Monday, May 2, 2011

Small Business Growth - "One Size Does Not Fit All"

Small businesses that strive to grow put their very survival at risk. Bain.com's recommended reading list for business strategy includes at least one book that addresses this difficult topic. How the recommendations apply to small business needs to be carefully considered. "One size does not fit 'small.'"


From Bain.com

Beyond the Core: Expand Your Market Without Abandoning Your Roots
Harvard Business School Publishing 

All companies must grow to survive--but only one in five growth strategies succeeds. In Profit from the Core, strategy expert Chris Zook revealed how to grow profitably by focusing on and achieving full potential in the core business. But what happens when your core business provides insufficient new growth or even hits the wall? In Beyond the Core, Zook outlines an expansion strategy based on putting together combinations of adjacency moves into areas away from, but related to, the core business, such as new product lines or new channels of distribution. These sequences of moves carry less risk than diversification, yet they can create enormous competitive advantage, because they stem directly from what the company already knows and does best.  For more information, please visit www.beyondthecore.com.



Source for book description: Bain.com