Leadership consultant Larry Prince created a series of questions designed for business owners to help assess their company’s readiness for growth. In our last blog post we discussed the first question to ask yourself as a business owner – is there a market need? This week we discuss the second question of the series.
Your Brand, Value & Positioning
Is what you offer designed and positioned to meet this market need?
Clear Value Proposition: Is your value proposition differentiated and evident in terms of quality and price? Knowing your unique selling points is critical in positioning your product effectively.
Understanding the Buyer: Can your potential customers easily grasp how your product or service satisfies their needs? Clarity is key.
Price Point Perception: Is your product or service priced appropriately? It’s not just about what the market needs, but also what it’s willing to pay. Understanding the highest price your product or service can command without deterring customers is a delicate balance that requires market insight.
Each “yes” to these considerations doesn’t just mark a checkpoint; it lowers the barriers to entry and propels your business closer to successful growth. If these first two keys are aligned with your current strategy, you’re on the path to readiness. Stay tuned for the remaining keys to ensure your growth is not just a possibility but a well-charted plan for success.
Our Strategy First Process can help your company strategize a path to growth. I’m happy to chat with you to see if it is a good fit for your company.