Jeremy Gray - "Practical Solutions to Difficult Problems"
Show Objectives – The Why
Last week we discussed whether you should re-invigorate growth via investment in the existing business or via a pivot to new products and customers. This week we will look at how you can fine tune your strategies using the Boston Group Consulting Matrix which has stood the test of time as a proven way to review your business.
As your business grows your product or service offering will move through the product life cycle of Introduction, Growth, Maturity and Decline. The length of the life cycle could be measured in months, years or even decades depending on your industry. The strategies needed to maximize profitability will change over time. The BCG allows you to take a snapshot of where your products or services are in the product life cycle and develop appropriate strategies.
Key Issues – The Owners Perspective:
What you need to do – The How?
At IBGR we are dedicated to helping you grow your business. If you have any questions on this topic please do not hesitate to contact me at email@example.com
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