Seizing the Opportunity to Triple Your Revenue
Last month we examined a major force in the business marketplace – the threat of “disruption” and how to overcome it by creating game changing innovations within your company.
This month I would like to look at the flip side, the incredible opportunity being presented to virtually every company or organization in the world.
Unprecedented Middle-Class Growth
According to a number of experts, including Brookings Institution scholar Homi Kharas, the worldwide middle class will increase from 1.8 billion to 4.9 billion people by the year 2030. This increase will mainly occur in Asia and India, however significant middle-class growth will also take place in Central and South America, the southern fringes of Asia, Africa and the Middle East.
According to organizations like the United Nations and the Organization for Economic Co-operation and Development (OECD), currently middle class is defined as someone who earns or spends $10 to $100 per day – depending on the local cost of living.
At that point a person has enough disposable income to purchase consumer items like smart cell phones, microwaves, upscale clothing or consider buying a car.
As the UN suggests, the growth is being driven by industrialization and the globalization of the economy. The industrial revolution of the 19th Century and globalization of the economy in the second half of the 20th Century transformed the economies of much of the world. As this continues, the move from agrarian to industrial societies in other countries will generate income increases that will create enormous groups of middle class consumers.
Why This Matters to You
But what does this mean to you?
It means that there will be consumers everywhere in the world, not just in your current country. Business 
opportunities will explode. This explosion in the middle class and development of the transportation and related systems necessary to get goods to them will enable you to sell products worldwide.
For service companies the demand for and infrastructure (i.e. the Internet) required to deliver them will allow you to provide services anywhere on the Earth. The unprecedented opportunity to deliver medical services globally will raise the standard of living and improve the health of much of the world.
Tourism will explode because many more people will have the time and money to see areas outside their local geographies. That is why there has been a recent binge in airlines buying planes – they know this travel explosion is coming.
The bottom line is that the Internet and globalization are changing everything!
As long as trade wars and major disruptions from terrorist attacks can be avoided, the future of the world and growth opportunities this presents for businesses looks very inviting.
Innovation is the Key to World-Wide Growth
So how does a company get across the chasm of threats from disruption to the land of 21st century opportunity? By applying innovation to itself to develop a much larger, even a global footprint.
To do this, closely consider what your organization currently does and then examine how to take advantage of this nearly tripling of the world-wide middle class? That is, how can you tap into consumers across the world? What actions can you take to start selling your products in other countries? Where do you need to begin to become a global services company?
Additionally, how could you go about delivering medical products and services across borders? What steps could you take to avail yourself of the explosion in world-wide tourism and related services occurring? Where could you begin to use the Internet more fully to reach this global market?
At the core of all these opportunities is the need for and call for innovation. Once the above opportunities have been deeply considered, then closely examine your company to determine how you can apply innovation to it to take it to the next level.
Ways to Go Global
Increasingly, there are more and more Federal, State and Regional organizations that can help you expand internationally. Also, many Industry Organizations offer assistance with taking these steps.
Alternatively, instead of taking the actions by yourself, you could partner with another company in your country that is already doing business overseas.
Another tactic to utilize is to contact foreign companies doing business in your geographic area and provide innovative services to them as your customer. Once they are pleased with your products or services, ask them if they could facilitate you doing the same for their operations in other countries.
If you are already operating in foreign lands, use this new-found understanding of the upcoming middle-class growth from 1.8 billion to 4.9 billion people to ignite your commitment to fully embracing the company-wide innovation that will be necessary to avail yourself of this opportunity.
By taking these steps you will be able to grow revenue, attract new customers, and generate more profits.
If you need assistance with how to use innovation to grow your global presence, please contact us so we can show you how to do this by using innovation to transform your organization.
Fountainhead Consulting Group, Inc. is an Innovation and Business Planning firm. During the past 17 years we have shown over 1,200 companies how to achieve their goals by using our unique, comprehensive and systematic, innovation, business planning and growth Structure of Success™, Innovation Academy™ and FastTrak Innovation Program™ methodologies. Using the components in these methodologies, each month we examine an aspect of how to transform your business or organization into a true 21st Century operation.
Office phone: (770) 642-4220
www.FountainheadConsultingGroup.com
George.Horrigan@FountainheadConsultingGroup.com
