Phase 1: Markets
Understand the playing field completely.
Growing revenues faster than the industry and competitors is hard. Market intuition is not enough. Science needs to be applied to find hidden revenue growth opportunities. Deciding whether to add head count or get more out of the existing sales team requires a deep understanding as to where the growth is going to come from.
- Market segment definitions
- Market attractiveness criteria
- Market adjacency identification
- Market share
- Total available market
- Market problem analysis (frequency, pain, willingness to fix)
- Product win strategy
With market segmentation complete, the next step is Phase 2: Accounts.