EPISODE C6.002 Select Markets for Reinvention Projects

Introduction
New week, same perspective with greater conviction.

After being attentive to the weekend news about the continued arbitrary government response to COVID19, there is only one course for the business owner - ignore their word salad of concern and work around it. 

Being passive and waiting for the right decision will put you out of business. There are only two ‘people’ who have that right - you and the customer.

IBGR is committed to your success and our programming is for legal aggression (OK, I’ll make it nicer - assertiveness) to open, stay open, and be profitable.

Unlike the rest of society - we have your back.

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Show Objectives
The prework you perform now is more important than any to date. Your decisions and therefore mistakes are fatal. If you fail to focus on the right interventions or the right markets, your reinvestment in the firm could put you out of business. Take your time and get this right.

Key Issues - Owner/Facilitator Perspective:

1. Working large to small - market with greatest growth potential for reinvention,
2. Markets with greatest ability to microsegment and create monopolies,
3. List of current accounts for collaboration, 
4. Nonaccounts with potential for collaboration

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What You Need to Know
Here you need to revisit all of your marketing research conducted in Stage I when conducting due diligence. If you did the research by buying articles, it might be time to subscribe to create an ongoing Market Intel function run our of the Executives office. If you are at Stage VI - this is why you're being paid the big bucks.

You should be Monitoring the following information to understand how it will affect customer's buying decisions and competitor response::

• Regulatory changes, this includes taxes, in the areas you operate, sell to, or intend to enter;
• Economic trends in the areas you operate, sell to, or intend to enter;
• Scientific/Technical advances that affects your industry and customers; and
• Zeitgeist trends that affect how the herd and contrarians are going to respond.

What You Need to Do

1. Working large to small - which markets do you currently service with greatest growth potential for the reinvention offer?
2. Working large to small - which markets do you not service with greatest growth potential for the reinvention offer?
3. Which markets have the greatest potential to micro-segment and create monopolies? You are looking for natural groups (unmet or under met needs) for subdivision, and areas without significant competition.
4. List of current accounts for collaboration. Who would be interested in collaborating to help you develop X and what is in it for them?
5. Nonaccounts with potential for collaboration. Who would be interested in collaborating to help you develop X and what is in it for them?

Shows
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Next: C6.003 Select Products & Services for Reinvention Projects

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