REINVENTING THE OFFER - PLAY IT SAFE OR GO LONG? - WILLIAM EASTMAN

PROFIT RADIO..."Let's Grow Together"

Introduction
Today I am wearing my C Hat - Customers. That means I am running or managing people who are running marketing, sales, and service.

The second issue is the Stage of Growth. We are at Stage VI where the concern is to analyze market opportunities and manage the process to provide me with choices.

Last thought before we start, I want to invite you to my new group on our Community of Commerce - Living the Life . If you are a serial entrepreneur and looking to discuss how to build a business that runs itself so you can start running multiple businesses - this is the right spot.
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Listen>Apply>Engage
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Objectives - The WHY
I will start with a disclaimer - we are only starting the process of making a decision. In the early stages of Reinvention it is the Owners role to narrow the field down based on the following techniques. Once the list is narrowed to a few high probability winners, the results will serve as the basis for starting an agile team.

Key Issues - ​Owner/Customer Perspective:

1. Manufacturability - how easy to produce and quick to market?
2. Cost of development & production - what investment is required?
3. List of potential projects - market penetration, revenue and margin generation, expansion of markets.

What You Need to Know - The WHAT
The following issues that will help make the field of options smaller:

1. Performance below expectations - revenue and margin.
2. Performance below client expectations.
3. Based on technology that is obsolete.
4. Competitor's offer reduces or removes its market advantages.

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What You Need to Do​ - The HOW

1. Target Customers for the New offer.
2. Target Markets for the New Offer.
3. List of Potential Products/Services to Develop.
4. QFD (Quality Function Deployment) the options to determine best choice:
   1. Vx of Customer WHAT List
   2. Design Characteristics  HOW List
   3. Rate and Rank the customer wants - the WHY evaluation.
   4. Relationship between customer WHAT & organization HOW lists
      1. weak link - 1
      2. medium link - 3
      3. strong link - 5
   5. Based on 1-4, draft of build specifications.
5. Compare Lists and select based on easy of build, customer acceptance, potential growth (revenue and margin), long term market share (life cycle value).

​The purpose of this show was to cover the essentials of researching opportunities for upgrading or creating a new offer.
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Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.

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