When you have been in an industry for a long time, it is easy to assume that the way things are done is how they should be done. This applies to so many different businesses that operate under industry legacy models.
One of our clients decided that change was required as his industry had become a red ocean of small providers, making small margins and driving prices down.
Having identified that it wasn’t the product that was the value add but the creativity, strategy and logistics, he set about redefining how he operated and positioned the business.
This was a fairly straightforward task with so much industry knowledge, but there was a catch. He wanted to level up his stake in the market and the types of customers he was able to acquire. Like many businesses, he was winging it and doing a good job,
That’s when he reached out to us, wanting to know more about how he could develop a more purposeful approach to his strategic planning. We managed to identify a few things through an initial discovery process that enabled him to see how the strategy could play a significant part in his growth as a leader and the business.
- There was a strong value proposition that the market didn’t understand
- He had so much talent in the business, but it wasn’t entirely focused on core strengths
- International research provided new business model options and market validation
- The resource was stretched, and there was a clear strategy to grow the team
- International expansion was a potential, but no idea how to implement that strategy
- The owner felt that their ‘superpowers’ were being stifled by the day to day, therefore not feeling fulfilled and being able to focus on what they love, sales growth.
By understanding these strategic opportunities, we were able to work with the client to focus on these core areas
- Focus on the critical capabilities of the team, including how the owner wanted to lead the business forward
- Design and support implementing a rolling strategic plan that he could follow and deliver massive action on
- Support the development of the business’s resources and how to grow future capability
- Develop a highly focused marketing strategy that aligns directly with the overall business strategy.
Through this journey, we not only understand how the business works but precisely what the business owner wanted as an outcome for himself and his family. We were also able to develop several strategies and provide implementation support to ensure the ideas saw the light of day.
This is another example of a clever, successful and highly profitable business seeking outside support to challenge their status quo to ensure that they leave nothing on the table and lead the market their way.
Do you believe you are leaving opportunities on the table and need help identifying your core capability and growth strategy?
(Our case studies are anonymous due to the impact the changes make on the business, those involved and how the market responds. We pride ourselves on our confidentiality and integrity when developing life-changing business strategies through our strategic coaching).