Go to Market strategy – The Steve Jobs Way.
Entrepreneurs and business leaders get itchy feet – they see a new digital opportunity in the market – their new blue ocean – it is tempting.
All the research shows many upsides to a short investment window before significant profits roll in.
Typically it works like this.
- Identify an existing product(s) in an industry that has yet to be sold online.
- Gaps in the market are found where you can provide a better offer and make more.
- Create a better, faster, simpler, cheaper or all of the above to sell the products and services on the new digital platform.
- Buy digital advertising to drive buyers to the website -platform,
Advantages include
- Complete control of your growth by controlling your advertising spending,
- Early lifetime value to customer acquisition cost (L.T.V.: C.A.C.) ratios and financial returns are likely to be strong,
- Significant growth is possible if the cost of acquiring a buyer is lower than the business’s gross margin you sell to that buyer.
At this stage, most businesses have a single product or service offer. (Casper Mattresses – one model only, multiple sizes) with a unique offer – Casper mattresses come in a box.
Next horizon – commoditisation,
As new competitors enter the market, the startup will either find new channels or expand their overall margins by cross-selling and upselling – hopefully leading to more revenue and higher conversions.
New products and services arrive – complicating the first offer – that was so successful. The buyer would need clarification – if the first model were the world’s best mattress – what are the second, third and twentieth models?
The new competitors quickly act to attack your offer by copying it, offering a different but better offer, and providing a different distribution model – in short – your business now finds growth has stalled – worse, you are slipping back, and losses are appearing.
Leadership decision choices
- Spend more than its competitors to acquire new buyers,
- Until the cost of acquiring a buyer overeats the margin, the hope is that your competitors will act more rationally – when you aren’t. Hope is not a strategy.
- Better still – differentiate, and reposition your offers to provide a better service – be more profitable – find an adjacent and less contested blue ocean,
There are a few other ways a business might escape destruction:
- Find a lower cost of capital than any competitor – generally, this involves a long-term investor,
- Build higher expected value by being more trusted, credible better communications + marketing and execution – a better run operation.
- Build a lower cost structure than competitors.
The next horizon – business models
- Shifting from B2C to B2B2C
- Shifting from B2C to B2B
Shifting any business Go To Market strategy from
- Direct-to-consumer (D2C),
- B2B,
- B2B2C,
It is like starting another business – it is as costly and requires time, new focus and often new staff.
The most complex and costliest part is reinventing itself while continuing to operate the existing business under competitors’ fire.
Choices are limited; taking resources away from the main driver of revenue and allocating them towards the new business might not lead to growth in the short term — and may never lead to growth at all and add further losses.
Use This Strategy to Grow Faster and Get More Buyers Now.
It works for Apple, Salesforce, Patagonia, Allbirds, Casper, and hundreds of thousands of the best in the world.
The businesses that started in a bedroom, garage or car – it’s what drove Salesforce from 13 staff in New York City to a multi-billion dollar operation and tens of thousands of staff.
How did Marc Benioff, C.E.O. of Salesforce with 13 staff, learn about the framework?
Twenty-plus years ago, Steve Jobs, the then-Apple C.E.O., mentored Marc.
The thirteenth employee of Salesforce was Tien Zhou – the newly appointed marketing director.
Tien says – the framework – always works.
He went on to build Zoura – a subscription business – and grow its valuation to over $1 billion.
Let’s scale your business faster – using the same five-step framework as the best in business.
Imagine more of your ideal buyers lining up to purchase your products and services; now, you can do better.
- Hit your income targets more quickly,
- Make a more significant impact,
- Change your buyer’s world,
When you have a multi-decade globally proven business framework that solves a painful problem – how to grow faster, build your business valuation and more profitability – you need to tweak these five steps correctly:
- Update your business’s trustability, credibility and purpose,
- Streamline your business WHY: If I am your ideal buyer, why should I only buy from your business rather than your competitors?
- Explain your WHY as a powerful story and elevator pitch – on average, your business will be remembered 22x more,
- Be seen and heard more on organic social media platforms: social selling,
- Get strategic on your marketing spend. Sell more with more omnichannel selling,
The framework is called the Balanced Growth Scorecard.
What took Steve Jobs millions of dollars to get the same results, the Balanced Growth Scorecard tweaked appropriately can get your business there in a fraction of the time, cost and a lot less pain.
If Steve Jobs suddenly took control of your business, how would he 10x your profit?
Take this Advanced Growth Quiz that compares your business to the Balanced Growth Scorecard.
Your business gets a detailed gap analysis and blueprint based on your results – free.
https://professionalquiz.accelerateyourbusiness.today/david-ftefb3ol
