CorporateViews - Entrepreneurship

As Globalisation becomes the unstoppable trend of the present day
economy, it is essential for companies to develop a scalable business so as
to compete and survive in the current increasingly competitive marketplace.

Building a scalable business

Product / Service Expansion

Generally, startups begin its history by launching a single product/service on
their inception (unless they are bankrolled by a rich sugar Daddy/Mummy).

Hence, to ensure the continuity of the business on the back of a successful
initial product/service launch, it is important for the startup to plan for a
comprehensive product/service lineup.

In the meantime, the technology roadmap of the company should also be
established so as to allow continuous improvisation of the company's
products/services.

By doing these, the company should be able to keep itself ahead of the
competition.

Geographical Expansion

To maximise revenue and profits, it is inevitable for companies to seek
expansion into overseas markets as it aims to diversify its revenue sources.

So, which markets should you start first?

One effective method which can be used to identify a suitable market for
expansion is the Bowling Pin Strategy (introduced by Geoffrey A. Moore in
his book "Crossing the Chasm"). By introducing products/services based on
adjacent market niches and consumer references, we will be able to conduct
a systematic expansion of market leadership in our targeted markets both
locally and overseas.