Nothing is more important to a business, especially an emerging growth company, than customer focus. Sales growth depends on knowing and understanding your customers. As companies grow to the point that they enter NO MAN'S LAND, the stage where they are too big to be small and too small to be big, they tend to lose intimate contact with customers that they once had. The value proposition that motivated customers to buy the company’s goods and services place gets murky.
Focusing on the customer value chain in No Man's Land is essential. You need to step back and 
consider the forces that come into play surrounding each sale to a customer.
To survive No Man’s Land, an emerging growth company must focus on selected key customers and devise business plans and actions tailored to their needs. This requires a thorough review of these customers, including their short and long-term requirements. The following sets the context for an intense focus on your customers.
How to Select Key Customers
The goal is to select key accounts /named customers in your target market to become your long-term partners. You will provide added value to these key customers by understanding their value chain and aspirations in order to offer them the best solutions.
The questions below constitute an initial questionnaire for those in your company who sell to and support customers. Emphasize that the questionnaire will help them identify key customers to focus on.
The Customer and Their Organization
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Who is the customer?
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Do we understand the customer’s internal dynamics ?
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Who are the decision makers, the influencers and how much access do we have to them?
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Do we know their problems, organizational constraints, procurement model?
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Are they geographically accessible; can we service the customer?
The Customer’s Strategy
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What are the customer’s short and long-term opportunities?
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Do these opportunities already exist for the customer or does the customer need to develop them?
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Can we quantify/qualify these opportunities?
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What are the customer’s critical business issues or events—i.e. what’s driving this opportunity?
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What external influences are they subject to?
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How can we assist and guide them as they grapple with these external factors?
Competitive Issues
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Where do we stand with them relative to competitors?
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What existing products do their competitors offer?
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If they buy from competitors can we leverage or interface with the competitors’ products?
How Well the Customer Aligns with Us
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Is the customer in our chosen market segment?
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Do the customer’s needs match our product or is development and/or customization needed at our end?
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If it’s an existing customer, do we want them evolve in a direction where we can better serve them?
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What will support or hinder developing future business with them?
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Are we presently discussing future opportunities to serve them better?
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If so, have they been responsive about interacting with us?
Next Steps
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How can we leverage our experience and relationships to assist the customer?
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Is there, or could there be a budget or funding for a higher level of expenditure with us?
The Big Questions
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Can we bring unique business value to the customer?
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What differentiates them from other customers?
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Are they a “best fit” customer for us?
If you use these questions, then act on the answers, you will be better equipped to select the best-qualified customers to focus your efforts. You will be able to prioritize your growth efforts and create the most compelling value proposition for these key customers.
Get your entire company involved in focusing on key customers’ needs. This is an essential strategy to get across No Man’s Land and achieve sustained growth and reach your company’s take-off point.
Click on Keith's picture for his bio
Keith.Stentiford@newportboardgroup.com
image credit: Seronic Services
