I am so ready to dive into this book. I love my job with Beautycounter. Love how it teaches my children about hard work and service. I love that I get to experience God in the sweetest ways through this job that I don't think we talk enough about --->insert: theology of work.
I am ready to hear and be encouraged by the spirit through Matt Perman. I'm ready to get more things DONE! I'd love to hear from you if you have read it or plan to. I can already tell I'm going to be hooked and done in no time!!
WHAT CUSTOMERS WANT: DAY 10
There is no guarantee that a business existing products or services will address identified opportunities.
If you're anything like me and many other small business owners, you probably have ideas and products that you've been 'developing'. This development can take anything from one day to one year to five years and even more, depending on how quickly you execute.
In addition to the time it takes to develop a new product/service, you also are not sure which of these ideas should take priority over others.
However, for a small business to grow, business owners must determine which ideas should be given high priority and determine the ways to market that product/service quickly.
It is only when they've taken it to the market that they can test the pulse of the market on its viability.
In my opinion, a product is viable when it is able to get its first 3 paying customers.
What about if you have a product/service idea which does not create enough value for the customer and is already in the market? What should you do then?
In as much as that one idea is dear to you, you'll have to find a way to make it work in the marketplace where your customers are open to paying for it.
Failure to do so might mean that you have to find a product/service idea that works for your market.
Ulwick says that businesses have to learn to abandon initiatives that fail to create additional customer value.
Unfortunately, many businesses have difficulty determining which concepts within their business addresses market opportunities.
Business owners must identify the ideas that do the best job of addressing underserved outcomes, those that fail to address the targeted outcomes and those that address outcomes that are unimportant or overserved.
With proper prioritizing, businesses can achieve three important business objectives: - They can deliver winning products that customers want - They can get valued products and services to the market more quickly - They can reduce and save time and money from focusing on what shouldn't be the focus in the first place.
It's the final day of the series & I'll love to know how it has helped.