Early Stage Strategy: Entrepreneurs and
Companies Exploring the Feasibility of New Ventures
Growthink works as a partner with Companies to develop a strategic road map to launch or grow their businesses. Many times, a client has a potential game-changing concept and needs to answer the question, “Why has this idea not been done before?” Many others have operated their businesses without a plan and need to work through a rigorous process to crystallize their vision, strengthen their weaknesses, and/or rally their team around a clear course of action.
In strategic business planning engagements of this type:
- Growthink takes the role of facilitator in asking the right questions, prompting our clients to think about their businesses in ways previously unexamined. Questions may be as simple as, “Where do we want our company to be in 3 years and in 5 years?”, “Who would the likely buyer of our business be and what would be attractive to them?”, and “What is really important to our customers and why do/will they buy from us (or prevent them from buying).” These questions typically prompt discussions that lead to profound, actionable insights.
- The goal of the plan is not to have a document that will be filed away to collect dust. Rather, the goal of the plan is to develop a concrete action plan with specific short, medium, and long term milestones, responsibilities assigned to appropriate management team members, dates for completion established, and expected results (operational and financial) clearly forecasted.
- In this process, we attempt to “reverse engineer success.” This is done by understanding where a client wants to be, and then methodically working backwards to the present day, thoroughly exploring future challenges or barriers, and documenting what will need to happen to achieve the stated goals.
The strategic road map takes into account all areas of the business: product / service development, R&D technology development, sales and marketing, team and staffing needs, accounting and financial controls, and operations. Within each engagement, based on individual client needs, specific areas are given greater attention than others, though all engagements explore each area described above.
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Fathead is the leading brand in sports and entertainment wall graphics with hundreds of officially licensed products. The Company’s product line-up includes Fathead Tradeables, Fathead Jr., Fathead Skins, Furniture for Fans and of course our “Real.Big®” Fathead, the officially licensed, life-size, hi-def wall graphics of professional athletes, animated heroes, entertainment characters, team helmets and logos. Growthink was engaged to analyze trends within the market and create the Company’s strategic business plan. Since working with Growthink, Fathead was acquired by a leading conglomerate of sports and entertainment properties.
Neezz.com is a Kuala Lumpur-based social networking business owned by French digital media company Number 10. Neezz is the world's first real-time social network-based online classified advertising and purchasing platform. During its U.S. pre-launch phase, Neezz sought Growthink's expertise in digital media monetization in order to refine its business model, user acquisition/retention, and financing strategies. In two months of working with its Growthink team, Neezz reformulated its U.S. entry strategy, created and articulated a product development plan, and documented it in an investor-ready package. Neezz is currently in beta with over 200,000 active ads.
Safari Air is the world’s first carbon-neutral, luxury charter jet service offering flights on a per seat basis. The Company is based in Orange County, California (John Wayne Airport) and offers flight service to destinations such as New York City, Hawaii, and several locations throughout Mexico. Growthink was retained to determine the overall feasibility of the venture by assessing market demand, developing routes which maximize aircraft utilization, and building detailed financial projections, Growthink then developed the Company’s business plan, marketing plan, and financial strategy. Safari Air is poised to take flight in late 2010.
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