The strategy for achieving diversified growth focuses on expanding and strengthening portfolio holdings across micro-lending, BPO, insurance, and agribusiness sectors, with an emphasis on targeting proven business models. To kickstart this process, market research is conducted to spot successful business models, followed by scalability evaluations for different regions. This includes decision matrices and pilot projects to adapt models to regional markets. An example would be identifying a successful insurance platform in one country and examining its potential in another.
Another key strategy is cultivating strategic partnerships. This involves identifying key industry players, evaluating compatibility, and establishing joint ventures with clear terms. An advisory board and collaborative efforts in R&D help innovate offerings and learn best practices. For instance, a BPO firm could partner with a tech company to enhance service delivery.
Investing in technology-driven growth is also essential. This includes identifying technological innovations and integrating them into processes for better efficiency. By partnering with tech firms, creating sector-specific tools, and investing in training programs, companies can streamline operations and stay ahead in their sectors. For example, using AI to optimize micro-lending decisions can significantly boost operational efficiency.
The strategies
⛳️ Strategy 1: Identify and analyse proven business models
- Conduct market research to identify successful business models in target sectors
- Evaluate the scalability of identified business models in different regions
- Develop criteria for selecting partnerships or acquisitions based on proven success
- Create a pool of potential companies within the micro-lending, BPO, insurance, and agribusiness sectors
- Utilise data analytics to assess the impact of macroeconomic trends on these business models
- Consult with industry experts to validate the robustness of selected business models
- Develop a decision matrix to rank the viability of each business model
- Set up pilot projects to test the adaptability of business models in the regional market
- Review past case studies of similar business expansions for insights
- Align selected business models with company’s long-term growth objectives
⛳️ Strategy 2: Cultivate strategic partnerships
- Identify key industry players and establish introductory meetings
- Evaluate the compatibility of potential partners' business models with company growth strategies
- Negotiate joint ventures or strategic alliances with robust terms and conditions
- Create an advisory board involving partners from micro-lending, BPO, insurance, and agribusiness
- Engage in knowledge exchange programs to learn best practices from partners
- Collaborate on research and development initiatives to innovate current offerings
- Monitor partnership performance through regular progress reviews and KPIs
- Leverage partner networks to access new customers and markets
- Develop team-building initiatives to foster a collaborative culture with partners
- Plan joint marketing campaigns to amplify brand presence in target sectors
⛳️ Strategy 3: Invest in technology-driven growth
- Identify technological innovations that can enhance operations in target sectors
- Develop a roadmap for integrating technology in existing processes for efficiency
- Form a dedicated team to oversee the implementation of digital solutions
- Partner with tech firms to co-create tools that address sector-specific challenges
- Utilise automation to streamline business processes and reduce operational costs
- Invest in training programs to enhance digital skills within the workforce
- Implement data analytics tools to drive data-driven decisions
- Conduct regular technology audits to ensure systems' relevance and performance
- Explore blockchain and AI applications for enhancing transparency and productivity
- Ensure adherence to data protection and cybersecurity standards
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
