A valuable question for any CEO: Should you cover the entire market or double down on your sweet spot?
Should you cover the entire market or double down on your sweet spot? You’re a CEO who just missed the quarterly number for the third time in a row. You know what happens next. You are on the hook to answer to the board and shareholders. Specifically, you know they’ll question the strategic decision you made last year to focus on your market’s sweet spot. Well, why did you do it?
CEO’s routinely face the challenge of balancing short-term requirements with long-term strategic initiatives. Sometimes decisions are made based on gut, data, or a combination of both. You made this particular decision based on what you thought was good market research. You thought your sweet spot provided you with plenty of room for growth and you knew your company could deliver to this segment of the market.
COVER NEW MARKETS OR REALLOCATE RESOURCES
So, what went wrong? Well… it depends.
This story is from the April - June 2018 edition of thinksales.
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This story is from the April - June 2018 edition of thinksales.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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