Competing in the Stem Cell Marketplace is a Difficult Task
For executives operating a stem cell company or cord blood bank, competing in the marketplace is a difficult task. You must analyze market conditions, predict industry trends, and capitalize on market changes before the competition. Especially within the rapidly evolving stem cell marketplace, it can be difficult to make educated, informed decisions that produce revenue growth for your company, while limiting failed products that won’t have demand in the marketplace.
Within an ever-changing marketplace, individuals who commit to understanding current opportunities and threats are positioned for a substantial strategic advantage. Some stem cell companies and cord blood banks will make expensive new hires or a maintain business development departments in an effort to compete, but you don’t need to.
Small Levers Create Big Results
For a much smaller investment, you can immediately make informed, educated decisions about your marketplace. Market intelligence is your small “lever” that can create big results, because it will inform you about your environment from a 10,000 foot arial perspective. When you are operating every day, you are living within a small micro-environment: your company. Therefore, you can’t easily see all of the changes and shifts that are talking place in the larger macro-environment in which you operate: your marketplace.
Are you truly able to track all the shifting collaborations and alliances, as well as the severed alliances that may have broken down? Do you really know all of the industry mergers and acquisitions that have occurred, and have you identified those which are now underway? Do you know of the industry trends that are taking shape, slowing at first, and then like a giant snowball, gathering power and momentum as they alter everything in their path? Do you know how consumer demands are shifting and what products your end-users are now seeking out? Do you know where funding is flowing from and have you identified those who have it?
“Competitive intelligence” have been given this name, because claiming it is an action that increases intelligence about your marketplace and positions you to out-think your competition.
As our President/CEO, Cade Hildreth, likes to say, “Small hinges swing big doors.”
Are you using leveraged decision-making to acquire huge, massive results for your company?
