Episode A.011 Closing The Offer - Part 1

As discussed in earlier shows on this track, a step-by-step process is the right approach. That doesn't mean you are done after the first pass. At a minimum you should do this twice. Once you finish pricing start back at Strategy Starts Here and work your way through the information. The second pass will allow you to refine and rethink earlier decisions. It is critical you are committed to implement with urgency so build your confidence now.

Show A.006 Strategy Starts Here
Part One: Capturing Your Dream

1. The Dream: your why.
2. Vision, Mission, Values: turning your why into the company's DNA.

Part Two: Strategic View

1. Strategic View;
2. Value Proposition;
3. Targeted Markets.

Show A.007 Defining Your Market - How to Pick the Market for Investment
Segmenting Questions

1. First sort: Regional or Account Type;
2. Current Trends in the Market;
3. How big is this market;
4. How big are the adjacent markets;
5. Market Penetration of our Offer;
6. Potential Growth in the Market;
7. Who are the competitors and their market share;
8. Relative satisfaction of current providers;
9. Potential for Becoming #1 or #2;
10. Current process fit the prospects;
11. Financial ability to pay and timing;
12. Current pain points - the why behind purchases.

Show A.008 Building Your Offer By Market
​Conduct or Gather Market Research

• Identify pain points (needs) by targeted industries or companies;
• Identify targeted industries, companies, or consumers with budget to obtain acceptable margins;
• Identify targeted industries, companies, or consumers that fit your processes;
• Match current product/services brand offer with sales opportunities. 

Analyze Sales Opportunities

• Given what these companies or consumers are currently buying, identify why are those products and services not sufficient;
• Match specifications of our image, products, services against what is being sold;
• Identify the greatest gaps between our and the competitors offer that provides an opportunity to sell;
• Identify unfulfilled gaps where no offer solves the problem.

Market Scope

• Clarify the demographics (age, gender, position, etc.) and psycho-graphics (buying decisions, etc.) of the decision maker;
• Clarify how our offer provides superior value (or solves problems better, etc.) for the client;
• Build your product/service ladder (entry, basic, core, advanced) with features and pricing.

Show A.009 Building Your Value Ladder
Let's take those 3 in order

• The first level  is about a call to action (CTA.) 
• The second level or levels is where the relationship built earlier is monetized. 
• The third level is your price anchor. 

Show A.010 Pricing Strategies & Methods
​Fundamentals of Pricing

1. Market Based; 
2. Cost Plus;.

Targeted Margins per Unit

• Industry Average; 
• Competitor Average;
• Desired Margin. 

Project Volume per Product and/or Service

• Total Capacity in Unit;
• Break Even Point per Individual Products and/or Services in Units.;
• Total Capacity per Individual Products and/or Services. 

Value Ladder

• Entry Offer Price; 
• Basic Offer Price; 
• Core Offer Price; 
• Advanced Offer Price. 

Strategic Pricing

• What is the Core Offer;
• What is your pricing per unit;
• Production Mix per Individual Products and/or Services; 
• Forecast Revenue and Margins; 
• Adjust Offers, Pricing, and Production as needed. 

Next Show: ​A.012 Identifying 2020 Strategic Initiatives