Do you have a global business, or are you considering expanding or exporting? You might know that we've been travelling this past week - to the UK and Germany. One of our favourite things to do when we're in a new market or a foreign country, is to explore an ordinary activity, and ask, "what's different here"?
Above is the condiments collection at a Sainsbury's cafeteria. The breakfasts were similar, with a few different menu items (even here in Canada the big breakfast doesn't differ that much from the Full English Breakfast). But this collection of condiments was very different than what we might receive with the average cheap and cheerful breakfast here at home. Some of the things that reminded us that every market develops in response to customers, not the other way around, included:
Condiments collections are adapted to local tastes, even in quite similar jurisdictions. Payment options varied from country to country. "Contactless" - the equivalent of our debit "tap" - was popular in the UK, but didn't always work with foreign cards like ours. In Germany, debit isn't an option in most places unless you have a local account. And although many products on the shelves were easily identifiable, even under new brand names, once in awhile there were packages and presentations that completely confounded us.
So what's all this got to do with you and your customers? Just a friendly reminder, that it's about what *they* want, not about what you want to give them. Do yourself a favour, and make sure you consider the small subtleties that put the local in your global offerings. You'll be glad you did.
Does this sound familiar? For me, I’m always surprised when I hear this, although I hear it over and over again. The easiest business to start is one that solves a problem, one that people will pay to have solved. Whether that’s creating delicious homemade cakes that make the person celebrating feel extra-special, to measuring air quality and helping clients to put systems in place to improve it so they can breathe better, or even providing custom home renovation services for someone with ideas but who’s all thumbs – businesses that solve problems or challenges are simply easier to sell. That’s because you don’t need to invest as much time educating the customer as to why they would want to solve that problem in the first place. They’re already actively looking for a solution!
Of course, the next step is a bit trickier: you also need to have the wherewithal to solve the problem. If you’re not a baker, or an environmental scientist, or handy with tools and building materials, none of our examples are going to be a fit for you. So what CAN you do? This is an area where mind-mapping can come in handy. The mind-map is a great tool for capturing a lot of free-flowing, uncensored ideas. Set a timer for 15 minutes – no more. This is more work than it sounds, and by then you’ll need a break from thinking. Get yourself a large piece of paper, or a white board, or a large expanse of wall and a stack of sticky notes. Start by writing down all the things you can do, that solve problems for people. Capture everything. Don’t try and narrow it down yet. What sorts of things do people ask you to do already, because you’re good at them, or you know how to do them in a unique way, or because those same people don’t know how to do them for themselves? Keep writing. If one “job” makes you think of another, great. Write that one down too. Just keep going until the timer tells you to stop. Although it might be tough to get started, I’m pretty certain you’ll be on a roll as you move toward the end of your 15 minutes. Ideas always bring more ideas.
Now, go get a drink of water, or a cup of tea, or take a little walk. Then come back to your mind-map. It’s time to start sorting. Which ones do you really like doing? Which are you uniquely qualified to do, more than most people? And here’s the million-dollar question: which will people pay you to do? Often the things you’re best at, or that are most enjoyable, don’t obviously intersect with what customers will pay for. It’s up to you to find that intersection between work that works for you, and work that’s lucrative enough to make a living. So while I never advocate working at work you dislike every day, if something feels like a real calling, AND you feel like you’re fairly compensated for doing it, you’ll be much more likely to stick with it when your business hits its inevitable valleys.
Do you have some ideas that look like they might actually be the start of a business? Great! Next time let’s talk about ways to see whether customers really will pay what you think they’ll pay – or in more technical language, defining and validating your value proposition.
Are you planning to grow your business this year? Or do you just want to make more money from the business you're in? Those are the first two questions to explore. If you haven't already, take time today to figure out what you want, and it will help you get off on the right foot for a strong 2018. Imagine if this time next year, were busier and more successful than ever!
These are the 14 Questions that will help you get there:
If you're not into DIY, or you'd like help putting your plan together to answer one or more of these, we'd love to help. Whether you need strategic research, a facilitated strategy session, coaching, or a workshop, we're looking forward to seeing you succeed.
Never say never! Maybe you’ve tried starting a business or changing careers before, and it hasn’t worked out. Or maybe you’ve considered it, but talked yourself out of it because of your responsibilities, the risks, the time involved…who knows? One thing is for sure, unless you approach it with a plan of action, just like any other business endeavour, you’re doomed. The first part of the plan is to figure out what kind of chance you want to make. Here are five tips to get you started on the right path again:
1.Envision the future. Give yourself a long runway, maybe five years. Where would you like to be? What will you be doing? Who’s with you? What’s your message? Who’s listening? Painting a clear, detailed picture will let you get a handle on what you want and need from the change. This will help you focus on what you’ll get, and that’s important to keep yourself going when the hard parts of the change begin (because they will).
2.How did you get there? Look backward from the success you’ve achieved. What skills or talents did you use to get there? These are the tools in your toolkit that you want to use. It’s important to know whether you’ve got everything you need – or whether you’ll need to build regular learning into the picture. (Hint: if you’re not learning and stretching, you’re not thinking big enough – and it won’t feel like you’ve changed anything when you arrive).
3.Why did you want to go in the first place? Author Simon Sinek recommends that you start with “why”, and then work on what and how – but sometimes it’s difficult to get your brain around the motivation before you figure out what it is that you are motivated to do. If you’d rather start with the purpose, because you already know you want to educate kids or save kittens, go for it. Start here, then backtrack to Step One.
4.If you tried before, what didn’t work? Don’t do that. Seriously, evaluate what it was about your first effort that failed. You’ve probably done plenty of thinking about that already. Now figure out the actions and attitudes that did work – and work on those. You’ll get a much clearer picture of actions that were helpful and harmful than you had, the last time.
5.If you’ve never tried, start now. Honestly, start anywhere. Work on your business model. Interview some people in your ideal role. Profile a customer. It doesn’t matter. As soon as you break them logjam and start moving toward the change you’ve been looking for, you’ll start to pick up momentum. Make time to commit to a few steps every day, and just keep going. Eventually, it will all come together. Just dreaming about it won’t get you anywhere.
Are you experiencing a specific challenge with your new business, your dream business, or your career change? Let’s talk – or leave a comment for us, and we’ll respond.
Megann and Steve, Partners in PANOPTIKA, are working for our clients every day to help them See Everything. Here are some of the things we see.