Take advantage of the growth stage of technology to obtain superior results year over year.
Have losses been racking up for several years? Are investors looking for new management? Do competitors obsolete your products too quickly? Does technology change before your products get a toe hold in the market?
New product sales repeatedly follow an S-Curve. Innovators buy in the early stages, but sales are slow to build. Then the product and technology catch on and a strong growth stage is entered. Eventually, sales level off and it gets harder and harder to grow sales. The key is to invest in a new product or technology while in the growth stage of a previous product. Sales of the new product begin to enter the growth stage when the old product is in the mature stage.
Choosing the winning technology for tomorrow takes anticipation of customer needs and engineering assessment of existing and new technologies. Business Accelerants keeps an eye on research at Universities, start-up companies, and patents. By attending important events, studying literature, networking and applying tools like Quality Function Deployment with its Voice of the Customer, we can help guide the selection of technology and features that will provide value to your customers.
- Invest at the right time
- Avoid diminishing returns
- Capture intellectual property rights