[MUSIC] Well we grow and we expand. And one way of looking at it is saying okay, we've done what we're going to do. We get the money and we get out. But probably more interesting way to see it, is seeing it as a starting point for leverage. And if we see it as a starting point, the obvious question is, what's The Next Step? Here's a really old strategy model developed by Igor Ansoff. This matrix could actually be used in order to plan what to do next. We have existing products and possibly new products, or services. We have existing customers, and possibly new kind of customers. [COUGH] So we start off in a situation where we have existing products with existing customers. Now, should we go for new customers with old products? New products with old customers? Or, actually trying to go for new products and new customers. The model is commonly used in order to tell, don't go for new customers and new products because then you have nothing with you when you enter. Instead trying to start off with new product for existing customers or new customers for existing products and then entering in to the area of new customers, new products. There's a lot of historical cases where this matrix is used to discuss. For instance, the company Ericsson, that once upon a time mainly we're doing radio base stations, and actually still are. But once upon a time they developed a mobile phone. I don't know whether you ever had one but, yes, they did. I actually did have one quite a lot of years ago. Some say that the big problem of Ericsson trying to sell mobile phones was that they suddenly had a new product and went for new customers. The historical customer was the telecom companies that bought radio based stations. But on the mobile phone market, it's private customers, with a new product. Well, if we look on history, what did happen was actually that Ericsson sold the mobile phone division to Sony, and maybe that was a good choice. You could actually use this matrix in order to discuss, is it better for us to do more products with existing customers, or the opposite? But try, in general, to avoid new customers with new product. On the other hand, it is really interesting nowadays to see that some companies are really able to walk quite a long way on this matrix. Amazon is for example books on the Web but what are they selling nowadays? Well, nearly everything. Everything from ICT consultancy, in terms of their cloud services, to hardware, to fashion goods, etc. Maybe, when we enter into the digital world, you could walk really quickly in this matrix, compared to how we did historically. I mean, assume a physical book store. What would happen in your head, if they suddenly, when you buy a book, would ask you hey, by the way, do you want to buy our consultancy services? Or do you want to buy an iPhone or an iPad. I guess most of us are not as customers ready for that kind of shift. And that is the reason why this answer for matrix works, but maybe in some situations digitally you could do the shift really quickly. Anyhow, the model is quite useful when it comes to planning the next step. Well, one obvious option is developing the product further. Because I guess that product is not ready yet. It's probably not existing in all countries, so you need to translate it. You need to fix a lot of tech standards. There's probably a lot of options for you to develop the product further and maybe that is the best thing to do now. Making it even better, doing all the things you discussed when you started this project years ago, but never did have the money to do. Another option is actually bundling products in portfolios. When it comes to software, we see it daily. You can buy a suite of products containing that software, that software, that software. Bundling things into bigger packages could be an option. Another thing that might happen when you start looking and to what customers are really doing is that they're paying for one thing, but they're actually doing and using something else. And maybe that is okay to you, meaning you're doing some of the stuff for free and earning some money on something else. And here is an option of developing, you free stuff like a chat page, like a community and like a fact site or whatever related to your product or your service or making more exclusive products and services. Like, here is the subscription for our basic product. But do you want the gold version or the diamond version? Then you get some more. That is also something we obviously see more and more of in the digital world. Co-creation is of course also an option. Meaning involving customers. Making them develop the product and the service further. And honestly speaking, if we're ten or maybe even ten, or lucky enough 1,000 people in our account company. Compare it to 1 million people caring about what we're doing. How much better could the product be? Meaning opening up parts of the product. Now, of course, there is also the question of whether we should go global or not. When it come digital, you're actually already global. The question is only whether you're selling globally to somebody in another country, but still it does matter because we have regulations which are different in different countries. Taxes are different in different countries and language and culture are normally different in different countries. For instance, what should the product be called in another language? More to existing companies, or existing customers, and spreading the service is always most likely the best option. Because you have the customer, you have a relationship to them. They already love you, give them more what they need. In average, that is quite often the best thing to do. Well another thing actually to be considered now when we're really taking off is competition. Could we do something in order to block them? I don't know whether remember when eBay did start in US, there was a company setting up something really similar to eBay but in Germany. And actually after while they sold what they did to eBay. Their calculation was quite simple, eBay is fully occupied with entering the US market. It's going to take them someone before they're entering in the German market. We could take the position before they enter. The strategy to that company was really clear. It's called Rocket Internet, nowadays. It was clear that they knew what the company would do, so they just took the position before. And that is something quite often happening. You could see it with all really big global phenomenon, that you find copies, or clones, or something similar. To us, it means that maybe we want to block competition. Meaning doing actions in order just to be in the way of a possible competitor. When we take off and we really boom, we have a lot of strategic choices. But don't lose your basic ID. Don't lose your focus. At least, if you decide to loose your focus and change focus, it's good to be aware of it. Compared to realizing two years ahead that suddenly your basic ID is totally gone. And of course, digging deeper where we already are is always an interesting option. [SOUND]
