Opening a business or improving an existing one is not always easy. The market is in constant change and companies must make great efforts to follow its rhythm and keep their positions in the market.
In order to be successful, it is essential to carry out a deep study not only about the market itself, the opportunities it offers and what it’s lacking, and the customers’ needs, but also about the competence and the way they approach the prospects, with the right business budgeting software a key tool in this task.
In this article, we are going to analyze the new business strategy unveiled by the latest CEO of Sage
Who is Stephen Kelly?
Stephen Kelly is a British Businessman with a BSc in Business Administration from the University of Bath. He has run the Sage Group, a British multinational software company (one of the largest in the sector), for more than four years.
Since he assumed the position of CEO of Sage in 2012 the company has experienced an incredible growth that has earned it one of the first positions in the market, making of it a giant IT company.
The major transformation undertaken under the direction of Kelly was the creation of Sage Business Cloud. Before that, the company had little to no presence in the cloud, and now it is one of the leading companies in the sector. The company, although already occupied an important position in the market, they were struggling to catch up with some of the most-innovative cloud-based vendors.
It is safe to say that Kelly’s intervention made possible for the company to become what it is today: a giant of the IT technology. But this was not accidental nor coincidental. It was the result of a carefully planned renovation business strategy.
Here are some of the steps they followed to experience such growth:
- Find an uncovered niche
In this case, he didn’t find an uncovered niche of the market in general, but a business opportunity his company was missing. Due to the lack of technology used, the company was unable to catch up with the best cloud-based vendors. They couldn’t keep up and were being left behind their competitors.
Kelly saw this opportunity and did something to change that situation: the full presence of the company on the cloud.
- Go beyond
Instead of competing with other companies that provide similar services, Kelly opted for innovation. Analyzing the competitors might be effective, but there is nothing more efficient to stay ahead of the curve than innovation.
He wanted Sage to be perceived as a market leader, and so he did. This gives an important lesson: if you want to be the best at anything, you have to invest and try to create something good enough to earn the reputation.
- Calculate the impact of those changes
When planning to carry out such an important business remodeling such as the one undertaken by Sage it’s important to carefully analyze how those changes are going to impact on the market, and how the market is going to respond to them.
In the case of Sage, Kelly was completely convinced that moving to the cloud was what the company needed for growth, but he took special care in the customer’s perceptions. He understood that change as a progressive process, so they tried no to force customers to change abruptly their purchasing customs by forcing them to completely move to the cloud.