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Making the Transition from Technology Innovator to Successful Business
Stage 4 Solutions In Action
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Making the Transition from Technology Innovator to Successful Business
As it's been said, "Before you build a better mousetrap, it helps to know
if there are any mice out there." It is also important to know all about those mice and what they need.
High tech companies are much like mousetrap companies. A solid business strategy turns technological
strengths into company success.
Finding Focus
A common strength among businesses is that they know of many potential
customers who could use their technology for many purposes, as long as they can fully address details needed
specifically for each of those purposes. However, companies often don't have the time, money, or
resources to step back and decide, out of the plethora of choices, on which market segments, and
on which purposes to focus.
It is mandatory to make those decisions and focus in on a business strategy.
By creating a strategy, the organization can successfully meet the needs of a defined set of buyers.
Stage 4 Solutions has created a five step strategy development process that organizations can use
to ensure market success.
A Complete Strategy: Value, Product, Customer, Competition, Channels
The final product of Stage 4 Solutions' five steps is a strategic, actionable
plan for the chosen options. The plan includes value proposition, product features, target markets,
detailed buyer profiles, competitive analysis, pricing, and sales channel.
The vast majority of companies have a sense of what options they can pursue.
The next step is to refine those options to identify which to pursue for the greatest business success.
Before the evaluation process, it is important to determine the right criteria for making any decisions.
For example, decisions might be based on level of customer pain, whether the customers have a budget
in place, market size, and immediacy of the customer's needs. Then, the process provides a funnel,
ruling some options out and highlighting others.
Steps are listed below:
- Identify strategy options
- Define target market characteristics & competition
- Investigate/research target markets & competition
- Interview customers in the target
- Develop strategy recommendation
With the research and analysis provided in each subsequent the
step, the optimal choices become increasingly clear.
Results: A Strategic Plan of Action and an Accelerated Sales Cycle
By leveraging what is already known, Stage 4 Solutions' process does not
need to be expensive or time consuming. And, the process necessitates early relationships with
potential customers in a comfortable, low-pressure setting, which can accelerate the sales cycle
once the selected strategy is complete. It is imperative for a new business to complete this
important planning, whether they work with Stage 4 Solutions or do the work internally.
Stage 4 Solutions brings focused, experienced bandwidth and objective reasoning
to strategy analysis. We execute the five strategy development steps very efficiently because of our
depth of experience and access to valuable market information and potential customers for in depth
interviews. We work hand in hand with our clients, so that there are no surprises when the strategy
is complete, but rather the client has a working plan that they can immediately put into action.
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Watch for Stage 4 Solutions on a speaker circuit near you. Company Principal &
Founder, Niti Agrawal, spoke about "Five Step Strategy Development" on March 14, at the Software
Developers Forum, Marketing SIG, in Palo Alto, California.
Click here to request a copy of the slides from that presentation.
After 3 years in business and consistently experiencing double-digit annual growth, we have
incorporated Stage 4 Solutions. This incorporation establishes the foundation for continued
expansion. We owe this success to attaining our goal of 100% client referenceability, We would
like to thank all the clients we have served in the past and will continue to serve in the future.
Niti Agrawal, Principal & Founder
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