Small to medium - Expand

You have established some key customers and a strong presence in your target market segment. Your product is robust in this segment and your market share can be attributed to the suitability of your solution, the support you’ve provided and the strong reputation you’ve built. You have developed a strong road map to stay ahead of your competitors in this segment and to help you expand into new market segments.

Your priorities are changing and your strategic plan needs to adapt to reflect this.

• You have changed the strategic direction of your company to protect your current market share and expand into new markets.
• You have identified a new market that is a manageable leap in application and size from your current market.
• You aim to establish a presence in other regions and are building sales channels that have a complimentary line card and are strong players in your market segments.
• You have changed the strategic direction of your company to focus on building your customer-base, revenue and profit.
• Your teams are growing and all understand how their roles contribute to the company vision.

Do you have a strategy plan in place and the leadership in your teams to make the challenging leap to the next major growth stage?

If you're not sure then download either the Strategic Planning Health Check Lite or the Strategic Planning Health Check Pro to know for sure and find out the potential threats to achieving this growth.

Below are a examples of the challenges that SMEs face which may resonate with you.

Is this you?

The Technology Product SME

You are the CEO or Managing Director of a UK technology SME and over the last five years you’ve grown well in your chosen market segment. Your success has undoubtedly been down to the technology that you and your team created the company around but growth has slowed in the last 12 months which you can only partially blame on the economic climate.

• What are your plans for at least maintaining your market share and your key customers?
• Do you need new products?
• Are there efficiencies you could implement to reduce cost and increase profit?
• Are there new markets that you could enter and what would it take?
• Do you have the resources and capabilities in your team to drive the company forward?
• Are your people, partners and other stakeholders aligned to your goals?
• ...

The CEM

You are the CEO or Managing Director of a contract manufacturer. You do subcontract manufacturing and hardware and software development. Your business is building again as your clients start to develop products once more.

You need to find a way to win a bigger share of available customer value, make the manufacturing business more regular and less ad-hoc and you need to innovate and offer differentiating services.

• Do you take time out with your directors and managers for a spot of creative thinking?
• Do you engage with your key clients to see if their production requirements can be planned more efficiently?
• Do your value propositions clearly highlight the benefits you offer?
• Have you identified the risks to your business and created mitigating plans?
• ...

There is much to do and you're busy working hard but you're concerned with what you're actually achieving and you need to be back on the bridge of your ship rather than working in it.

The Small software company

You are the CEO of a young software company which has grown well over recent years and you feel the time is right to expand your reach from the Uk into Europe.

• Who are the key customers and what do they need?
• Do you have the right product mix?
• Do you need to change your key messages to suit a European audience?
• How will you provide support?
• Do you need a sales channel and if so what are the choices and who would be most suitable to engage with?
• Do you need to build partnership with other European companies to provide a complete solution?
• Who will represent the company from Europe? Is it too early to hire?
• Have your competitors already begun this process?
• ...

Your company needs to expand to succeed. You need to set the right challenging goals and know you can meet them.

Download the Health Check Lite or the Health Check Pro to help you get this right.