The Next Big Thing: Building an Industry instead of a Single Product (or Service).
The Next Big Thing: Building an Industry instead of a Single Product (or Service).
An alternative route to growing a business is to build your idea upon a preexisting set of behavior events that the consumer is already engaged in, and innovate the experience in a way that is more satisfying.
Let me give you some examples:
Starbucks: Consumers already drank coffee when Starbucks came along. In fact, drinking coffee was part of our culture. What Starbucks did was step into the behavior of the consumer and altered the experience to be more satisfying. Instead of selling another coffee brand, they created an industry around the coffee and the experience. They not only sold coffee, they sold pastries and other items but more importantly, they sold the franchise that catapulted the company into a multimillion-dollar enterprise.
The iPod: Nice gadget yes, but instead of selling another device, Apple sold a system: a new method of doing something consumers did already; finding, evaluating, selecting, listening, storing and of course playing music. Instead of just a single product, they created a sub-industry that encompassed all of the experiences of music interaction.
Kennedy’s All-American Barber Club™: Kennedy’s is our venture into building onto what the consumer is already doing -- getting a haircut. A small group of us joined “the club” to change the experience of getting a haircut from a perfunctory one, to a positive experience we actually looked forward to. The consumer client is going through the process anyway, so why not change the process so that it is now something relaxing, enjoyable and, hopefully, habit forming? It is no longer just getting a haircut -- it is a way of living.
What groups of existing behavior can you build upon to change the experience in such a way that it eliminates the issue of price and time?
Think about these everyday behaviors:
Exercise/workout
Eating
Grooming/brushing teeth
Paying bills
House chores
Dating
Commuting
Medical attention
Dental
Legal
Buying a house
Investing
Insurance
Medicine
Grocery shopping
Worship
. . . and many, many more. If you can discover alternatives to all patterns of behavior (including sub-patterns), that save time, or create a more enjoyable experience for the consumer,, the experience will lead to a new business system that offers immense opportunity.
The Next Big Thing Building an Industry instead of a Single Product or Service - To learn more about this author, visit JW Dicks's Website.
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Sometimes we all fall into the trap of building a better mousetrap: a “thing” or a single “service” we hope people will beat a path to our door to discover. All too often, however, the result is that we spend lots of time, money and energy only to find the consumer really didn’t want our hot idea. This process although entrepreneurial, is a path to frustration and a pattern from which to break free.
An alternative route to growing a business is to build your idea upon a preexisting set of behavior events that the consumer is already engaged in, and innovate the experience in a way that is more satisfying.
Let me give you some examples:
Starbucks: Consumers already drank coffee when Starbucks came along. In fact, drinking coffee was part of our culture. What Starbucks did was step into the behavior of the consumer and altered the experience to be more satisfying. Instead of selling another coffee brand, they created an industry around the coffee and the experience. They not only sold coffee, they sold pastries and other items but more importantly, they sold the franchise that catapulted the company into a multimillion-dollar enterprise.
The iPod: Nice gadget yes, but instead of selling another device, Apple sold a system: a new method of doing something consumers did already; finding, evaluating, selecting, listening, storing and of course playing music. Instead of just a single product, they created a sub-industry that encompassed all of the experiences of music interaction.
Kennedy’s All-American Barber Club™: Kennedy’s is our venture into building onto what the consumer is already doing -- getting a haircut. A small group of us joined “the club” to change the experience of getting a haircut from a perfunctory one, to a positive experience we actually looked forward to. The consumer client is going through the process anyway, so why not change the process so that it is now something relaxing, enjoyable and, hopefully, habit forming? It is no longer just getting a haircut -- it is a way of living.
What groups of existing behavior can you build upon to change the experience in such a way that it eliminates the issue of price and time?
Think about these everyday behaviors:
Exercise/workout
Eating
Grooming/brushing teeth
Paying bills
House chores
Dating
Commuting
Medical attention
Dental
Legal
Buying a house
Investing
Insurance
Medicine
Grocery shopping
Worship
. . . and many, many more. If you can discover alternatives to all patterns of behavior (including sub-patterns), that save time, or create a more enjoyable experience for the consumer,, the experience will lead to a new business system that offers immense opportunity.
The Next Big Thing Building an Industry instead of a Single Product or Service - To learn more about this author, visit JW Dicks's Website.
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Linda RichardsonLinda Richardson is the Founder and Executive Chairwoman of Richardson, a global sales training and performance improvement company. As a recognized leader in the industry, she has won the coveted Stevie Award for Lifetime Achievement in Sales Excellence and she was identified by Training Industry, Inc. as one of the “Top 20 Most Influential Training Professionals.” Ms. Richardson is credited with the movement to Consultative Selling and is the author of ten books on selling and sales management, including Sales Coaching — Making the Great Leap from Sales Manager to Sales Coach, and Stop Telling, Start Selling. She teaches sales and management at the Wharton Graduate School of the University of Pennsylvania and the Wharton Executive Development Center. Linda is a frequent speaker at industry and client conferences, has been published extensively in industry and training journals, and has been featured in numerous publications, including The Wall Street Journal, Forbes, Nation’s Business, Selling Power, Success, and The Conference Board Magazine. Learn more about Richardson's sales training and performance improvement solutions at http://www.richardson.com web - Visit Linda Richardson's Website |
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Dave KurlanDave Kurlan is the founder and CEO of Objective Management Group, Inc., the industry leader in sales assessments and sales force evaluations, and the CEO of David Kurlan & Associates, Inc., a consulting firm specializing in sales force development. Dave has been a top rated speaker at Inc. Magazine's Conference on Growing the Company, the Sales & Marketing Management Conference and the Gazelles Sales & Marketing Summit. He has been featured on radio and TV, including World Business Review with General Norman Schwarzkopf, in Inc. Magazine, Selling Power Magazine, Sales & Marketing Management Magazine and Incentive Magazine. He is the author of Mindless Selling and Baseline Selling – How to Become a Sales Superstar by Using What You Already Know about the Game of Baseball. He created and wrote STAR, a proprietary recruiting process for hiring great salespeople, and he writes Understanding the Sales Force, a popular business Blog and is a contributing author to The Death of 20th Century Selling and 101 Great Ways to Improve Your Life, Volume 2. - Visit Dave Kurlan's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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