How can your middle market company grow and maintain the upper hand in a competitive marketplace? The answer may reside in a magical sea of your own making: the new market space. It’s where market share is limitless and yours is the only ship on the horizon.
Sound wishfully far-fetched? It need not be. According to W. Chan Kim and Renee Mauborgne in “Blue Ocean Strategy,” any company can become the leader in a market of its own making. That’s because no matter the industry or service, your greatest asset as a company is your innovation. Offer a never-before-seen product at a manageable cost and your competition becomes “irrelevant,” the authors argue, because there will be no one else to compete against (as least for a little while).
How will your company discover its Blue Ocean? Through innovation! This strategy, requires a company to think beyond current market trends. Companies need to find the next generation of products. They need to uncover new ways of selling and reaching customers. Sometimes hiring the right team, or bringing in an outside consultant can add a creative, dynamic dimension to your business. New ideas, round-table discussions and an open attitude creates an innovative atmosphere.
Investing in your business is often the difference between a static business model and a dynamic one. It’s the dynamic business that will access smooth passage into Blue Ocean territory. Once there, not only can you amass unlimited market share and, if your ship is managed correctly, profitability. Here’s where valuations really begin to develop depth. Rather than being locked into a low exit multiple with peers, a Blue Ocean worthy company will command a premium exit multiple.
When you find that Blue Ocean, be ready to set your sails to capture as much wind as possible. With a modest level of investment capital on hand, you can scale more rapidly, innovate more effectively and deliver a stronger value proposition to your customers. The rest, as they say, is smooth sailing.
To learn more about business growth and middle marketing funding opportunities, please visit https://www.attractcapital.com or email us at [email protected]