Defining the Adjacent Possible
What is the Second Horizon?
Horizon 1: Maintain & Defend Core Business
Activities that are most closely aligned to your current business.
Most of your immediate revenue making activity will sit in horizon 1. For a retailer, this would include the day-to-day goals associated with selling, marketing and serving your product/customers. Your goals in horizon 1 will be mostly around improving margins, bettering existing processes and keeping cash coming in.
Horizon 2: Nurture Emerging Business
Taking what you already have, and extending it into new areas of revenue-driving activity.
There may be an initial cost associated with your horizon 2 activities, but these investments should return fairly reliably. This is based on them being an extension of your current proven business model. Examples of this could include launching new product lines or expanding your business geographically or into new markets.
Horizon 3: Create Genuinely New Business
Introducing entirely new elements to your business that don’t exist today.
These ideas may be unproven and potentially unprofitable for a significant period of time. This would encompass things like research projects, pilot programs or entirely new revenue lines that require significant upfront investment.
NOTE: THIS IS TOTALLY STOLEN. CHANGE BEFORE WEBSITE GOES LIVE.