One of the surest routes to business success is to capture a new market, but this can be fiendishly difficult to accomplish. A big challenge is that the principles for success in these markets can be completely distinct from those that are taught in business schools, which tend to focus on markets that already exist. In a slide presentation for the website Change This (part of the leading online business bookseller 800 CEO READ), I've extracted ten principles from my book Capturing New Markets that describe many of the success factors needed. Download the presentation here.
Stephen Wunker is Managing Director of New Markets Advisors and the Author of Capturing New Markets: How Smart Companies Create Opportunities Others Don't (McGraw-Hill, 2011).