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Advanced Imaging Magazine

Updated: January 12th, 2011 09:49 AM CDT

How to Develop Business Opportunities

Strategies for finding new prospects in difficult times
Dynamis AB
Bin Picking is one of the most interesting opportunities in visionbased automation. In 2008, for example, Karlskoga, Sweden-based Dynamis AB, successfully introduced SensActive ™ technology for bin-picking applications.
Hofmann AMC
The goal of realizing additional business can be achieved in many different ways depending on your core business, customer base, competition and available budgets & resources. Opportunities can be grouped into three categories: Existing customer/new product, existing product/new customer and new product/new customer.
Baumer Gige camera
National Instruments module for camera link imaging processing
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By Holger Hofmann
AMC Hofmann

•Option to buy into the market by acquisition

In addition to the rational approach to the decision making process, don´t forget to listen to your gut feeling as well. You will never have all information to come to a “safe” decision, so gut feeling is a valuable indicator to swing a decision in one or the other direction.

Within the evaluation process also the future strategy starts to develop. The strategy depends on the whole market situation. Scenario management is a great method to support finding the right strategy for the new business. By entering a new market and getting market shares, the whole market will change. At least for your competitors it does—they are losing business. What will be their reaction? And how do you prepare yourself for the next step?

Obviously, not everything that might happen can be foreseen. However, the most likely scenarios should be discussed as well as possible strategies to cope with them.

• Delay in projects happens all the time; at best you will miss some sales opportunities.

• It is obvious that competition will fight for business—probably with price reduction, improving services, setting up another strategy against you.



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