Although imitation may be the sincerest form of flattery, it doesn’t guarantee success. Assuming that the success of one business assures the same result for yours is a bit absurd because fundamentally the two companies are different, each with its own challenges, strengths, cultures and dynamics. You may think this concept is self-evident, but I’ve …
Tag: Growth Strategy
Discounts Don’t Drive Growth for Consumer Staples
Facing a stagnant market, retailers of consumer staples have turned to aggressive discounts to drive growth. According to the Wall Street Journal, more than 50% of consumers’ purchases include markdowns! More Discounts is NOT More Growth Businesses in non-growth or declining growth markets understandably must find new ways to capture market share. However, offering more …
Growth Strategies for Credit Unions
I was invited to write an op-ed for the Credit Union Times for their focus report on growth strategies. While there are a variety of options to consider when exploring implementing new products and services to grow, credit unions can only grow by meeting the needs of future members. I offer five ways to pursue growth …
Expanding in a Declining Market
Verso Paper announced that it would acquire NewPage Holdings in a deal worth $1.4 billion. NewPage rejected a similar offer from Verso in 2012, also valued at $1.4 billion. So what changed this time around? Quite simply, it’s the environment: Both paper companies realize the paper market is shrinking and that’s not about to change …
What Apple’s Slower Growth Means for You
Apple’s growth has slowed significantly. USA Today reports that its gross margin dropped for the fifth straight quarter to 36.8% of sales and that iPad sales are down by 16%. Apple CEO Tim Cook has recognized Apple is in a mature, slow-growth market. If a company that grew steadily through the recession and whose stock …
Growth Pathway # 3: Be the Low Cost Provider
Sometimes organic growth can be achieved by dramatically cutting costs. I call this the “jellyfish strategy” : you go up when the tide is up and out when the tide goes out. There may not be many natural predators, so you will survive, but this approach is unlikely to drive long-term expansion. Note, that being …
Less is more?
When you hear the word “grow,” you probably think of getting bigger: having more customers, more markets, more products, or more revenue. I prefer to see growth strategy as a way to recalibrate your company, enabling you to become increasingly focused and effective. Recalibration is a continual necessity today, because economic and technological changes are …
