The fight to stay alive in today’s marketplace can be all-consuming for many companies. Achieving quarterly growth, keeping shareholders happy and delighting one’s customer base are activities that leave little time for exploration and development. However, without concerted efforts to discover and capitalize on the growth opportunities presented by new ventures, businesses will inevitably succumb to the law of diminishing returns. The method to find and master the opportunities of the future is the subject of the latest book to be summarized by Soundview Executive Book Summaries: Capturing New Markets: How Smart Companies Create Opportunities Others Don’t by Stephen Wunker.
Wunker has extensive expertise in the area of developing markets. He is the managing director of consulting firm New Markets Advisors. He also worked closely with Harvard Professor Clayton Christensen on the creation of his innovation consulting practice. Capturing New Markets gives readers the equivalent of a personal consultation with Wunker. He progresses through the material in a manner that brings order and clarity to the hazy prospect of understanding new markets.
One can’t-miss section of the book is Wunker’s excellent answer to a common question: “How can we discover a market that doesn’t yet exist?” Wunker guides readers through the process of gauging a market’s value. He also provides a set of eight signs that an industry has the potential to quickly grow. This combination of succinct explanation with strategic takeaways gives Wunker’s book a level of strength that puts it ahead of more theoretical books on the subject of future markets.