It’s no secret that most Sydney businesses are looking to emerging markets for future growth. But there’s no longer a simple entity called ‘emerging market’. Markets are changing and a key to growth is learning how to create opportunity from those changes. In trying to transplant domestic business models, some businesses end up slashing margins or confining themselves to the higher-income segments, which aren’t big enough to generate sufficient returns. One often overlooked opportunity is using technology to ‘pivot’ and target a certain group in the huge middle market of consumers. These markets can often be tested very quickly by identifying new customer groups and tested by creating ‘smoke and mirrors’ rather than through major project undertakings. Re-positioning can be as simple as offering new features or ‘change of focus’ to an existing service/product range and for many business it can make major differences.
If you would like any advice around re-positioning through business modelling and your idea is likely to involve new software/technology, then I am always open for a coffee for you to bounce ideas off.