ContractIQ: Organic Growth Strategies for a Startup Firm

ContractIQ, a [fictional yet realistic] pioneer in contract review automation, offered an AI-powered platform that helped in-house legal teams at large and mid-size enterprises review contracts and identify risks within them more efficiently than traditional methods. In 2022, the company faced the challenge of sustaining organic growth. It considered four options: expanding its customer base geographically; extending its product line to review additional contract types; broadening its scope to become a comprehensive contract lifecycle management provider; and adopting a product-led growth strategy to penetrate the small-business market. Each path presented distinct growth potential, profitability, costs, risks, and issues of alignment with the company's core competencies.