Home

Legacy Innovation Group
+1 844 534 2294
Home Core Services Management Practice Business Consulting Scouting – Organic Growth & Expansion

ORGANIC GROWTH & EXPANSION SCOUTING

As part of our Management Practice, we offer scouting services relating to organic growth and expansion opportunities.   These focus on two key complementary areas of organic growth.

The two areas of opportunity scouting are:

  1. Market Scouting — Searching for new market opportunities to expand your market presence with existing or forthcoming offerings.

  2. Technology Scouting — Searching for new technology–application opportunities to evolve or expand your product and service offerings.

These are explained in further detail below.


MARKET SCOUTING

Market Scouting

Many technology–driven companies find they already have outstanding technologies and capabilities around which they can deliver high–performing products and services.   However, they find their struggle lies in having already tapped out their share of the markets they are in, so they need to uncover new market opportunities into which they can apply their technologies in order to sustain future business growth.

We benefit from being routinely tapped into to a wide variety of markets and industries around the world.   This gives us broad cross–industry insight that does not exist inside most organizations, affording us a wide view of potential technology applications.   As a result, we are in an ideal position to help you find valuable new market opportunities for your technologies.   Accordingly, we work to identify very specific ways your technologies can fit into new market applications that lead to profitable new products and services.


The Market Scouting Engagement typically follows these steps:

  1. We begin by listening to you so as to understand your market scouting objectives.
  2. We next profile your company and its technology portfolio so as to understand what will constitute a good fit.
  3. We then conduct focused market scouting work around adjacent and distant markets, including the key customers associated with these markets.   We attempt to accurately capture the unmet (and potentially unstated) needs in each of these markets (their "pain points"), which your technologies may be able to address in ways that currently-offered technologies and products do not.

    Market scouting often involves some amount of field work, taking us to various events and destinations around the world, including conferences, industry trade shows, and specific company sites.

    The baseline version of this work is qualitative in nature.   If quantitative insights are also desired, additional market research can be paired with the scouting work to develop those.
  4. When finished, we prepare for you a formal Market Scouting Report outlining all of our key findings around potential new market opportunities.
  5. We then travel to your office and present the new market opportunities to your leadership team.   We can also lead workshops with any of your staff to help disseminate an understanding of these opportunities wherever needed.
  6. As desired, we can provide additional assistance in helping your organization take the next steps toward these opportunities, such as in defining new product platforms and new go-to-market strategies.

To learn more about engaging us for Market Scouting, refer to our Management Engagement page.


TECHNOLOGY SCOUTING

Technology Scouting

Most market–driven companies are heavily focused on a single market or cluster of markets.   This inherently produces a narrow field of view around the technologies used in (and the products and services offered to) these markets.   These types of organizations often benefit from the assistance of an experienced third party in identifying and assessing new and/or emerging technologies, and in helping them to decipher how such technologies might lead to new product or service opportunities to fuel their ongoing business growth.

We routinely conduct research on new and emerging enabling technologies, and are often in an ideal position to help clients understand and assimilate certain of these technologies.   We focus not only on what the technology is and how it works, but more importantly, on how the technology has been applied and used to date (though prior modes of use need not constrain future modes of use).   From this we can develop concepts around how your organization might potentially leverage a given technology within its product or service portfolio.


The Technology Scouting Engagement typically follows these steps:

  1. We begin by listening to you so as to understand your technology scouting objectives.
  2. We next profile your company and its current market footprint so as to understand what will constitute a good fit.
  3. We then conduct focused technology scouting work around particular technology areas and the particular companies developing these technologies.

    Technology scouting often involves some amount of field work, taking us to various events and destinations around the world, including conferences, industry trade shows, and specific company sites.
  4. When finished, we prepare for you a formal Technology Scouting Report outlining all of our key findings around potential new technology–application opportunities.   In some cases, we are able to secure sample properties demonstrating these technologies.
  5. We then travel to your office and present the new technology–application opportunities to your leadership team.   We can also lead workshops with any of your staff to help disseminate an understanding of these opportunities wherever needed.
  6. As desired, we can provide additional assistance in helping your organization take the next steps toward these opportunities, such as in defining new product platforms and new go-to-market strategies.

To learn more about engaging us for Technology Scouting, refer to our Management Engagement page.
Legacy Innovation Group, LLC
Grand Rapids, MI 49503 USA
+1 844 534 2294