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MARKET ENTRY & ESTABLISH GROWTH STAGE

 

COMPANY CHARACTERISTICS

After the ‘concept and initial product make’ start up phase, the next stage of the entrepreneurial enterprise, typically 12/18 months after establishment and up to 5 years later, is driven by the imperative of making sales. Without sales, there is no survival. The market is approached in a random and disorganised way initially. Low-hanging fruit is the objective.

It is at this point that the crisis of leadership intensifies and the first revolutionary period begins. "Who is going to lead the organization out of confusion and solve the management problems confronting the organization?" The solution is to locate and install a strong manager who is acceptable to the founders and who can pull the organization together. This leads to this evolutionary period-growth through direction.

As the stage progresses the company finds a niche and a formula for repeat business. Successful business patterns replace ad hoc experimentation and not knowing where the next piece of business will come from. The following emerge within the venture: a functional organization structure, accounting, capital management, incentives, budgeting and standardization of processes.

 

COMPANY GROWTH GOALS & DRIVERS

MARKETING & SALES

Growth Goals (measureable objectives)

  • Is my market positioning right?
  • Is my ‘brand personality’ right?
  • How do I win repeat- customers?
  • Has my business model changed with market place feedback?
  • Who else do I need to sell to?
  • What new channels to market do I need to exploit?

Growth Drivers (strategies and tactics to achieve the goals) 

  • Promote the new product with Personal Selling, PR, Promotions ( exhibitions), Direct & Online Marketing
  • Capture initial customer accounts and commercialise.
  • Create your customer-repeat business formula
  • Get revenues flowing in, to fund big sales push.
  • Fine-tune the business model ( positioning, product,price, place, promotion) in the light of market place feedback
  • Build/adjust your brand position with PR ( customers, collaborators , analysts as targets) and Promotion
  • Scale the business with a focussed product/market strategy- pull back from ad-hoc product adjusting from ad-hoc requests

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