How To Change Entire Industries

If you’re failing to achieve the kind of traction you desire with your business, you may be plugged into the wrong source for growth.
Identifying where you will source your growth is one of the most commonly missed steps in designing the right strategy for your business.  Unfortunately, if you fail to get it right, it can have lasting repercussions on how you define and deliver value to your target customer.A critical exercise in the early-stages of building a strong strategy is to declare the market in which you intend to source growth.  This allows your team to evaluate the opportunities to create new or better value for a target customer.  This kind of analysis begins to lift the fog and provide clarity as to the winning value proposition that you can use across your brand marketing, product development and execution in the market.

There are no shortage of companies that have identified the right market sources for their future growth and subsequently, match their value proposition to win in the market.  Here are just a few examples:

Sonos.  Bring all your music to every room, wirelessly.

Sonos clearly identified the wired speaker market as a source for growth and designed a value proposition that delivered the first wireless solution to the consumer who loves music.  So, if you love to listen to music and are still doing so through a tuner and components system that delivers sound via wired speakers in ceilings and walls, then Sonos is for you.

Dyson Airblade.  No more waste, no restocking, and no paper mess.

Dyson identified the commercial restroom paper towel and dispenser market as a source for growth in leveraging their technology to create a revolutionary (better) way to dry hands after washing.  If you’ve never used a Dyson Airblade, you’re in for a treat.  Not to mention a visit to a clean bathroom with no paper mess.

Uber.  Your shortcut to everywhere is arriving now.

As in the case of Dyson and Sonos, Uber was clear about putting a stake in the transportation market as a primary source for growth.  Uber improved the overall experience of getting a ride wherever you are and whenever you want – hence the shortcut.  You can literally watch your car on your smartphone arriving to pick you up.

Microsoft Surface Pro 3.  The tablet that can replace your laptop.

Just another tablet, right?  Wrong.  The Surface is not aimed at winning market share in the tablet market (that may be a future by-product), instead, Microsoft seeks to source its growth from laptop market.  When the original Surface Pro was launched a few years ago, it was quickly lumped into a growing tablet market with Apple and Samsung and did not possess a distinct value proposition or sharp messaging to win in the right market.  The recent launch of Surface Pro 3 brings a much sharper value proposition to the marketplace, and consequently, the sales have been much stronger.

The above are 4 examples to provide some illustration and deeper insight to how the market you choose to play in and source future growth ultimately provides clarity in building the right value proposition.

If you put a stake in the right market, it has the power to change everything.

Including entire industries.

If this post resonated and you would like to learn more about how to unleash new growth potential for your business, click for a complementary exploratory session.  And, should you have a colleague or friend who you think might benefit from this message, please share with them. 

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Founder Todd Garreston

With over 15 years of experience leading market share growth initiatives of top consumer brands in Fortune 500 and privately-held business environments, Todd Garretson advises and helps organizations identify new growth potential, craft strategy that moves people to action and enhance overall performance.

Having a passion for helping people and organizations to unlock dormant growth potential, Todd writes and speaks for audiences in three core areas: business growth strategy, leadership and personal / professional growth.

Residing in Atlanta, GA with his wife, Lauri, and their four children, weekends and free time are spent with family, coaching youth sports, and sharing his passion for fitness and nutrition.