09 Mar 10 Principles of Successful Business Strategies
Let’s talk about organic growth strategy. Half of Revenue Rocket’s business is focused on organic growth strategies for IT Services companies – we’ve been providing guidance for over 20 years. We have developed a method for a systematic business transformation bringing critical stakeholders out of the reactive and into the proactive, allowing firms to become top-quartile performers. We do this by implementing our Specialize, Verticalize, and Productize model – SVP.
Listen as we dive into the 10 Principles of Successful Business Strategies in this episode of Shoot the Moon:
- Strive to be the Number one or two player in your market(s)
- Clear, consistent competitive strategy builds reputation and recognizable industry position
- Don’t “get stuck back in the pack” – be relevant with a specialty that gives you competitive distinction and insulation
- On top of a specialized focus, you need to market it!!
- Play aggressive offense to build competitive advantage & aggressive defense to protect it
- Avoid strategies that only succeed in the best circumstances
- Adapt! Learn to love change and make it a competitive advantage, NOT inflexible strategies (ex. pandemic?)
- Never try to win on price with your clients – create value!
- “differentiate, differentiate, differentiate, or die!”
- Be aware. Aggressive strategic moves to wrest crucial market share from rivals often provoke retaliation in form of marketing arms race or price wars.