The book review for this week is Growth IQ by Tiffani Bova.
Bova has written a powerful book that describes the optimal paths to business growth in today’s marketplace. She backs up her theories with excellent case studies using relevant businesses and their current levels of success and/or failure.
My takeaways from this book are the ten paths to business growth shown in the list and diagram below and the knowledge that most of these paths are not stand alone. Most business growth comes from applying a number of these paths in a strategically informed sequence. In fact, context, combination, and sequence can be the key to success!
- Customer Experience – This is the base for all business growth. The customer experience will make or break a business. All businesses need to inspire additional purchases and customer advocacy in the marketplace!
- Customer Base Penetration – This is basically selling more of your existing products to existing customers.
- Market Acceleration – Expansion into new markets with existing products.
- Product Expansion – Create and sell new products into your existing markets.
- Customer/Product Diversification – Creating and selling new products into new markets.
- Optimize Sales – Streamline sales efforts to increase productivity of existing sales channels.
- Churn (Minimize customer loss) – Retention of existing customer base.
- Partnerships – Leverage third-party alliances, channels, and ecosystems to expand your business.
- Coopetition – Cooperate with a market or industry competitor to sell a new product or reach a new market.
- Unconventional Strategies – Disruption of current thinking
Note that I have previously reviewed the following books in 2018:
- Tim O’Reilly’s Whats the Future and Why Its Up to Us
- Steven Pressfield’s The War of Art
- Timothy Ferriss’ Tribe of Mentors
- Richard P. Feynman’s Surely You’re Joking Mr. Feynman!
- Bernadette Jiwa’s Hunch
- Scott Galloway’s The Four
- William Mougayar’s The Business Blockchain
- Fredrik Haren’s The Idea Book
- David Burkus’ Friend of a Friend
- Stay on Top of Your Work podcast episode #15
- Blue Ocean Shift by W. Chan Kim and Renee Mauborgne
- Ideas and Stuff Podcast episode #50
- Tom Peter’s The Excellence Dividend
- Travis Christofferson’s Tripping Over the Truth
- Michael Zipursky’s The Elite Consulting Mind
- Mike Michalowicz’s Profit First
- Vanessa Van Edwards’ Captivate
- Seth Godin’s Linchpin
- Pat Flynn’s Will it Fly?
- Andrew McAfee’s and Erik Brynjolfsson’s The Second Machine Age
- Allan Dib’s The 1-Page Marketing Plan
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