When to use it
- You are thinking about the next growth step.
- You hesitate between selling more, selling elsewhere or selling something else.
- You want to compare the risk of several options.
How to do it, step by step
- Describe your current products and markets.
- Penetration: how can you sell more of the existing offer to the same market?
- Market development: which new markets for the existing offer?
- Product development: which new offers for the current market?
- Diversification: new offers for new markets, the riskiest. Compare, then choose.
Example
A project management tool for students: penetration = more universities; market development = small businesses; product development = a grading module; diversification = online training.
In FluidOps
In FluidOps' “Other tools” tab, fill in the board with your team, save it and export it as PNG or PDF.
Going further
- 5 criteria so you don't pick the wrong project management tool
- Project performance indicators: the ones that actually matter