Nowadays, there are products for everything. Just have a look at your local supermarkets’ shelves. They are crowded! Still, you may not have even notice this but many products disappear after only a short period of time because their launch wasn’t successful. If you take a look at lists of product failures, such as this one here you’ll see that the products just don’t seem to correspond with the customers’ needs. And that’s a huge problem!
So, in order to avoid putting yourself in such a situation, one vital step in your product development phase should be to think about your customers’ pains and gains in order to make sure that you’re creating real value for them. And for that, the Value Proposition Canvas can be of great help!
As of yesterday, I’m back to working without the lovely Lisa and let me tell you: it felt really weird to cancel her e-mail account this morning. I guess a part of me hopes she’ll simply reappear at our co-working space out of thin air. But since that’s never going to happen, I’m thinking about hiring someone who’s talented at graphic design for +/- 20% to support me at least 1x a week.
Let me know if you know someone who know’s someone, preferably living in Switzerland!
Don’t know where to start with your letter of reference?
I wrote one today for Lisa, who will be finishing her internship at LA Preuss Consulting tomorrow. And since we worked together for 4 weeks straight, it was my pleasure to put into words how dedicated and hardworking she’s been!
Have you ever asked yourself what job(s) your product does for your customer? If not, it’s about time! We buy things in order to make our lives easier which, to put in another way, means that we buy products or hire services in order to get certain jobs done. Your washing machine cleans your clothes and, in doing so, saves you time and effort – just image you would have to do it with a washboard again! In the same way, the products or services you offer should help your customer get something done easier, to save time or effort, etc. Thinking about your offer this way will give you a whole new perspective and lead to interesting insights or possibly even product adaptation or extension.Continue reading “What’re your products’ jobs?”→
Each time a new month kicks off, I try to block an afternoon of my time to write my invoices and create performance reports for my customers. Not only do I really enjoy the math to this, as well as getting back in touch with my customers, I also love calculating my own company’s performance report.
To do so, I use so called “key performance indicators” (KPIs) and calculate what my total revenue was, as well as my total costs and how many new vs. returning customers I had. This way, I can track how my business performed in one month and easily compare it with the performance from previous months. Another benefit is that I can calculate how profitable I was and what I need to do better next month (e.g. increase revenue, cut costs, etc.)!
Hope this gave you a little insight into what you can do to measure your company’s performance. If you have any questions, don’t hesitate to leave a comment below!
It’s so important to use your personal contacts, as well as events, to connect with others and talk about your business, especially when you’re just starting out. And while some may ask you for a business card and never get back to you, others will find it interesting to know what you do for a living and either get back to you one day or tell their friends and family about you in the meantime. So just keep that in mind and use every chance you get the next time you go somewhere!!!
Yesterday, I had the best chocolate cake ever! We went to an amazing little café (Kafi Franz), sat down with two cups of coffee and when I saw the cake, I simply couldn’t resist. Flourless chocolate cake <3. It was like chocolate mousse in the form of a cake. Let me tell you, I could talk about this chocolate cake for hours. But no worries, many other exciting things happened this week besides the super delicious chocolate cake!
First of all, it’s great to see our projects progress. Friday is normally our business call day when we take clients through the current status quo of their project and define next steps. This is super helpful to keep everybody updated and able to quickly respond to changes.
Next, we started with a website design project this week. It’s amazing how quickly you can create something from scratch with the help of a template! And it’s exciting to find out what you can change and how you can shuffle things around until you have found the perfect solution. Here, you can be truly creative and present different solutions to your clients and let them pick which one they like best.
Finally, I look forward to next week! As it’s the start of a new month, we’ll need to prepare bills and reports in order to deliver insights and help further optimize our customers’ online presence.
In line with yesterday’s strategy talk post, Lisa & I spent the afternoon coming up with a vision (“Empowering SMBs to make full use of the digital age”), mission (“Showing SMBs the potential of digital marketing and helping them exploit these opportunities by providing a holistic solution”) and strategy (“Spreading the news and constantly updating LA Preuss Consulting’s services to match the individual needs of SMBs”). Continue reading “Strategy in Practice”→
As you can see, strategy seems to be a buzzword these days. But before we continue with our strategy talk, I want to make sure that we’re all on the same page and know what strategy even means. Watkins has published an interesting article in which he nicely defines “business strategy” as “a set of guiding principles that, when communicated and adopted in the organization, generates a desired pattern of decision making”. In other words, a strategy is something like a compass or navigation system that shows you which direction to take to, ultimately, accomplish your desired objective. Plus, besides having a “compass”, there is more you need for establishing a successful business.