Entrepreneur Plus - Short White
For Subscribers

Room to Grow Yes, even in the most stagnant economy, it's possible to expand.

By Mark Henricks

Opinions expressed by Entrepreneur contributors are their own.


Does this sound familiar? Your markets are growingslowly or not at all. You lack cash to buy another company, andinternational markets look worse than the domestic ones. Ifthat's you, pick up a copy of How to Grow When Markets Don't(Warner). Management consultants Adrian Slywotzky and Richard Wise,along with co-author Karl Weber, present "demandinnovation," a strategy for use in slow- or no-growth marketsand economies.

Demand innovation advises companies to creatively identify unmetcustomer needs so they can increase sales without the risk ofentering new markets or attracting new customers. That's noteasy, the authors say. Inflexible corporate culture, lack of timeand customer reluctance are common obstacles. But using examplesfrom industries such as autos and insurance, they show it can bedone.

Continue reading this article — and all of our other premium content with Entrepreneur+

Join the internet’s leading entrepreneur community! With your subscription you’ll get:

  • Access to all of our premium content and an ad-free experience
  • A complimentary subscription to Entrepreneur Magazine
  • Four free e-books a year and 20% off everything from our bookstore
  • Exclusive events with business celebrities and successful entrepreneurs

Editor's Pick

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Fundraising

Working Remote? These Are the Biggest Dos and Don'ts of Video Conferencing

As more and more businesses go remote, these are ways to be more effective and efficient on conference calls.

Growing a Business

The Best Way to Run a Business Meeting

All too often, meetings run longer than they should and fail to keep attendees engaged. Here's how to run a meeting the right way.

Marketing

The Rise of Nano-Influencers: How the Smallest Voices are Making the Biggest Impact

The bigger an influencer is, the more beneficial it is for a brand to collaborate with them, right? Not necessarily.

Management

Which Hiring Strategy Is Right for Your Startup? My Experience Says This One

Startup businesses face a unique environment when it comes to adding the talent it needs during their earliest stages of operations, and every hiring decision is critically important to get right the first time.

Science & Technology

How AI Is Transforming the Accounting Industry — and What the Future Will Look Like

It's time to harness the power of AI and transform bookkeeping.