Growth Through Adjacent Markets

Expanding into adjacent markets can provide significant sales growth opportunities for businesses. Adjacent markets are those that are close in proximity to a company's core business, and the key to success is in exporting skills and capabilities rather than existing products and services. By leveraging core competencies and creating new value with new customers, businesses can create new sales opportunities with less risk and more accessibility. When evaluating adjacent markets, it's important to consider competition, market size, and regulatory barriers.