No growth is negative growth.

Why?

Because stagnation occurs when companies fail to adapt to competitive forces.

Smart executives are constantly reinventing themselves to capture an unfair share of channel attention and key strategic relationships.

So, how do ensure your business is growing?

By focusing on what experts call downstream development: consumer-focused growth models aimed at increasing your company’s reach, products, and ultimately sales.

Strategic downstream development essentially follows five paths:

1. Entering New Markets
2. Up Selling Your Current Customers
3. Expanding Your Distribution Channels
4. Creating Complementary Products
5. Licensing Your Products and Services

[This is only the outline for the article. Please check again for the full content. We intend to publish 1 article every month.]

Resources:

HBR – Go Downstream – The New Profit Imperative
HBR – A More Rational Approach to New Product Development
HBR – Creating New Market Space

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