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Cliff Farrah. Growing the Top Line
Table of Contents
Guide
List of Illustrations
List of Tables
Pages
Praise for Growing the Top Line
Four Key Questions and the Proven Process for Scaling Your Business. GROWING THE TOP LINE
Introduction
Growth Strategy: What It Is and Why Companies Fail at It
CHAPTER 1 The Growth Matrix and the Four Key Questions
Customers
All Money Comes from Your Customers
All Customers Are Not Equal
Customers Buy Differently
Goods and Services
Some Goods and Services Fill a Market Need: Many Fill a Want
Goods and Services Are Definable, Measurable Offerings
They Are Things That Can Be Valued
The Revenue Matrix
Defend and Grow
Quadrant 1: Discount/Commoditize
Quadrant 2: Develop New Products
Attack and Grow
Quadrant 3: Innovate
Quadrant 4: Grow Customer Base
The Four Key Questions: Customers
CHAPTER 2 Which CUSTOMERS Will I Serve?
CHAPTER 3 Which GEOGRAPHIES AND LOCATIONS Will I Serve?
Notes
CHAPTER 4 What GOODS AND SERVICES Will I Sell?
Note
CHAPTER 5 What BUSINESS MODEL Will I Use?
CHAPTER 6 The Growth Framework: The 16 Ways a Company Can Grow
Growth Pathways Defined
Defend and Grow Pathways
Pathway 16: Milking the Cow
Pathway 15: Offer New Acquisition Models
Pathway 14: Existing Customer Product Migration
Pathway 13: Transformational Innovation
Pathway 12: Classic Geographic Expansion
Pathway 11: Align with Regional Contracting Practices
Pathway 10: Regionally Focused New Product Development
Pathway 9: Disruptive Innovation
Attack and Grow
Pathway 8: Classic New Account Addition
Pathway 7: Introduction of Disruptive Business Model
Pathway 6: Classic Growth via Product/Service Improvement
Pathway 5: Innovation Share Grab
Pathway 4: Geographic Expansion
Pathway 3: Test Bed for Disruption
Pathway 2: Offensive Market Disruption
Pathway 1: Pure Innovation Test Bed
Some Examples to Consider
Notes
CHAPTER 7 The Process Overview: How to Build a Growth Strategy
CHAPTER 8 Creating the Team
The Three Critical Groups
The Thinkers
The Doers
Human Resources
Research and Development (R&D)
Operations
Sales
The Vetoers
PRO TIP
Finance
Legal
On Trusting Your Gut
Necessary Grit
CHAPTER 9 Defining Business Objectives: Step 1: Targeting the Hill We Need to Take
Financial Objectives
Timing Objectives
Value Rules of Engagement
Strategic Objectives
CHAPTER 10 Internal Assessment: Step 2: Understanding the Force and Resourcing We Bring to the Fight
Who You Are
PRO TIP
What Are Your Corporate Values?
Can You Pursue Inorganic Growth?
How Flexible Is Your Business Model?
PRO TIP
CHAPTER 11 External Assessment: Step 3: Understanding the Terrain We Will Fight On and the Foes We Will Face
Political Factors
Economic Factors
Customer Analysis
Customer Acquisition Models – or How Clients Buy
Customer Current and Future Requirements
PRO TIP
On Customers and Products That Never Existed Before
Competitor Assessment
CHAPTER 12 Select Growth Pathways: Step 4: Decide Which Route to Take
Step 1: Pre‐distribute the Four Key Questions Worksheet
Step 2: Bottom‐Up Growth Framework Drill
Step 3: Share the Results
How Do I Define “New”?
If I’m Starting a New Company, Wouldn’t Everything Be “New” and Go through Pathway 1?
If We Are Planning over a 5‐Year Period, Would Something “New” We Do in Year 1 Become Existing in Year 2?
Is There a Way to Assign Different “New” versus “Existing” Weightings by Branch in the Decision Tree?
Principles of Use
CHAPTER 13 Select Strategies: Step 5: Plan the Battle on Each Route
Strategy Development Classics to Consider
Pricing Strategy
Build or Buy: Organic versus Inorganic Growth
Product Strategy: Sizzle versus Steak
Lead versus Follow
Channel Strategy: Direct versus Indirect
Product Portfolio: Focus versus Expansion
Leverage Existing or Hire
Train Existing or Hire
CHAPTER 14 Model Returns: Step 6: Assess the Outcome
Model Revenues
Joe’s Coffee
Model Direct Costs
The Power of Tactics
People
NRE (Nonrecurring Expense)
Advertising Spend
Marketing Spend
Manufacturing/Operations
Pathway 6: Classic Growth via Product/Service Improvement
Pathway 8: Classic New Account Addition
Pathway 14: Existing Customer Product Migration
Pathway 16: Milking the Cow
Pathway 6: Classic Growth via Product/Service Improvement
Assessing the Outcome
Iterative Loop
CHAPTER 15 Map Strategy to a Timeline: Step 7: The Power of a Picture
Harmonograms
Overloading the System
Underestimation of Dependency Time Demands
Disruption of Existing Initiatives
Hiring Needs
Flawed Financial Modeling
Once You Complete This Step, You Have Finished!
CHAPTER 16 Navigating in a Storm: Growth in a COVID World
Your Existing Assumptions Are Likely Wrong
You Probably Don’t Know How to Talk to Your Customer Anymore
PRO TIP
Supply Chains Are Suffering
It’s a Buyers’ Market
Revenue Opportunity Will Align with Government Investment
Successful Growth Becomes a Relative Metric
Work from Home
Educate from Home
Remote Healthcare
The New New of Food Service
Planning for the Recovery
Follow the Money
Lower Overhead
Increase Sales Effort
Lower Price to Win Business
Be Responsive, Not Panicked
Bottom‐Up Assessments = Tactical Health
Assess Org Structure and Staffing Levels
Target Competitors for Share Grab
Maintain Focus and Morale
Go Where Others Aren’t
Understand the Market
Take Calculated Risks
Applying These Rules with the Framework
Notes
Conclusion
Acknowledgments
Index
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