Define Your Core
In the book 'Profit from the Core' Bain Consulting Strategy Partners Chris Zook and James Allen contend that building market power in a well-defined core remains the key source of competitive advantage and the most viable platform for successful expansion.
Their analysis showed that companies that focus on their core business grow profits and revenues faster and more reliably than those that stray from their core businesses.
Because of this we see Defining Your Core as the most crucial foundation element of Effective Growth Strategy™ .
The process of developing and defining your core is valuable, but much of the value comes from the ability to communicate it to your entire organization and ensure everyone is rowing in the same direction.
If you are using Traction, Scaling Up or something similar and have already done this - great! If not check out the Growth Strategy Playbook and the Core Strategy Canvas.
Want to learn more about the importance of your Core? Schedule a call.