7 Pennies Consulting consists of a team of people with extensive experience and know-how, with the dedicaton and perseverance to help you achieve your growth goals, and with the geographic coverage that is needed in today's global economy. ERIK PENNINGS, PhD, MBA, General Manager & Principal, Princeton, NJ, USA as well as The Hague, The Netherlands.
Erik Pennings is the General Manager and Principal of 7 Pennies Consulting, which he founded in 2009 with the mission to help companies grow revenues through introducing new products or expanding into new markets. Throughout his career, Erik has been able to take a product from the initial idea, get it developed, introduce it to the market, and lead it to multimillion dollar revenues.
Erik Pennings is the General Manager and Principal of 7 Pennies Consulting, which he founded in 2009 with the mission to help companies grow revenues through introducing new products or expanding into new markets. Throughout his career, Erik has been able to take a product from the initial idea, get it developed, introduce it to the market, and lead it to multimillion dollar revenues.
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The most critical part for any company is a clear sense of where to go next. While this is often stated, it is not always clear how to derive such a path or growth strategy. 7 Pennies can work with you in order to develop such a growth strategy.
In addition to strong analytic skills as well as solid business experience, 7 Pennies has a strong ability to listen and understand where you come from, since the strategy must, after all, be true to your core competences.Based on a number of brainstorm sessions as well as detailed research, that touch on all elements of strategy (such as market, competitor, and SWOT analysis), a growth strategy is derived that will be right for your company.
In addition to strong analytic skills as well as solid business experience, 7 Pennies has a strong ability to listen and understand where you come from, since the strategy must, after all, be true to your core competences.Based on a number of brainstorm sessions as well as detailed research, that touch on all elements of strategy (such as market, competitor, and SWOT analysis), a growth strategy is derived that will be right for your company.
A business case may be needed in a situation where you have an ongoing business and are presented with one (or more) unique opportunities such as an attractive customer request in an adjacent market, new markets opening up (e.g. as a result of new technologies), or a unique opportunity to acquire another company.
Whenever venturing into new markets or when starting a new business, a detailed (quantitative) market understanding is critical. 7 Pennies prepares a market report that details market segmentation, market size and growth, products or services sold to that market, features needed for differentiation, plus a list of key players.
A deep understanding of your competition is fundamental to any successful growth strategy. If your products are too similar to those of your (entrenched) competitors, then it may either prove impossible to get in the door, or else it will become a price fight leaving no (survivable) margin on the table.
You know it when you see a perfect sales pitch, but making one can prove awfully hard.
Finding the right tone between pitching aggressively yet not overdoing it, being assertive about your offering's benefits yet ensuring it is based on facts relevant to the customer, answering all the customer's questions yet not being overly long, making certain there is good storyline, and, at the end of the presentation, ensuring that you talk shop so you can achieve your goals.
Finding the right tone between pitching aggressively yet not overdoing it, being assertive about your offering's benefits yet ensuring it is based on facts relevant to the customer, answering all the customer's questions yet not being overly long, making certain there is good storyline, and, at the end of the presentation, ensuring that you talk shop so you can achieve your goals.
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