Business owners (and aspiring business owners) seem to look inward when developing a company. But looking “inward” is not the best strategy if you want to prosper. We will be using the tools offered by Prahalad and Sawhney in Predictable Magic. Join Rick and Brandon as they examine the 19th Century Menier Chocolate company started by the Menier family in France and how they looked outward to create the greatest chocolate company of its time.
- Write down “EMPOWER” (from Predictable Magic)
- Enable your stakeholders
- Identify and maybe change your internal culture
- Map the future
- Focus on the consumer type:
- Basic?
- Artistic?
- Versatile?
- Enriched?
- Focus on the consumer type:
- Personify you Consumer
- Sketch out your consumer problems and challenges
- Own the opportunity
- Understand the Gap between the consumer emotions/desires and current industry offerings.
- Work the design process
- Create a plan of actions
- Develop new consumers
- Develop new channels
- Create new business models
- Develop an Opportunity Zone
- Identify you target personas by asking:
- Who are the right consumers?
- Who is on the fringes?
- Who is likely to change to be a consumer?
- What needs are not addressed in your industry?
- What is the consumer’s main pain point?
- Discard actions that don’t address these.
- Identify you target personas by asking:
- How does this work with your strategic and business plan?
- Create a plan of actions
- Engage emotionally
- Reward your consumer
- Enable your stakeholders
Check out this great book which will give you details of what we touched on above.
Source: Predictable Magic, Unleash the Power of Design Strategy to Transform Your Business by Deepa Prahalad and Ravi Sawhney
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