Blue Rock Capital
Obviously, a paper of this
size makes no claim at being a comprehensive examination of the
issues. Rather, it is intended to get you thinking about
your own situation and to guide you to the next steps that may
Here is a
activity that isn't targeted is likely to be wasted.
of the three functions deserves to have its own activity
budget and a specific dollar budget.
function should be measured on a current ongoing basis (as
well as annually) in order to compare budgeted amounts
versus actual amounts versus effectiveness.
each function, changes in strategy (the big concepts) and in
tactics (the implementation) should be based on what the
market is teaching and not primarily on opportunities that
just "pop up."
other hand, opportunities that just pop up are not to be
ignored – if they fit.
are no guarantees that your in-place
selling programs will work. (Before getting
discouraged, bear in mind that this same rule applies
equally to your competition.)
you are convinced that your market opportunity is bona fide
and that your product or service offering is competitively
attractive in that market, plan and run these three
processes to find situations where the product or service
offering from your company "fits" with specific real
customer prospects in your targeted market. Since you
can't know in advance where the right fit will be, in most
cases the right strategy is always to be expanding your
contact with the marketplace. And to "stick with it."
Slow and steady ongoing activity is the key. Crash
campaigns, on-again/off-again efforts, and crisis programs
are generally not very helpful.
TERRY COLLISON is a co-founder of
BLUE ROCK CAPITAL. Previously, through 11 years of work as an advisor to
entrepreneurs, young companies, and investors, Terry helped a wide
variety of companies develop commercialization strategies, management
teams, marketing programs, formal business plans, and new financing.
BLUE ROCK CAPITAL
makes venture capital investments in high-growth seed-stage and early-stage
companies from New England to the Carolinas.