Grow Your Business/Grow Your Community
The Company needed to expand and to find new markets for its products. It is a third tier job shop manufacturer which provides custom tool parts for companies that build equipment used by primary companies in construction and agriculture. The Company was in the process of developing a five year strategic plan that took into account the future of demand.
I obtained General Industry Trend Reports, by relevant NAICS code. I researched news reports (using both the web and subscription only document databases) and sorted these for relevance. I was looking specifically for news on company growth, either through new contracts or unusual workforce expansion. I obtained additional industry trends for the sectors that were growing. I researched regional economic trends.
The client found out that Agriculture was poised to improve, that Construction would continue to do poorly, and that Suppliers of Military Equipment would do well, in the coming five years. The military equipment news was specific to the region and in opposition to national trends. This gave the client the information it needed to focus their efforts effectively on acquiring new clients. The company was able to maintain sales when many of their competitors were losing sales. They used the information to develop new products and new market opportunities.