Identifying your market landscape can grow company worth
When you look to sell your company one day, a potential acquirer will want to know where your company fits within the industry in which you serve. Knowing where you fit within your industry landscape will help you in knowing where to place your bets, or investments, for the future.
Company owners and CEO’s in every industry have to place bets. Think about the time when owners had to place bets on the horse and buggy or the automobile. Today, making bets on whether gas, electric, hydrogen or some other fuel will power our cars and planes in the years ahead. Or will the cell phone be the mobile device that consumers will use or will it get replaced over time with AI display glasses that some believe will beat out the cell phone device. So ask yourself, what bets am I already making about my industry and what bets should I start thinking about having to make to not only protect my business but also to enable it versus my competition.
To know where to place your bets, you’ll want to develop a market landscape. In a market landscape, you’ll be identifying things such as;
- Where is my company positioned today versus key competitors? Think about positioning related to price, quality, availability and value.
- In this world of Good, Better and Best offerings, where is my company positioned? Where do we think we should be positioned tomorrow? Serve one of these markets, two or all three?
- Where does my company fit in the value chain that customers derive from working with our product or service? In other words, where does your customer derive value in using your product or service and which parts of the value they derive is your company fair at, good at or great at?
- Where the customer sees value today in the product or service you provide, do you anticipate this might change in the future as their needs or even new technologies become available?
- How do you think your industry market landscape might currently be changing? How might it change in the next decade? How would these potential changes impact your company and what bets do you have to make?
Don’t place the bets on your company blindly. Conduct a market landscape assessment for your company to see where you fit today and to start generating ideas on where you might want to evolve your positioning for the future. Avoid having market forces change your company as this will have you playing defense. Be on the offense so you maintain control of a positive future outcome for your business. Call us (949.874.0787) as we can guide you in how to develop your market landscape and help you accelerate the growth of your company worth.
