Small businesses must constantly strive for growth. But growth for growth sake can often lead to disaster. This presentation describes a better way to achieve top line growth without eroding margins.

1. Finding New Sources of Business
Presented by Mike Reddy CA

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What We’ll Cover
o Analysing your business
o Growing your top line without
compromising your bottom line
o Setting growth targets
o Finding new business
o Measuring your progress

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The Importance Of Growth
o Businesses need to grow
o A focus on growth
protects your market
share
o Businesses that can’t find
new sources of business
will fail

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The Cost of Getting It Wrong

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The Benefit of Getting It Right

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Valid and Sustainable Competitive Positions
Price
Leadership
Differentiation
Unsustainable
Unsustainable
(High)
Quality
Price

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Case Study – Vehicles
Quality
Price
Value Add Value Add
(Low) (High)
(Low)
(High)
Price
PriceHyundai
Lexus
Mercedes
Mazda
Toyota
Where are you?

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The Revenue Model of Business
The number of customers you start with
-
The number who defect
+
The number you acquire
x
The frequency of transactions
x
The average value of each transaction
Total
Revenue
=

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Growth Strategies

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Growth Strategies

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Growth Strategies

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Growth Strategies

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Diversify Your Offering
o Sell your existing products to new customers
o Sell new products to your existing customers
o Sell new products to new customers

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Are You Set For Growth?
o Increase customer spend
o Increase share of market
o Diversify your offering
o Enter a new market
o Sell to government
o Form an alliance or partnership
o Establish a joint venture
o Merge with or acquire another business

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WiFi – Stay Longer, Pay Longer
o If customers stay longer you
earn more
o Business people need internet
access
o 86% use smartphones on the
go
o People stay longer – business
up 40%

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Increase Your Share Of Market
1. Competitors’ strengths?
2. Competitors’ weaknesses?
3. Why do customers buy from your
competitors?
4. How can you communicate a better
value proposition?
5. What is your UCD?

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Enter A New Market
1. Who are your potential customers?
2. What do they want to buy?
3. Who are your competitors?
4. How will you market your products?

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Alliances Suit Small Business
o Create opportunities for small businesses
o Save time and money
o Cooperative arrangements benefit SMBs
o Share expertise, assets, expenses and risks

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Dare To Be Different!
o Growth from day one
o Be unique
o Create differences

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Drive The Business With New
Products
o Every product has a life cycle
o Monitor your products and your market
o Is demand rising, static or declining?
o Have new products ready

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Summary
o Many ways to achieve
growth
o Develop growth strategies
based on strengths
o Set growth targets and
measure progress
o Either grow or go out of
business
o Be patient for growth BUT
impatient for profitability

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