So, you’re thinking of starting a business? If so, think again! Better still, check!

Before you get carried away by your ‘obviously brilliant’ idea/invention and start spending lots of time and money trying to make it a reality, take off your rose-tinted glasses and read and take seriously the following. Every business needs:

  1. A complete solution to a potential Customer’s job to be done or problem to be solved, AND
  2. Customers in sufficient numbers who recognise that they have a job to be done and agree that your solution is the best alternative (doing nothing is an alternative), AND
  3. Customers are prepared to pay the price that you need to both ensure your business’s success and to achieve your goals, AND
  4. Customers who are so pleased with your solutions, that is, the bundle of products, services, and inevitable experiences, that they are prepared to advocate on your behalf, to in effect, sell your solution for you – satisfied customers are not loyal or sufficient, you need advocates.

In summary:

  • Customers buy value (via solutions), not products and services as such, and
  • It is Customers that decide what is valuable to them.
  • We need to ensure that customer’s expectations are met or exceeded and that they have positive memorable experiences at each interaction with the product and or service.