We’re almost there on showing a complete roadmap for profitability, which has been proven to double profits safely, sustainably, and with integrity within one year, in less time than most executives spend on email.
When you have powerful insights, the 5 R’s for proactively managing customer profitability, a way to obliterate costs that should never even be in your business in the first place, and the confidence to fearlessly price for all the value you create, you’ll finally see that take-it-to-the-bank profitable growth that reflects all your hard work.
Don’t Get Stuck Saying “We Should Have Thought Of That” When A Competitor Launches Something New!
When was the last time you did something that truly made your market and your competitors sit up and take notice? When was the last time that you quietly added significant value that delighted a customer yet was so stealthy that your competitors didn’t even catch on? Both of those are innovative.
More often than not, the secret is not to invent new products or services, but to innovate by creating either more experiential value or more emotional value within your existing offerings.
If you’ve ever fallen in love with a beautiful car or the smell of the leather seats, you know that buying decisions are made first on the basis of emotion and only the functional elements are used to justify the price and the purchase.
Experiential and emotional ways of adding value can be successfully brought to market quickly and easily as low-risk, low-cost forms of innovation, based on nothing more than a deep understanding of your customers’ needs and wants. Then, use your ability to creatively apply what you know best about your business to save them time, save them money, solve the problem they’ve presented, create a feel good, or provide peace of mind. In fact, the last two are the most powerful, because feel goods and peace of mind are almost impossible for your competitors to copy.
The best way to understand the full scope of the options to innovate is to pick up a copy of my book, Profit in Plain Sight: The Proven Leadership Path to Profit, Passion and Growth. You’ll find two eye-opening frameworks for innovation, tons of examples of how Apple has applied each of them repeatedly, and some extra video training resources with dozens of examples, including how I’ve applied them to my consulting practice. For about $9 for the Kindle and under $25 for the book, this is one of the best investments you’ll make in your business all year.
Innovate No Matter Your Market!
If you’re stuck in the “mature market” segment of the standard product lifecycle curve, you’ll uncover new ways to rejuvenate your business models and serve new markets by creating improved experiential value, instead of feeling stuck in the “commodity” space where your margins are constantly squeezed for discounts.
If you have a lot of legacy products, you’ll find eight new ways to add value in low-risk, low-cost ways and make them more attractive from both a functional and emotional aspect, which is often the trigger that makes customers feel truly passionate about your products or services.
Value-add innovation is timeless and classic, and that’s why it works for companies large and small.
Don’t settle for high-risk, high-cost attempts to invent when you could be leveraging the deep insights your customers don’t even know they possess to drive low-risk, low-cost innovation, and profitable growth.
You’ll never discover those insights using conventional focus groups, market research or surveys. You have to get inside their heads in a value-add way face-to-face, and you can do it in about 90 minutes once per week – less time than you spend on email.