stages of development - International Business Growth Radio Network

SHOW & CHAPTER 38: NEVER BUILD ON SPEC - FIND A PARTNER - WILLIAM EASTMAN

7/6/2022

Products and services are designed and developed to meet specific customer specifications which ensures a better solution to market quiCker at a lower costs, plus the initial offer is usUally presold.

Co-development is when businesses include outsiders in the ideation and development process. Most companies keep new products and processes strictly internal; some even work hard to keep them secret.

Show Objective

EPISODE 173: Summary
In order to start the process, you need to understand the strengths and weaknesses from your perspective and the customers. Until you begin the process there is an imbalance of knowledge. The customer knows things you don't know in terms of expected results and user-friendliness, and you have the technical knowledge to convert that into an offer.

Topics:

Customer's Role
Customer Originated
Company Initiated

EPISODE 174: The Customer's Role
You can't start here. Rather this is part of a process of building trust. If you have been implementing the series of steps we have covered in the Customer track (shows 7, 23, 35), you have been building the relationship to the relationship to where this is the natural next step.

Use your periodic 'State of the Business' Report as the starting point. Discuss how to improve the relationship with customers and the opportunity will arise to move beyond how to do what you are doing better to real improvements.

Topics:

Regular Debriefing on 'State of the Relationship' Report
Improvement Recommendations in Current Relationship
Storyboard How the Product/Service is Used

EPISODE 175: Customer Originated
Today's show we are taking the conversation with customers in a natural direction. Once we have captured their recommendations beyond improving the relationship, unless it is less than satisfactory. If that is the case don't introduce anything else - fix it!

Assuming you are close with the current relationship, then take their storyboard and have them think out-of-the-box - what if we started with a clean sheet of paper?

Follow this line of thinking until you have a good idea of what their recommendations means for your business, but before you commit - move on to the next conversation - ideas you have.

Topics:

CRM/Data Based Reports on the Relationship
Suggestions for Upgrades / Improvements
New Product & Service Ideas

EPISODE 176: Company Initiated
Whether this is a separate conversation or a continuation of their ideas, present yours.

You have observed their operation, you have quality data on the relationship, researched their business and market, and their recommendations - now is the time to roll out yours. Share your out-of-the-box ideas and discuss your clean sheet of paper.

At the end of the conversation summarize what has been discussed and ask where would they like to start? Expect another meeting to formalize and begin the design process.

Topics: