Snakes and Ladders in business

Snakes and Ladders in business

There’s a children’s board game where you move counters across and up the board. The object of the game is to get to the top right corner of the board, and you move from the bottom left to the bottom right, then up a level and from right to left on the next row, moving up a level at the end of the row.

That’s a bit like business growth. You win some clients/customers and then you must focus on delivering to them before you can go out to win the next set.

In the game, how many spaces you move depends upon the roll of the dice, and if you land on a snake’s head you slide all the way down to its tail. If you land on the foot of a ladder you climb the ladder taking a shortcut to a higher level.

In business, how fast you grow (move across and up the board) depends upon several factors including the number of prospects you generate, the conversion rate from prospect to customer and the repeat sales to existing customers.

There are plenty of snakes to drag you back down the business growth curve. Customers have problems of their own, new competitors enter the market or perhaps your products and services are affected by changes in the market.

There are also ladders to accelerate growth - acquisitions.

You could buy a business to acquire its customer base

You could buy a business to acquire its products

You could buy a business to address a weakness in your business – something that is holding you back from growth

Ideally, you will buy a business that ticks more than one box. Perhaps it operates in an adjacent market, so that you can sell your products and services to their customers and their products and services to your customers.

Would you like to know more? Get in touch!

Send Tim Luscombe an Email
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Related Article: How do you find a buyer?