Mike Cameron: Understand your client base

  • Mike Cameron
  • 02 Oct 2017
Mike Cameron, Strategically Yours
Some years ago,when evaluating business growth across several regions within a number of countries, I created a simple acronym to remind myself to fully review and understand the potential client base associated with each unique location.

That acronym was SID and I’m going to explain it a little more fully in this short article:

    S  =  STRUCTURE

    I    =  ISSUES

    D  =  DRIVERS

STRUCTURE: What are the physical characteristics or boundaries of the region or area that you are evaluating?
At this stage, don’t be tempted to second guess growth capacity or potential revenue generation. Ask yourself:
  • What are the actual versus the perceived characteristics or boundaries?
  • Where is this location relative to other regions and/or areas of our business?
  • Where are the population centres and location/s of potential clients

ISSUES: What are the issues or things that influence or impact upon the way in which a market, or segment, works or operates?    For example:

  • Technological change
  • Competitive action or reaction
  • Government regulation or control
  • Growth potential and/or restrictions

DRIVERS: What are the key issues or mindsets that create their own directional activity?  For example:

  • Identifiable ‘Players’ in the market (by segment): Customers, Competitors, Key Influencers, Industry Innovators, Regulators.
  • People: What drives the key people within each of the ‘Player’ groups? Who influences your thoughts and processes?  Ego, Innovation, Technological challenges, Financial constraints.

Thanks for taking the time to read this and I’d really appreciate your feedback on the above ideas and process that I used as well as you sharing your current business growth potential evaluation model through this blog or directly with me at mike@strategically.com.au

Some food for thought.

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