You are a well established company. You have forged your links in the market.
Your company wants to create new business.
Management believes that by replicating the same model that you have always accomplished, this will enable you to successfully launch your new product.
Your business has the financial means.
You launch your product. The first figures are good: normal, you have to invest more in advertising, promotions, billboards, radios, …
After creating a buzz, the peak in turnover that you have observed will drop again 9 months, 1 year, 2 years later.
Without knowing it, you have ignored the real growth created by your product. Was this product genuinely viral? – Have you identified the right customers?
You used the variables you already knew.
Good turnover, increased cost reduction. You ignore the competition.
And yet, after 2 years, you drop the product, “not profitable” you say.
The reality is that launching a new product, a new line of business, a new brand, a new franchise, requires that you follow the methodology of customer development.
Indeed, your new project is assimilated to a startup.
And yet, the chaotic, uncertain universe of a startup is one that many multinationals want to master to enable them to create disruptive innovation.
Do you know what the business growth failure that you pass on to your children will look like? How much do you estimate the resale price of your business at?
The well-established business can be affected by the growth failure. During this crisis, the company must go back to basics. This is why DAMALION’s online entrepreneur training allows established professionals to question their business models.
Indeed, the entrepreneur follows the training by talking to a market development expert. This training helps stimulate the leader of the company. It’s about reconnecting with customers and conquering new markets. Thus, he relearns to visualize the success of his business. It redefines the priorities for the use of its cash. He can thus plan the actions to be implemented before it is too late for his business.