Systematically Exploring Adjacencies
The most sustained, profitable growth comes when a company pushes outside of its core business into adjacencies or “white spaces”. However, expanding into adjacencies is challenging, as this can require exploring unfamiliar markets with different go-to-market strategies and business models. Research shows companies that have systematic processes for exploring and attacking adjacencies are likely to be more successful than those that approach these opportunities arbitrarily. During this session, we will showcase techniques that can help an organization systematically explore business opportunities that arise from their core capabilities or technologies. Groups of participants will explore market adjacencies for given technologies in order to better understand methods for identifying and prioritizing the different customer jobs that a technology can perform. For the same technologies, other teams will explore go-to-market obstacles in order to identify business models that can overcome these barriers and drive adoption. Participants will leave the workshop with knowledge of how to deploy this systematic process to identify high-potential opportunities for their own early-stage, late-stage, and shelved technologies. This session will kick-off a new ROR project on the subject.
Facilitators: Robert McNamee, Temple University; Andrew Maxwell, York University