How to grow your business
One of the key ideas of entrepreneurial marketing is that you need to use different skill sets at different stages of the business or product cycle.
Sometimes - when you are starting or re-inventing the business (or developing new products) you need to operate in an exploratory way where you are still co-creating the business offers with your selected group of customers and are recruiting the other members of your value network. At this point your are focusing on building collaborative relationships.
At other times, once the way forward has become clear, you are much more likely to have to operate in a managerial mode where your focus is on delivering a reliable product offering and on taking cost out of the business model. . At this stage you will be focusing on exploiting the progress you have made, you will be focusing on transactions and will be working to collapse your initial value network into a more conventional value chain. We can illustrate the process like this.
As we all know, business does not progress in a straight line and you have to be always alert for new opportunities and income streams that can be developed.
The tension between the need to explore and the need to control requires a great deal of self knowledge to use the two. As the business grows, you will find that the need to become formal increases. If you want to build your business by starting to trade with larger organisations, you will need to greatly increase you ability to monitor what you're doing and to present your capacities in a way that emphasize your ability to be a safe and reliable partner
If you need help with these or any other questions please telephone us on 0845 094 0407 or complete the form below.
Contact - To discuss how we can help with your business growth or marketing ring 0845 094 0407