It is not easy for a business leader to plan a rapid growth while running the business. Yes, we can say that without getting into the question whether you are working on the business or in it. Obligent can walk that path with you. At the end of this exercise you would have a plan that you can implement.
But first, why you need a strategic growth plan.
Your business is like a shark. It either keeps on growing or it dies. There is no room for status quo. When it seems to be stagnant it might actually growing fast enough to maintain a status quo. Obligent would help you pick up pace to the extent your business model can handle.
That brings us to the other question we have. How do you grow? Better marketing of newer products and services can improve some sales. Better processes improve profitability. Leaving the business model as it is means that you leave money on the table.
Talk to us about a balanced growth strategy. We will help you to model your growth. Grow your business by including business model innovation in your business model.
What would you get?
The answer here is, “it depends.” It depends on why you would explore this. If you want to grow your business you would have a growth strategy. If you are seeking funds you can take our strategy to your investors or bankers. In that case we can also bring in our partners to help you use the strategy to build out the business plan.
How would we do it?
Our Growth Strategy Plan method has two major stages. These are the “Peel Back” and the “Build Up” stages. In the Peel Back stage we review your business as it currently exists. Then we perform a SWOT analysis of the current business model.
This leads us into the “Build Up” stage. In this stage we design alternate scenarios of your future model. Once we are reasonably confident of the future path, we put together a detailed plan of action.
A. Acquire perspective
B. Unbundle the business
C. Analyze value proposition
D. Model growth
E. Validate alternatives
F. Plan for growth
Here are further details for each step
A. Acquire perspective: We combine our perspective of the market conditions with your knowledge of the business. The factors considered are trends, market, industry, and economy. This provides us with the context before we start peeling back the layers of your business.
B. Unbundle the business: The purpose of this step is to isolate the layers in your business. Obligent will identify market segment and offering combinations. Each combination is like a slice in a pack of cheese singles, where the pack is your business as a whole. Each slice has its own set of channels, relationships, resources, activities and cost structure.
C. Analyze value proposition: Here we identify how your products & services relieve your customer pains and help them achieve their goals. This is where we also frame the answers to the “What is in it for me?” question that your customers ask.
D. Model growth: In this phase we transition from peeling back the layers to building up the future business. We review the findings and implications from the earlier phases with you. We jointly explore models that would significantly improve the current business performance. The tools and techniques we use include SWOT analysis, Business Model Canvas, and Value Proposition Canvas. The output for this phase are alternative “prototypes” of your enhanced business model.
E. Validate alternatives: We test the prototypes developed earlier in the market with a controlled budget. We keep you informed of the results. This puts some guard rails around the direction the future business operations.
F. Plan for growth: This is where it all comes together. A specific detailed plan of action is recommended to give legs to the growth strategy.