A Powerful, Visual Business Development Strategy: Explore Adjacencies

One of the key strategies for innovation and business development today is to look beyond your core business for adjacent markets, technologies or areas of focus where you can expand. Tools like mind mapping and business diagramming can help you to visualize them and make better informed decisions about which opportunities to pursue.

Whether you’re a blogger, consultant, accountant or manufacturer, the same principles apply: take off your blinders and look at the “bigger frame” that surrounds your business. What else should he be exploring? As you explore these potential opportunities, you may uncover connections and synergies that you didn’t even realize existed that could add significant value to your business.

This article explains how to create a simple diagram that will help you to map out your core business and potential adjacencies, and how to add meaning and context to it using a combination of color, shape and size of diagram elements.

The key is to clearly visualize what your core business is and then thoughtfully – and visually – consider what business you’re REALLY in – the larger context within which you could potentially do business. This could be framed by a broader understanding of your customers’ total needs or perhaps in anticipation of what people may want, even if they don’t know what that is.

Read full article » mindmappingsoftwareblog.com/business…

 

Image: Hand Holding Globe from Shutterstock.com

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