A key component of my Slingshot Framework is a visual mapping tool I call ‘the Accordion Chart’. The Accordion Chart is a visual method that enables you to explore the market spaces your organization currently resides in and should look to occupy.
The Accordion Chart illuminates the full spectrum of your value proposition from its most narrow to its most broad definition, leading to profound insights:
- How can you broaden your consumer relevance and lifestyle/workstyle impact?
- Who are your most relevant, not just your most direct competitors?
- How do you define your business right now, and how should you define it to be market-driving?
- What completely new market spaces should you consider entering, based on your company’s Points of Excellence?
A consequence of this type of exploration is the discovery of new market spaces and connection points with other businesses which previously seemed completely unrelated to yours. A striking example of such an intersection is that between Ford Motor Company and H.J. Heinz – the maker of Ketchup.
