Changing from an opportunistic to a proactive business development model has a lot of the same troubles as redefining the target demographic.
(third of a three-part series exploring the “new” TARGIT)
My plan for revitalizing TARGIT’s philosophy has been broken down into three main parts:
- Narrow down the market segmentation
- Adjust entrepreneurial approach to proactive business development
- Recalibrate our mindset to accommodate new opportunities
What each of these concepts has in common is a need for some serious courage to implement. You can have all the knowledge in the world, and be able to make all of the right decisions, but if you don’t have the courage to do anything about it, you won’t get anywhere.
Redefining our target market feels good to start. It seems as though you’re making big progress in fixing any problems within your business, you meet happy customers in the sweet spot of your value-prop; everything’s going swimmingly. And then you have to say “no” to somebody who’s not in your target group anymore.
That takes a lot of courage, since there may not be enough customers to scale up your business.
It takes time to change a culture. We’ve been around for many years, we have customers all over the planet, but we still have to dig deep to find the courage to say no when a deal would be a bad idea. It’s hard not to dream about the potential in each prospect in front of you, and it’s harder to see the long-term value in the strategic “no”.
Changing from an opportunistic to a proactive business development model has a lot of the same troubles as redefining the target demographic. It’s all about abandoning the short-term small wins in favor of the long-term big wins. It sounds great in the abstract, but actually doing it takes a lot of effort and a lot of courage.
We are all entrepreneurs in our hearts, and we tend to see formalized processes and planning as roadblocks to agility, not drivers of innovation. But if we handle them the right way, we can draw a lot of power from these routines and release more brainpower to solving the market’s problems.
Read the first part of the three-part blog post
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