Finding sustainable and profitable growth opportunities remains the Holy Grail for all companies – whether in highly developed and competitive markets in Europe, or developing, high growth economies like India. While finding the white space – that untapped terrain in a market – is a common approach to figuring out where to play, a better way to win is to focus on “ownable space” opportunities.
Ownable space centers on a company’s right to win in a given market, grounded in “heritage” competencies or competencies you purposely go after. There are three basic approaches that can be utilized to identify your ownable space opportunities:
- Claim your ownable space: going after unmet customer needs or market areas that are underserved, using your right to win as the competitive lever
- Create your ownable space: use your competencies to drive and build market opportunities in a way that uniquely leverages your core strengths
- Capture your ownable space: stretch and extend the limits of your capabilities to take market share away from competitors