A constant focus on Revenue Growth is key. Whether your business is in a new growth area or in a more traditional sector you must be out performing the market sector, especially in uncertain economic times.
Today, as it always has been, it is essential to look at the basics; Solid strategy, Professional Marketing and PR, Sales and Management training (TAS, Strategic Selling, etc), Good smooth business processes (BPM, eTOM, Service Centric IT, Olly White, etc) and fostering an innovation culture in all departments.
However those foundations may not be enough. With the increased pace of technology use with Internal business systems, Internet, Consumer "Apps", location based IT services and general business Globalisation, whole new business models need to be considered and implemented.
- New business area creation, if you have time and capital (Build)
- New online offering to parallel or replace your traditional channels to market (Build)
- Acquisition strategy, if you don't have time or there is Intellectual Capital in a complementary business, competitor or new geographic location (Buy)
- Alliances and Partnerships. These can be overlooked but can deliver major short term revenue growth with minimal cashflow commitments (Partner)