Opportunity-based growth means getting your business ready to turn change and uncertainty into fuel for growth. It plays to the strengths of SMEs, which can't match the market power of large businesses, but which can react more quickly.
Traditional strategy is based on careful and long-term analysis of the market: for SMEs, this is usually a feel-good distraction.
Getting ready for opportunity-based growth is in fact a strategy: a modern, responsive strategy. A strategy of becoming faster, more informed and more flexible.
To become ready for opportunity-based growth, a business needs to tick these boxes:
- Good knowledge of why it really wins business: what part of the offer is most valued by customers
- Very good insight into the short-term cash costs of saying yes or no to business opportunities
- Excellent awareness of profitability per product
- The ability to make fast decisions about investiing in opportunities (new products, new customers, acquisitions)
- The business needs a pipeline of new products and new ideas
- The courage to exit products and services when they distract from the future
GrowthPath brings to Australia a strong international track-record of transforming to become an opportunity-aware business