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    « Why Outsourcing is Good | Main | Are Relationships a Competitive Advantage? »

    May 18, 2006

    Which Opportunities to Pursue?

    Stoplight Several people at the IRgA show asked “with all of these opportunities presented to us” where should we start. That is an excellent question. Even though there are non-traditional opportunities you can’t wake up tomorrow and ignore your core business. Most of your revenue and profit is derived from printing project-critical construction documents. Even if you decided to pursue these opportunities, you may not have the internal core competencies necessary to deliver these products or services. I was exposed to an interesting tool in a marketing class I took. It is called the stoplight model.   I believe that General Electric used this tool to determine which new businesses opportunities they would pursue and which they would decline. The model has two factors “market presence” and “core competency”. Are you currently in the market segments where this opportunity could be marketed? Do you have the internal knowledge and skills necessary to credibly bring this product to market and support it?

    For example, if you do not have the core competency to outsource reprographics equipment (FM’s), then you should not be exploring outsourcing video conferencing or CAVE’s. If your market niche is contractors and very few of your customers are architects then delivering CAVE’s would be a difficult endeavor. 

    The stoplight model can help an organization more quickly determine whether they should quickly adopt an opportunity, stop spending time on it, or further explore that opportunity.

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