Expanding Your IT Services Business into New Markets
Shoot the Moon with Revenue Rocket
English - September 30, 2019 19:07 - 6 minutes - 6.24 MB - ★★★★★ - 6 ratingsManagement Business Entrepreneurship business growth selling your business m&a process growth strategy it services m&a managed service providers cybersecurity cloud services custom application Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
It is a competitive landscape out there in the world of IT Services. Listen to Mike’s experiences and insights into the market(s) you are in or should be in.
Mike's Thoughts:
The goal: Be number 1 or number 2 in the market you’re in. Be the expert!
Align your go-to-market strategy, your marketing, and your sales. Focus on driving efficiency in your business by effectively marketing in a few markets, sometimes just one. We find that firms who do this have very little competition in the market place.
What about geography? We find that our clients who expand their addressable market AND specialize in their offering can really make a difference. Physical office space has become less and less important as a company’s ability to operate virtually in a meaningful way can become the secret sauce for success.
HOW TO GET STARTED ON EXPANDING INTO NEW MARKETS
Analyze your customer base - see where you are already concentratedDo your market research - Research each market you are interested inLook at a market based on opportunity - not because it sounds exciting and “fresh”
If you’re going to invest in growth, those that verticalize outgrow and create much more profit than those who don’t. Feel free to reach out to us anytime for insights and expertise into growth strategy: [email protected].
Listen to Shoot the Moon on Apple Podcasts or Spotify.
Buy, sell, or grow your tech-enabled services firm with Revenue Rocket.