are successful companies, gaining market share at the expense of competition (Red Ocean) by recombining existing resources in a creative way and by finding smarter and faster ways to climb to the top of the mountain.
- How to find the right balance between existing and new business?
- How to add new business that requires a different way of working, set-up and mindset that is conflicting with my business of today?
- How to overcome the ‘not invented here syndrome’, as it limits my company to think out of the box?
- How to stay sensitive to my environment in order to learn and adapt?
- How to adapt my performance managements system as it currently only rewards the business of today and discourages the business of tomorrow?
- How to validate and valuate new business cases?
- How can I encourage my people to think and act more like entrepreneurs?
Our services and expertise: