10 Growth Strategies for Your Product

"What wants does the consumer have that are not being adequately satisfied by the products or services offered him today? It is the ability to ask this question and answer it correctly that usually makes the difference between a growth company and one that depends for its development on the rising tide of its economy or industry." — Peter Drucker, The Practice of Management, 1954

This quote from Peter Drucker is a perfect representation of the difference between a company being reactive about growth (rising and falling with the tides) versus proactive about growth.

As an MBA student, I remember my Strategic Marketing professor, Stew Bither, introducing me to Igor Ansoff's Growth Matrix as a framework for developing a growth strategy and Michael Porter's Five Forces. Both have become my most referenced and used concept I learned in graduate school.

As I moved into product management and then product leadership, growth was always a key objective. I would always look at my current products and markets in context to Ansoff's Growth Matrix. It was the foundation for every Growth Strategy I created.

This blog is a follow-up to my blog "Situational Growth Strategy for Your Product," where I did a reasonably deep-dive on Ansoff's and my concept of Situational Growth Strategy. If you have not read that yet, you may want to start there as these ideas will be additive.

10 Growth Strategies

In that blog, the Situational G