Strategic Assessment
HOW A BUSINESS PERFORMS IN A FAST-MOVING WORLD

Question #4: “New” products/services represent at least 33% of our total sales for the last three years.

Caveat. Many companies mistakenly think they are offering “new” products/services, but are merely offering extensions of previous products, or copycats of competitors’ products. Actually, “new” products/services should be offers that are unique in your market.

Using that definition, most companies’ “new” products/services represent only 10% to 20% of total sales for the last 3 years. That’s dangerous in fast-moving times.  Market leaders focus their innovation efforts higher (for example, by leveraging Carlos Dias’ Value Innovation tools and processes), creating a continuous stream of new high-value products that represent 33% or more of total sales, measured over 3 years.