Think Outside The Box

As I write this, a Bloomberg headline screams “Global Stocks Fall as China Moves Unnerve Markets,” which is certainly not the first bearish piece we’ve seen over the past few weeks. This challenging environment reinforces the importance of seeking new ways to grow and to enter new markets (see our recent InSights  article for some thoughts on how to tackle this).

Despite all of the doom and gloom, plenty of businesses are finding ways to grow, whether by entering new geographic markets, business segments, or even new partnerships.

• For example, Facebook is partnering with Uber through its Messaging App in an effort to compete with platforms like WeChat in China.
• Netflix is looking to Bollywood obsessed India, despite its thriving bootleg market. They aren’t the only ones to recognize that India is the next market likely to take off, particularly given the slowdown in China.
• Inc. names companies Postmate, an on-demand delivery service, and Luxe, which offers on-demand valet parking services, among those to watch in 2016 for creating unique takes on existing consumer services.
• Even well-established brands like Under Armour are launching into new market segments, trying their hand at a business that’s already well saturated.
• Irish Whiskey producers are looking at ways to address their challenges to global expansion.

Whatever your strategy or approach to growing your business this year, certainly there’s no time like the present to think outside the box. Feel free to call upon HighPoint as you consider your approach to growth—we have a long track record of success helping our clients in this area.