Business Development
Ecosystems are not just for waterfowl
23/10/09 16:35
However, do you also know that the same holds true with your business? It does not matter what stage of growth your company is at, the reality is that if you are not tapped into your ecosystem, then not only are you missing out on opportunities, chances are you may be putting yourself risk of being wiped out. As we have mentioned above, in an ecosystem each organism (company) is interdependent upon the others within the same habitat. As a very simple example of this, a photocopier company and its products are useless without paper suppliers and the paper that they deliver. Both the paper and the photocopiers are reliant upon toner in order to produce the results that they both promise - multiple copies of an original document. Without the toner suppliers and products...the paper is blank and useless...and the photocopier is a piece of metal and plastic that produces nothing. This is a very basic example, however it clearly demonstrates the value and vital importance of an ecosystem.
So, if you are not tapped into your ecosystem, and finding ways to help your partner companies to survive and succeed, then you may want to start putting in place a plan and some actions items to do so sooner rather than later. If you are not sure where to start, then the following are some ways that you can begin to identify some of the other organisms (companies) within your ecosystem:
1. From your customers perspective, what do they rely upon in order to make your product or service work? For example, lets say you are providing a brand new type of word processor software. Well, your software does not work that well without a computer. This example alone is what has lead to Microsoft being the dominant player in the word processor, presentations, and spreadsheet market. They struck deals with the hardware manufacturers to bundle their office automation solution on the computer as they were being delivered to the customers. Also, your word processor does not work without an operating system....again the example is with Microsoft except for this time they just had to bundle with their own products.
2. From your customers perspective, what other products or services do they use that needs your product or service to work? Chances are your solution is not stand-alone and is part of an overall solution or process. For example, lets say you have developed a brand new payment system to allow users to securely purchase items off of the internet. In this case, then the websites cannot sell their products without a system like yours. They are part of your ecosystem.
3. What does your product or service make better? Are there any solutions or processes that others offer which become better with your offering? A simple example may be if you offer remote controls. Sure a TV can work just fine without a remote, however with your remote it makes the experience much better for the user.
4. What makes your product or service better? The above example still works but only imagine that this time you are the TV manufacturer. Although your solution (the TV) may work...it works even better and gives the end user a much better experience with the remote.
5. What other companies or solutions can be combined with your products or services to help your customer achieve their goals? All of the items listed above involve a level of reliance. However, there are also other potential partners in your ecosystem which you can work with to satisfy unique customer requirements or to give you a competitive advantage. Here is an example....we are currently working with a client that is building a turn-key, pay per use download solution for small to medium sized companies. A requirement for one of the Federal Government department came out wanting a solution to have a content conversion system. In other words they want to take all of their historical items (documents, video tapes, audio files, etc.) and put them into digital format and available for download. Our client cannot help with the conversion of the items into digital format, and there are other companies that do this but do not allow for the items to be downloadable. By making a few calls we have identified some potential partners where we can work together in order to satisfy the government clients requirements.
There are many other ways to identify the other companies...and individuals in your ecosystem. However, it is up to you to take the time to identify these other companies, and to pick up and make contact. Get out there, and talk to the others in your ecosystem to find ways to work together. In today's economy....it is vital for everyone to be working together, to find ways to thrive together.
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