Faster Growth Comes From 5 Dimensions - By Dr. Peter Cohan at Babson College
The excerpts are taken from Five Commandments for Faster Growth by Peter Cohan, Lecturer with Babson College published at Knowledge at Wharton (A business journal from the Wharton School of the University of Pennsylvania). Companies can find growth along five dimensions, ranging from the most basic to the most challenging. These dimensions can either be the same as those in a company’s existing practices, or reflect new and different parameters. Customers, Geographies, Products, Capabilities, and/or Culture. 1. Find growth from current or new customers Segment your current customers. Identify how much of your revenue comes from each segment. Analyze the broad trends – such as evolving customer needs, changing economic conditions, or new technology – that might boost (or contract) growth in these segments. Estimate your company’s share of the most important segments. For saturated segments, identify new segments that would be interested in buying your product and interview potential