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This grid helps you determine a strategy for building your business. It organizes the business into two critical aspects or emphases:
--all the customer buys
--who buys from you |
With each emphasis, you can further organize by two factors:
--already in place
--different from what's in place. |
The strategy you choose depends on which combination of emphasis and factor you choose.
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This strategy calls for more market penetration. You need to go for more business from the same pool of customers and from others just like those customers.
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This strategy is the riskiest because it calls for working with what is least familiar and to attract a different market.
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In today's economy, small business owners do better with these two strategies:
You already have something people buy. Find new customers elsewhere who don't already know about you.
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Cross-promote with complementary businesses. A massage therapist and beauty salon owner tell their customers about the other's services.
Your clients are happy with you and what you offer, so find additional products you can offer to increase your value to your clients.
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Share the best practices of some clients with other clients. An executive coach interviewed a few CEOs and presented other clients with a program for bringing new strategies into their businesses.
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