Four paths on the roadmap to profitable growth
John Mariotti is an experienced author and former senior executive, and is a contributor to The Brenner Brief. Twitter: @johnentgrp
John Mariotti is the author of the new book, “Roadmap to Profitable Growth.” He will be a guest on The Brenner Brief Radio Show on Feb. 25. Mariotti is the former president of Huffy Bicycles and Rubbermaid Office Products Group. This is the fourth post of a five-part series, and this posting is an excerpt from the new book.
The four paths on the roadmap lead to an intersection — one where you can find profitable growth. These paths involve the choices everyone must make, just like alternative routes on a map.
1) What is your goal, or target market, your strategic direction? How should you allocate scarce resources and very importantly (often ignored)?
2) What has worked for you in the past, and why?
3) Are there big market opportunities? What are they?
4) Can you find incremental markets where a little leverage will provide a large return?
Do not confuse the setting of goals and objectives as making strategy. It isn’t that at all. Goals and objectives tell you how well or how poorly you are doing. You achieve goals and objectives as a result of strategies and tactics that you executed well.
The ultimate goal/objective is profitable growth from gaining and sustaining competitive advantages over your competitors—and doing it in such a way that customers prefer what you offer.
Once your customer owns the decision, you own customer preference, and competitors face a big uphill battle to unseat you.
Incorporate these advantages as you develop new products or services, and you are on your way to finding profitable growth—at the Intersection of the four paths.
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[...] the tools that he has given to businesses over his 17 plus years of consulting. His latest column, Four Paths on the Roadmap to Profitable Growth, summarizes the principles that businesses can use to find and keep their competitive advantage. [...]