When everyone is working pedal to the metal on today’s business, the operative question is “who’s working on tomorrow’s?” All too frequently, there isn’t enough focus on “What’s Next?” Businesses are structured to run the day-to-day business and the people focused on the day-to-day business are compensated to make sure things run right.
Whether you work in a large or small company, the “What’s Next?” conundrum confronts most business owners. Who has the time to focus on adjacent market opportunities? Will products for those segments really be a better bet than the core portfolio?
“What’s Next?” Adjacent products and services come as an extension of the collection of existing capabilities and competencies from “what you do today.” By looking for opportunities to create value in accessible markets where your growth investment pays off, you can leverage capabilities and more importantly, extend competencies to new opportunities, thus increasing your return on growth investment.
So “What’s Next?” for your company when growth opportunities are limited in the core business? I would argue that adjacent market opportunities await!