LUAN and BRAD (FULFIL CONSULTING) presented a lively and informative session on “How to succeed by understanding what your customers love.”
It was a brilliant presentation. They encourage entrepreneurs to join them to see the South African Economy THRIVE as businesses everywhere FULFIL their purpose.
We were challenged – WHAT DO YOU DO THAT YOU WOULD CONTINUE DOING EVEN IF NO ONE PAID YOU FOR IT?!
What you do instinctively is what your business should be about and is your “Sweet Spot”.
Your Sweet Spot is a combination of what you are especially skilled to do, what you love to do and that produces reward – not only for profit but for impact.
We need to create value and eliminate waste which is anything for which the customer is not paying for. It is important to visulaise your business processes so that you and your team can see where you create value and where waste is being generated that can be minimised or eliminated. If waste is measured and made visible it is easier to find the solution.
In summary, improving one’s business and profitability cannot be done without understanding your sweet spot and your customer’s needs and perception of the value of your offering. Too often we make the mistake of trying to sell to the customer what we have to sell rather than what the customer needs.
We need to constantly work at understanding what the customer values enough to be willing to pay for.
Internal customers (employees) need to be taken care of first. Involve everyone in your team. People thrive when they are valued and appreciated. If we take care of our employees, they will take care of our customers.