The journey from inspiration to growth to market leader is difficult. As the business grows it encounters a host of unfamiliar challenges: raising finances; managing risks; re-structuring; new opportunities. How these challenges are met determines whether or not the business will remain “good” or whether it truly surpasses its competition.
BROWN ADVISORS’s business migration model identifies the stages growing companies work through as they continue their journey. We then work with clients to develop and execute the strategies needed to move the business forward.
1. Emerging: An emerging company has moved beyond the start-up stage and is becoming stable. They have a product or service that has an identified market. Leaders are successfully moving the company ahead.
2. Growing: A growing company focuses energy on becoming the supplier of choice for its most valuable customers and market. The company may need capital to either expand or to innovate. The organization of the company must adapt to the growth and additional funding must be secured.
3. Leading: Market leaders concentrate on working effectively throughout its established market while expanding from its presence throughout the region and even into international markets. At this stage the business model will need to be reviewed as the company launches into its exciting period of growth.
4. Evolving: Once the leadership position has been maintained, companies will need to continue to re-assess their business model as the pursue new opportunities. Has their customers changed? Does their value-proposition continue to reach its identified market and market segment? Do they have the suppliers, support, capital and organization needed to stay competitive?
5. Transitioning: Eventually the ownership of the business will transition to others, either through a merger or sale or by transferring the business interests to others. For the Business Migration to succeed, the value of the enterprise – as determined by the owners – must be at its peak.