Thank You Howard

This goes out to Howard Chen from Ritek USA who's inspired me to get back on the horse and start posting again. Howard sent me an email looking for some thoughts on entering new markets. I thought it was appropriate to share that question and my response as my first post in nearly a year.

Howard's questions was...

I am trying ot market our products into a few new markets. What will be the best way to do it?

My response was...

Entering into new markets is very difficult unless you have existing customers who have other divisions that are currently serve those industries. So I’d suggest that you first start looking at your existing customers that fit that profile…if, you haven’t already. Get introductions into those industry verticals from your existing customers.

Second, focus on those industries that have similar needs to the industries you are currently serving…we call it “adjacencies”. Remember “new” takes a long time and is costly. Try to find ways to eliminate “newness” …e.g. new customers, new needs, new applications, etc.

Thanks Howard and look for a new post next week. I'm back!