Companies grow revenues and market position in a few main ways--from organic growth through existing customers, entering adjacent markets, and making bold moves through acquisitions.
Existing customers are paramount to growth since without them there is no future for a company. Therefore, finding ways to increase customer value proposition creates a bridge to the future. Additionally, the asset used to serve current customers can be reconfigured to enter adjacent markets. Nike famously branched out from shoes into golf, even though it had no experience in the sport and became a leader in just four years.
Market moves through M&A are as risky today as ever, particularly in the technology sector. These big bets are frequently based on leaps of judgement whether a trend or market will take off in a reasonable time. The ability to create clarity, confidence, and really challenge the closely held assumptions of the direction of an opportunity is paramount to whether an audacious investment will pay off.