What was covered?
We explored product, positioning and distribution.
More specifically we gave these a context:
- Your product must developed with your target customers in mind,
- Positioning should be created not accepted,
- Working with the right strategic partners enables you to effectively distribute your products.
These 3 elements help form the foundation of any business and by aligning them you can begin to create a strong product offering.
The image opposite highlights where they sit in our unique business workbook system.
The Free Gift
Below is a summary of the concepts we explored with the corresponding visuals, this content is normally reserved for coaching clients.
A tough market it is not the time to spend heavily on new product development, instead we should consider what we already have and innovate it to meet our existing customers or develop new market channels.
For example, the wholesale baker developing a B2C offering using their existing B2B stock holding.
- What is our core offering?
- What did our customers want before lockdown?
- How can we re-package our products without diluting our brand?
Positioning is all about a ‘strategic choice of focus’, putting yourself at the forefront of your target customer’s mind.
For example, what is the world’s best selling soft drink? The 2nd? The 3rd? The 4th…..
- Who is your market?
- What is your product?
- How do you deliver?
- What value are you providing?
The concept is that you can sell more product by partnering with businesses who already serve your target marker.
For example, Coca Cola sold over $31bn of drinks in 2018, none of these were sold directly by Coca Cola. They are all held and fulfilled by businesses who specalise in selling food and drink to customers; supermarkets, bars, restaurants etc.
Having defined your market as yourself:
- Where do they shop?
- Where are they interacting?
- Who else is talking to this market?
- Which complimentary businesses serve this market?
Bread & Jam Workshop
Creating a product focused strategy
We are hosting a online workshop with Bread & Jam on Thursday 14th May to help you create a strategy to thrive in these unusual times.
This session is limited to 12 people are will last 2 1/2 hours, the cost is £45+vat.
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The Start-Up Catalyst
With this in mind, we have developed two products to support you:
KickstartGet your business workbook
- Step 1. Online coaching session to explore your vision.
- Step 2. Get your ideas on paper.
- Step 3. Introduction to the workbook concept.
- Step 4. Your vision translated into a bespoke workbook.
Gowth Hack ProgrammeIntroduction to business coaching
- A coaching programme developed for early phase businesses.
- Strategic business review.
- Regular online coaching sessions.
- No contractual committment.
- Flexible sessions designed for you.
Andy’s previous experience, combined with the Stages growth model he’s talked me through has really helped me understand and focus on future growth activities. I think his advice can have an impact on business performance and growth in real terms.