PP3 - 12 Steps to help you reach your goals and build your business

Let's discover the Pivot-Point number 3: the market

Owners (or the proxied corporation) choose the broad environment (market) in which to participate in order to extract the benefit sought by owners.

This doesn’t imply that these choices are always correct. Sometimes decisions to embark into new markets or industries are disastrous. The fact remains however, that a choice is made as to how and where owner benefits will be harvested.

The way you define your market is the first and fundamental foundation of your revenue potential. Get this wrong and you will either fail to satisfy your objectives, or you will do things that aren’t necessary, or you will waste a lot of time and effort, and probably disenfranchise your customers.

The golden rule: the total of outcomes from all market segments must deliver the organisation’s objectives.

Ultimately, all your objectives must be derived from your definition of your market or markets – there’s nowhere else to get them from.

• How clear are your various market segments?
• Have you done the research to understand the decision-makers in each segment?
• Why will the decision-makers in each segment buy from you?
• To what extent do you need to tailor your offering to each segment’s needs?
• Does each market segment satisfy the fundamental criteria for market segments of “identifiability, accessibility, stability, and sufficiency”?
• Does the pursuit of a specific market segment have an impact on some or all aspects of the organisation and have these impacts been accommodated in planning, resourcing, and costing?

If the pursuit of your market segments isn’t as clear or as fact-based as it needs to be – then management is harder because of it – and your organisation’s results are probably compromised.

Do you want to know more? Then read more about it from our website at 12 Pivot-Point Decision Hierarchy methodology or call us at [email protected].

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