How Your Business Benefits From a Growth Roadmap

A growth roadmap is a document in which you delineate your strategy for growth in a well-organized way. At RevelX, we believe in the advantages that such roadmaps bring. It worked wonders for one of our clients, the Dutch manufacturing and service providing company Stork.

At RevelX, we believe that spontaneity and creativity are key ingredients for successful businesses. At the same time, we understand that these factors have to be unlocked by using a structured approach. A growth roadmap is one of the methods we use to accomplish this. In this document, you delineate your strategy for growth in a well-organized way taking into account your goals over time. There is not one specific form of a growth roadmap, as long as you make tasks and goals transparent.

A growth roadmap has many advantages. The 3 most important reasons to deploy this method are as follows:

1. A growth roadmap helps you to organize, prioritize and delegate your tasks in an effective way.

2. As a manager, you keep tabs on everything that your team members do and why they do it, but it will also help the team members understand the importance of their tasks.

3. A growth roadmap helps you estimate how far you are on your path to more growth.

At RevelX, we deploy a growth roadmap that has its roots in the canvas methodology. Our Growth Strategy Canvas helps our clients to define the following aspects:

• Growth opportunities;
• Growth readiness;
• Growth ambition;
• Growth goals;
• Growth strategy;
• Growth execution.

This tool is very easy to use. Don’t believe me? Download our Growth Strategy Canvas here, and you will be amazed at the insights it will bring you!

Another method to build a growth roadmap is the Ansoff Matrix. This strategic planning tool provides a framework to help executives, senior managers, and marketers devise strategies for future growth.

The matrix consists of 4 quadrants, each for a strategy:

1. market penetration: quadrant “current market – current product;”
2. product development: quadrant “current market – new product;”
3. market development: quadrant “new market – current product;”
4. diversification, quadrant: “new market – new ”

I deployed the Ansoff Matrix when I advised Stork Turbo Blading, the global supplier of blades and components for virtually all gas and steam turbine applications. We started by looking at untapped potential in existing customers with existing products. Subsequently, we delivered new products to existing customers. After that, we delivered new and existing products to similar new customers in the same markets. Finally, we conquered new markets, first with existing products and then with new products.

Our innovation approach really works! And it might work for you too. Any questions? Please contact me for more information.