{"id":114856,"date":"2023-08-11t11:55:49","date_gmt":"2023-08-11t15:55:49","guid":{"rendered":"\/\/www.g005e.com\/?p=114856"},"modified":"2024-08-27t17:01:34","modified_gmt":"2024-08-27t21:01:34","slug":"you-only-have-four-strategies","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/08\/11\/you-only-have-four-strategies\/","title":{"rendered":"you only have four strategies"},"content":{"rendered":"

\"businessman<\/strong><\/p>\n

look at your service offering like a stock portfolio. any losers?<\/strong><\/p>\n

by august j. aquila<\/i>
\nprice it right: how to value accounting servic<\/i><\/a><\/p>\n

can you ever spend too much time thinking strategically about your accounting and consulting practice? if you are like most professionals, you usually have outlined some goals. you know where you want to go.<\/p>\n

more: <\/b>one question to guide your growth plans<\/a> | five rules for a marketing orientation<\/a> | the damage that traditional fee methods do<\/a> | four ways to prepare for new business development<\/a> | ten keys to marketing success<\/a>
\n\"goprocpa.com\"exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n

the real question you must ask is this: \u201cdo you know the best way to get there?\u201d in other words, \u201cwhat\u2019s your strategy?\u201d
\n
\ndo you have a service portfolio strategy?<\/strong><\/p>\n

your service portfolio strategy tells you what you are going to do with each of your current major services. you must look at your service offering the same way you look at a stock portfolio. some services are winners, and some are losers.<\/p>\n

first, identify the major services your firm offers. second, determine what you are going to do with each of these services. there are only four strategies you can employ with each of your current services. you can get rid of some, maintain others, cut back or expand.<\/p>\n

developing strategies<\/strong><\/p>\n

many years ago, the boston consulting group developed a portfolio evaluation tool<\/a> that is still relevant today and can help you determine which of the above four strategies is right for different services. the boston consulting group rated services or products according to two variables \u2013 market growth and market share.<\/p>\n

the following chart shows how the boston consulting group looked at products and services. the horizontal axis represents relative market share, and the vertical axis represents the market growth rate.<\/p>\n

 <\/p>\n\n\n\n\n\n\n
\u00a0<\/strong><\/td>\ngrowth share matrix<\/strong><\/td>\n<\/tr>\n
high market growth<\/td>\nstars<\/td>\nquestion marks<\/td>\n<\/tr>\n
low market growth<\/td>\ncash cows<\/td>\npets<\/td>\n<\/tr>\n
market share<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 high \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0low<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

\u00a0<\/strong><\/p>\n

\u201cstars\u201d are in high-growth areas and have a relatively high market share. most firms invest in their \u201cstars\u201d to keep them shining. \u201cquestion marks\u201d have a small market share but are in a fast-growing market. can you turn the \u201cquestion marks\u201d into future \u201cstars\u201d?<\/p>\n

\u201cpets\u201d (they were called \u201cdogs\u201d when the matrix was first developed) are in low-growth areas and with a small market share. unless you feel that the \u201cpets\u201d are necessary for your overall market position you should consider getting rid of them as soon as possible. finally, \u201ccash cows\u201d have a high market share in a slow-growth or stagnant market. you have invested a lot of time and resources in \u201ccash cows,\u201d and they now generate a lot of cash and profit for the firm. you want to hang onto them for as long as possible.<\/p>\n

what\u2019s your strategy to stay competitive and profitable?<\/p>\n","protected":false},"excerpt":{"rendered":"

look at your service offering like a stock portfolio. any losers?<\/strong>
\n\"\"<\/a>
\nby august j. aquila<\/i>
\nprice it right: how to value accounting servic<\/i><\/a><\/p>\n","protected":false},"author":1331,"featured_media":115452,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2254,3120,3002],"tags":[],"class_list":["post-114856","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-growth","category-pro-member-exclusive","category-special"],"acf":[],"yoast_head":"\nyou only have four strategies - 卡塔尔世界杯常规比赛时间<\/title>\n<meta name=\"description\" content=\"actionable intelligence for tax, accounting, and financial professionals\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"\/\/www.g005e.com\/2023\/08\/11\/you-only-have-four-strategies\/\" \/>\n<meta property=\"og:locale\" content=\"en_us\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"you only have four strategies - 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