Roger teamed up with Michael Pritchard, CEO of 5 Circles Research, to offer insights about:
- The opportunities to open up new markets beyond existing customer base.
- Selling into a declining industry.
- How to shift to access new customers.
- Understand which emerging or untapped markets (industries or geographies) to investigate.
- How global trends (and tariff turmoil) affect future strategies.
- When it makes sense to explore markets closer to production.
They also answered questions such as “How do you go about researching new markets? Are the opportunities real and relevant to your company? And are they a fit for your company? Can your new market exploration achieve financial success, or will your expedition fail?”
Roger talked about how market viability is a good place to start, but there are also other considerations which can serve as “acid tests,” including:
- Will there be a net increase in revenue?
- Will existing business be cannibalized or the brand be diluted?
- Will the existing sales channel work?
- What will it cost to enter the new market?
- What are the new production capabilities and/or volume increase?
- Is there an additional supply chain required?
- Are there regulatory hurdles?
- What new staff is required for development?
- How will operations, administration, customer service change?
CAMPS is an association of manufacturers, supply chain partners, professional service providers and affiliates (government, education, and non-profit organizations), all who share common interests to drive innovation, provide supply chain development, and collectively find 21st Century workforce solutions. Each month CAMPS offers leadership forums on a variety of topics.
If you would like an introduction, we are a proud member and would be happy to help. Contact us here.
About Roger Johnson
Roger Johnson has more than 30 years of private and public company experience as CFO, VP of Finance, Controller, and Director of Finance and Administration. His industry background spans manufacturing, distribution, supply chain, and financial services industries. Roger has over 20 years of extensive international experience in Asia and Pacific Rim countries and was an expert Foreign Lecturer in the People’s Republic of China for the Central Institute on Finance.
Roger received his accounting degree from the University of Illinois and an MBA from Pepperdine University. He was previously a CPA.