CLIMB YOUR WAY OUT OF HELL
THE “GET OUT OF HELL” MARKET MAP: PART ONE
Is it a grid… or a map?
This is a business article. So, it has to have a grid! Cliché!
An outlier grid-map that shakes it all. Touché!
When you surround yourself with creative people, the outcome will be creative, too. This “Get out of Hell” map was designed by Arun Ramkumar of Mojo Canvas. It underlines the fact that:
We should go ahead and rip apart the normal as we plan for the new (ab)normal!
Assess where you are, with the help of the map shown above. This map is a metaphor of our business journey. It is meant to figure out where we are, our strengths, what we know and what we don’t. At any point, our business divisions or initiatives lie in one of the points shown in the map.
This map explains what we are gravitating towards, naturally. It also shows where we need to move and invest.
What should we do to safeguard what we have, and increase revenues?
Look at the map again. Consider market know-how on the Y axis and buyer familiarity on the X axis. For new buyers on one side to familiar buyers on the other of X. Knowing the market above to not knowing the market of Y.
The top right quadrant is the dream area. This is where growth entrepreneurs focus under normal circumstances; the “Cove of Comfort”. Some of us have been operating there or at least have a few new clients. The market in this quadrant is the first to freeze in any crisis. Decision-making will freeze, as will newer initiatives.
So, we move left to the next easy option. We focus on the “Retention River”, going back to buyers we know. Clients who know us and have worked with us. Back to the basics of the “Familiarity Forest”. Wooing them back. A good base to work on if you have been diligent in loving them. This is critical, as we need to go deeper in (re)building relationships with our clients. This is important to keep the cash flows running. This base is our foundation for survival.
The bottom left quadrant of the “Cluelessness Crater” is where the bulk of entrepreneurs and marketers wallow. The mass, the madding crowd. This is what I call the necessary death zone, the “Dire Straits”. The laggards’ zone. There is minimal-to-no creativity here, as it is full of copy-cats and me-toos. I wouldn’t want to be caught dead in this quadrant. Nor should you.
The bottom right quadrant is the one most of the entrepreneurs run away from. Who wants to add more ambiguity to this situation? I don’t know the market and I don’t know the buyers. Why will I enter this segment…? The fear of the unknown! Why venture into unfamiliar areas?
Nothing comes easy. If you want to survive and get by, stick to the “Buyer’s Beach” quadrant. If you want to explore, seed and succeed, go beyond the “Volatility Volcano”. Yes, some initiatives will be burned but hey, we are entrepreneurs.
Think OUTLIER.
This is the best bet for new growth. You don’t know the market or the buyer, but will invest in research. For you to find out about new needs, devise new solutions for a new market. More on this later, but for now, think about why you were hesitant to enter this quadrant.
This is part six of the series: Climb your way out of hell: Outlier Marketing to overcome worst-case scenarios and grow your business
5. WHAT ARE THE FOUR ECONOMIC RECOVERY SCENARIOS?
4. The entrepreneur’s hell: Part TWO
3. The entrepreneur’s hell: Part ONE
2. How to make a business plan in the face of the pandemic?
1. When well laid plans fail…
The full book is available on Amazon: Climb Your Way Out Of Hell
Pravin Shekar is an outlier marketer, parallel entrepreneur and a raconteur.
mic @ PravinShekar.com .
Pravin is the author of six books: Devil Does Care, Marketing lessons from Mythology, Getting paid to speak, a Virtual Summit Playbook, Climb your way out of hell & a collection of travel pics/romantic poems!
http://tiny.cc/PravinShekarBooks
#Marketing #Entrepreneur #Awareness #Strategy #Outlier #Outliermarketing #micromarketer #idea #tribe #Books #krux108
