Product businesses in the industrial sector need to build differently to survive and thrive
Keeping water flowing through the kilometres of underground pipes keeps all players in water infrastructure awake at night, every night.
How do you maintain ageing pipe infrastructure when your big buyers and responsible parties don’t have budget, skills and plans in place? You redesign your product and pricing model! This means building your business differently.
The businesses in this sector that will win will be those that:
- Determine how and where they will focus in this broad sector by picking the niches that, based on their expertise, resources and assets they can dominate;
- Build their underlying business and service/product delivery platform to be super-efficient and simple;
- Spend time sourcing and selecting other non-competing players that they can collaborate with; and
- Combine marketing and sales efforts to deliver solutions beyond products.
In tough times you should be wrapping your products into services that save money and fill skills gaps for your clients.
Pavlo Phitidis spoke to Alastair Balutto of Rexus Trading and Bongani Bingwa on Radio 702 on how to get this right. Listen here to the 3 min podcast here;
Aurik works with businesses operating in the industrial sectors of South Africa to get this right.