Home > Ideas > Don’t hesitate … take that leap!

Don’t hesitate … take that leap!

“I am operating in this niche market because my business is not currently set-up to handle the other segments!”

“I haven’t been able to allocate time to explore that new business opportunity although it would nicely mesh with my present portfolio.”

Entrepreneurs / Business Managers, have you ever felt this way?

James is offering niche network security solutions to enterprises; he has built a good portfolio and business is steady. The customers are happy with the service because he has put an excellent support team in place; this is substantiated by the repeat orders and referral business his organisation has been winning. But growth is not spectacular.

I used the word Niche, now let me add another – Competition! There is no market in the world that is the playground of a single player. Although James represents two leading International brands there are many other known names in that business and he faced stiff competition from principals, national level-vendors and local resellers.

James realises that the only way his business can be grown to the next level is by breaking out into another segment – open a new front. His strength is the Enterprise Business practice – it means few players, big ticket-sizes and bigger margins. But it also means a limited market and risk of a huge drop in revenue even if you lose just one customer.

James is acutely aware of the dangers involved in treading such a narrow path and is actively exploring ways to enter the SME and SOHO segments.

It will mean a totally different game plan – being in the 50s now he does not have the energy to run around the market for business like a young buck nor is he ready to directly deal with a bunch of Salesmen. James will have to appoint a Sales Manager and entrust him with task of developing the new segments.

More than the investment James is more worried about having to deal with the market dynamics in the SMB / SOHO segments and new circumstances at the workplace. He could visualise the calm and laidback office being turned outside down by a feisty set of Salesmen.

But the unexplored segments were too juicy to be left alone – it had a lot of potential, much more than the Enterprise segment.

However, it called for a change in attitude and a complete recast of his business agenda.

While James is working on his plans I request you to look at yours … Are you hesitating at the brink of a chasm? What is stopping you from taking the Big Leap?

Advertisements
Categories: Ideas Tags:
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: