Wim GE De Vos

Tag: value proposition

  • Pricing 101

    “Just as you should place more emphasis on the benefits of your offering than on the features, you should think about basing the price of your offer on the benefit – not the actual cost or the amount it takes to create, manufacture, or fulfill what your are selling.” Chris Guillebeau

    Base price on benefits offered – not cost incurred.

    Rationally we get this – but how many of us small business operators actually practice this principle?

    When you do this be prepared to stand your ground, because there are always people who complain about the price being too high no matter what.

    Only the market can decide if it is too cheap or expensive – never one individual.

    note: this rule is related to the “Golden Rules of Business” addressed in a previous post.

  • Inside 1st Wave 🌊: Sell Painkillers

    Inside 1st Wave 🌊: Sell Painkillers

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    We are still inside the first wave.  Economically the situation is beyond our control, beyond our understanding. Beyond anything any of us has ever gone through with our businesses.
    But in times of stress the need to be calm, decisive and positive is higher than it has ever been.

    We control our own destiny. We decide if and how get through this wave.
    We need to get back to basics in each of our businesses.

    In previous posts we talked about Cash. And we have talked about People.

    So let us now discuss our Value Proposition under these extreme circumstances.

    Extreme short version:

    Inside the 1st wave of this shit storm.

    Sell painkillers 💊 to your existing customers.

    But only offer your most effective ones.

    The ABC of your Value Proposition for the next 4-8 weeks

    Note: You will need extreme FOCUS.
    Say yes to a few things and no to many.
    (This will serve us well in 2-3 months when trying to surf the second wave).

    A) Customer segment: existing customers.

    You have the trust (real asset right now), you have a relationship (basis of all business), you can show you truly care how they are doing.
    These are the people you can serve right now.

    note: this is NOT the time to look for new customers, segments.

    B) Needs analysis: find the pain.

    The pain right now is acute (confronted with it every day), it is very real, it is urgent to have a solution and you will find pretty universal.
    This is the equation you have to solve. Treat the pain. Now.

    note: this is NOT the time to look for demand of luxury or desires to be fulfilled.

    C) Your Offering: sell painkillers.

    Think of products & services you can offer that are effective painkillers.
    Could be networking, could be explaining how to use Zoom, could be a sound system or a TV to forget about the shit storm out there for a couple of hours.

    note: sell only the best painkillers. Focus on the pains you can relieve.

    People will remember. Make sure they remember you and how you made them feel.

    Focus on your existing customers who are in pain.

    And apply your crafts. You are as essential as you have ever been.

    Be well, be safe. ✌🏼

  • The dark horse

    The dark horse

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    Every day we choose between 3 approaches for everything we do:

    • Custom, tailor-made, one-off
    • Personalised, configured, repeatable
    • One-size-fits-all, standard, commoditised

    But when we make our choices are we consistent, smart, see them in context?

    Ask which of the 3 approaches you choose in the following cases:

    • connecting with our customers
    • drafting and sending proposals
    • delivering control or audiovisual systems
    • hire and fire
    • remuneration
    • training
    • service
    • making cars, speakers, systems,…
    • …

    I dare to think we all use far too much custom and standard approaches…

    When the personalised, configured, repeatable approach is the dark horse* in the race for success.

    Custom is overrated

    One-size-fits-all is overused

    Personalisation is the dark horse…

    Asking ourself some simple questions may have a big impact 🤜🏻 💥

    *Definition “dark horse”:
    a candidate or competitor about whom little is known but who unexpectedly wins or succeeds

  • Which ocean do you surf 🏄‍♂️? What planet are you on ?

    Blue Ocean Strategy

    Which Ocean do you surf 🏄‍♂️? *

    Screenshot 2020-01-18 at 15.04.34

     

    What planet 🌏 are you on?

    Planet Traditional: everyone is looking for the extraordinary deal.
    What matters is: price – features – status.

    Planet NEO (New Economic Order): people need to feel a connection with what they buy. It needs to represent who they are.
    What matters is: design – how things work – authenticity – who you buy from – uniqueness – discovery.

    Facts to bear in mind…

    On planet NEO the tendency is towards smaller, personal companies.

    93% of the world´s big spenders across industries live on planet NEO. 

    During the economic downturn of 2008-2012 NEO´s became more NEO and spent actually more on what really mattered to them.

    Entrepreneur, friend, surfer, boarder Ryan Gustafson shared the following explainer video with me.  Check it out and decide which planet you are on… VIDEO

    *I am a big fan of Blue Ocean Strategy: learn more here

     

  • Simplify. Everything. Always. Everywhere.

    Genesis Technologies - the art of simple
    genesis-tech.eu

    You only have a business, a real valuable business, a shot at success, if you offer to simplify something.

    Simplify. Everything. Always. Everywhere.

    the simplicity compass 🧭 
    icons over words
    less is more
    focus
    beautify when you can
    1 click
    state of flow beats thinking
    focus
    colours
    more logic
    less rules
    small teams
    focus
    deep is better than wide
    forget perfection
    choose
    to
    FOCUS
    on
    SIMPLE
    right
    NOW