XL8.1 … Abdi Ibrahim Growth Accelerator
January 21, 2022 at Abdi Ibrahim, Istanbul, Turkey
Where are the best opportunities to grow further and faster?
XL8 is a growth accelerator working with commercial teams to engage with markets in new ways, drive innovation in sales and marketing approaches, and unlock opportunities to accelerate revenue streams, and unlock new opportunities.
Finding growth means opening your eyes to new possibilities – to the fast growth markets of Asia, Africa and South America, or to the new consumers, such as women, millennials and boomers. It means redefining purpose in a way that is relevant, refocusing strategy on markets, and particular the new profit pools, and innovating business models and customer experiences for growth. It also means ensuring that growth is profitable – it is easy to be big, but to create profits, and sustained value, is much harder.
What are the growth engines of business today?
- Markets – finding the best spaces for growth in existing and new markets, for example in new geographies, in niche segments, in adjacent markets, or elsewhere – in the past we assuming that we continue to focus on the same domains, today growth starts with choice of markets.
- Customers – redefining your business around what customers seek to achieve, rather than what you do, gives you huge space to meet their needs better through more joined-up and relevant solutions – enabling them to achieve more, and you to create and capture more value.
- Brands – using your most powerful assets to do more, extending into new markets and categories, through the lens of brands, extensions and innovation. This requires a brand that is about a bigger idea rather than limit to one product and activity.
- Networks – forget the old thinking about core capabilities where you had to produce and distribution everything, find the best opportunities and ideas, then bring together the right partners to exploit it. Networks have an exponential effect, on supply and demand.
- Business models – rethinking the way your business works, in particular the different revenues and cost streams. Consider alternative business models, such as freemium, subscription or time-based – both to generate income, but also to engage customers in more distinctive ways.
What is the growth accelerator?