Megann

Dream Big, Plan Small!

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By Friedrich Haag, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=36033096
Do you have a big idea for a new business? Big ideas are fabulous, and they can provide you with a big payoff. On the other hand, they are often also riskier, more time consuming, and require a larger investment. So what can you do?

One way to manage a big business idea, is to dream big, but to think small. Consider your idea (a new restaurant, perhaps?) and think about whether there are mini or even micro versions of that idea. Using our restaurant example, you might think about a much smaller bistro space, and figure out whether you can make a decent margin using that business model. Or for an even smaller investment, a small catering operation with a rented kitchen might get you on your way, or even a #foodtruck or #foodcart. If you can start with one of those tinier businesses and have a plan to scale, you can reduce your risk at the outset, and build as you go.

Do you have any other big ideas you’d like to shrink down to a more manageable size (or have you used this approach successfully)? We’d love to hear your story.

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How To Turn an Observation into an Insight

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“We’ve seen our customers do this a thousand times”.

So what? You’ve assembled a thousand observations. Although it is valuable evidence, this doesn’t make it an insight. Let’s dig deeper.

  1. Get the people around the table who have actually seen the customers do this a thousand times, or at least, evidence that they have. What exactly have they done? Define the action customers have taken. and make sure you all agree on the definition.
  2. Ask yourselves, what do these customers have in common? (Be sure you have a clear picture of the target).
  3. Figure out why you think they’re doing it. (Still not an insight, but getting closer: this is your hypothesis).
  4. Design an experiment or test to validate what you think. (Go beyond surveys: try it out in the same situation as the customer, or undertake depth research, or even invite them around a table to explain what you’ve observed and ask if they know why).
  5. Discuss your findings with your team and decide on the best way to use what you’ve learned that will serve your customer.
  6. Evaluate your concept with a pilot.

No matter how that turns out, there’s an actionable outcome: you’ve got answers that will let you scale the solution, or get off the wrong track. Now that’s an insight!

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Start Here for Success

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 This article was updated on January 16, 2020

“I’m buried in data. How can I make sense of it all?”
“When should I do research?”
“What’s the right way to answer these questions?”

Does any of this sound familiar? Over and over, we hear product managers, marketers, even CEOs, asking these questions. Over the past 19-plus years, we’ve helped hundreds of them get clarity by working backward from their end goal. This is the question we ask, to get started:

“What decision do you want to make?” or “What action can’t you take now, that you’ll be able to take if you have more clarity?”

Most often, if you can answer one (or both) of these, you’ll be in a much better position to map out the research you need. When you’ve answered them, you’ll know:

  1. When the decision or action must be taken (and from that, figure out how far in advance you’ll need to start the research).
  2. Whether you need to observe, have conversations, or do experiments to get the answers.
  3. What data is, and isn’t, relevant.
  4. Who needs to be involved.

You’ll be able to decide whether you can sort this out yourself, or if you need help. You’ll know if the answer needs to be quantified, with numbers (such as for a forecast), or if it needs a qualitative approach (getting your engineering team to see customers’ frustration as they try to use feature X). And you’ll waste less money, time, and effort getting something that’s useful, practical, helpful, and actionable. 

Whatever your questions, we’re happy to work with you until you see everything you need.

I’m Megann Willson, and I’m the CEO and one of the Partners here at PANOPTIKA. Our company name means “see everything”, because we work with our clients to help them see everything they need to know to make better decisions that will help them find, know, and keep customers. You can also find us on LinkedIn, Twitter, and Facebook. For weekly insights to help you make better decisions, subscribe with the orange button, below. 

 
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Give them what they want!

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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.

I’m Megann Willson, and I’m one of the partners here at PANOPTIKA. We work with you and your team to help you see everything you need to know to make better decisions, so you can find, know, and keep your best customers. You can find more content from us daily on Twitter, LinkedIn, or Facebook. And for weekly offers, recommendations, and ideas, sign up for content specially curated for you. We’ve added a button below to make it easy. 

 
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​I’d love to have my own business – if only I knew what kind of business to start!

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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.

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14 Things to Ask Now For a Better Business Year

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This is a re-post of a blog from 2018, but the advice is still worth sharing…

Are you planning to grow by starting a new business over the next 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:

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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, a speaker or a workshop, we’re looking forward to seeing you succeed. 

I’m Megann Willson, and I’m one of the partners at PANOPTIKA. We work with our clients to help them see everything they need to know to find, know, and keep customers. You can find daily content from us on Twitter, Facebook, and LinkedIn, and for weekly ideas delivered straight to your inbox, you can subscribe using the orange button, below. 

 
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Good Career, Bad Career…

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​Have you received advice that starts like this?

“All you need to do”
“You just…”
“You only have to”
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Me, too. I also get requests all the time for advice on how to live the life I do – unapologetically mine, in line with my values and priorities. And many of the people who ask those questions, are looking for answers that start with one of those three phrases. What’s the problem with that? Only this: having a great career is no easier than having a bad career. Both are work. Hard work. The good news, is that the work is worth it, if you get to have a rewarding, rich life along the way. And it’s important to realize that every day won’t be sunshine and lollipops.The truth is, no life is ever easy. We will all have struggles and setbacks. Every overnight success story has many, many steps and stumbles that led to that moment of achievement that everyone gets to see. In the world of the striver, there are always many people watching every wobble along the way…some cheering, some jeering, and some just wondering when they will just give up. 

“I wish I could work for myself like you do,” they say. “Then I’d be in control of everything.”

If you’re embarking on a journey with the vision of never being accountable to anyone else, let me let you in on one of life’s big secrets. It’s very likely at some point, that your vision is going come to a screeching halt. (Unless you want to live in a cave, on a mountaintop. In that case, have at it.)  You can be the pilot of your own destiny, that much is absolutely certain. However even the most powerful individuals in the world have responsibilities and commitments to others. Most of us want a richer, fuller life, that lets us be more, give more, share more, and enjoy more. We want to have time with our kids, or our partners, or to serve in our communities. We want to be secure in the knowledge that there will be food on the table. And we want to know that we’re able to contribute our best work, every day.

Living the life that you choose means you must make choices about where to invest your time, talent, and resources. That part isn’t a choice. It’s an obligation. To be everything you want, you can’t always do everything you want. Sometimes things won’t go your way. Families, partners, collaborators, and customers all want different things from me, and sometimes all at once. And they will from you, as well. The one thing I’ve learned (and you can, too), is that I must choose how to handle those requests. And I can live with that. Can you?

Megann Willson is one of the Partners at PANOPTIKA, where we help you see everything you need to know to make better decisions for your business and career. Need more advice? Subscribe below, and follow on Twitter, Facebook, and LinkedIn for fresh content daily.

 
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3 Powerful Words and 2 Ways to Use Them

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This is a re-blog of Megann’s post on LinkedIn in October 2017. She was preparing for an incredible journey, running for City Council. She didn’t win the election, but she learned so much, and grew her network by leaps and bounds. And that’s a prize in itself.

​“I believe you.” Have you ever experienced how much of a relief those three words are, when you’re surrounded by doubters? How you might not have even realized how much their negativity was weighing on you? At that moment, you don’t even need the supporter to do something to help the situation. They’ve done enough by simply acknowledging your truth. Many of us have experienced the empowering sensations that those three words can elicit.

What you might not have considered, is that this tiny but powerful message is also a tool you can use, two different ways. The obvious, is when it seems someone close to you is getting a lot of negative pushback on their idea, their opinion, or their statement of a situation. If what they are saying is reasonable, plausible, and they’ve given you no reason in the past to doubt their words, this is a time when you can firm the bonds of your relationship by simply using those three small words. You can do it very publicly, or you can do it quietly. Either way, believing is a valuable gift you can give someone.

The other way you can use “I believe you” is much less common. I recommend you use the statement on yourself. When you know you are right, or you have an important message to deliver, or you’re worried how your truth will be received because it might fly in the face of common practice, get yourself to a mirror. State your case. Look yourself deeply in the eye, and say it. “I believe you”. Say it until you do believe you. The results will be worth it. Believe me.

I’m Megann Willson, and I’m one of the Founders and Partners here at PANOPTIKA. We work with our clients to help them see everything they need to know, to build better, stronger businesses. If you’re looking for more practical, usable business advice, check us out on LinkedIn, Facebook, and Twitter. While you’re at it, Subscribe Here for regular updates and offers. And if you’d like to explore upcoming business coaching opportunities, call me. 

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You’ll Never Change!

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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.

I’m Megann Willson, and I’m one of the Founding Partners here at PANOPTIKA. Are you experiencing a specific challenge with your new business, or your dream business? Let’s talk. We help our clients find, know, and keep customers – so they can build strong businesses that stand the test of time. You can find more advice from us on Twitter, LinkedIn, or Facebook. Subscribe using the button below for special news and offers from us. 

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Are you looking in the wrong place for success?

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You made it! You’re on top of the world. But this isn’t where the learning happens.

Think about the most important lessons you’ve learned. Did they happen when at the moment you achieved your goal? More likely, they happened afterward, as you reflected on your struggle. You may have even had a richer learning experience when you didn’t achieve your goal. Think about all those “I’ll never make that mistake again” moments you’ve had. Win or learn, mistakes, failures, and struggles mean you will enter into the next challenge stronger and more able to deal with the difficulties you may face.

What does this tell me? That each roadblock or difficulty prepares you to be even better next time. That the reward for the journey is the journey itself. And that you’ll gain experience and confidence, no matter which path you take, or no matter how everything turns out. Now that’s something to be on top of the world about.

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