video | July 31, 2017
Selecting the Best Markets to Compete and Win
Joining us for today’s show is Jim Briles, a Chief Executive Officer who knows how to pick the right markets to compete. Today’s topic is focused on selecting the right sales channels and exploring the economic models for partner programs. Today’s show will demonstrate how to determine which markets to compete in and which markets to avoid. We discuss market selection and the type of sales reps required to compete. Jim and I reviewed emerging best practices from SBI’s How to Make Your Number in 2018 .
Not all revenue is created equal. Hitting the quarterly EBITDA target requires a careful examination of markets. Avoid markets that are dominated by low-value transaction relationships with a low switching cost. Instead gravitate to markets that are better suited for value-based relationships with high switching costs.
Our guest today is Jim Briles, the Chief Executive Officer of American Global Logistics. AGL manages the supply chain for customers who primarily import ocean freight from Asia into the United States. Jim is the perfect guest to demonstrate how to determine which markets to compete in and which markets to avoid.
The concept of a demand driver is discussed in detail because identifying the drivers will help you select markets. This includes which markets to compete in, and which markets to avoid. Ask yourself the question, what are my demand drivers? The answer will help narrow market segments and help you choose which markets to compete. You want to compete in the markets with strong, healthy demand drivers that have a long remaining life-cycle.
At the time of the interview, Jim was the Chief Operating Officer. I would like to congradulate Jim for his elevation to CEO.
Why is this topic important? Many executive teams tend to focus most of their attention on gaining share in their existing markets. While it is necessary to maintain, and sometimes increase market share, changing your company’s exposure to growing and shrinking market segments should be a major focus. Watch as Jim demonstrates how to determine which markets to compete in and which markets to avoid.
If you prefer to listen to the interview from an audio podcast, click here.
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