Join UNC Kenan-Flagler Business School, our talented panelists and our moderator, Paul Wetenhall, President of Ventureprise at UNC Charlotte and UNC Kenan-Flagler alumnus (MBA 1975), as…
Entrepreneur, are your revenues climbing steadily?
June 16, 2014 at 3:06 PM
If not, and YOU are making something people want, what's the problem?
- Is it weak sales talent?
- Is it weak spends in your industry?
- Do you blame it on lackluster customer budgets?
Revenue challenges may be attributable to one, all, or none of the above. The question is - how do you know what it is? How can you discover the real problem?
And next, what do you do to fix the problem?
We are forever reminded as a startup and early growth stage development organization how important the customer discovery process is in establishing an effective business model for your company.
And we were reminded recently how critical this process is for every organization bringing new products to market, or struggling to grow their ventures. When we ask – “Why don’t more companies actually do this step to map out their sales and marketing efforts according to what their customers actually want and need and for how they will buy?” – the one answer that comes up repeatedly is - because it is really, really hard work.
So far, there is not a worthy dispute that we know of that diminishes the role of customer discovery process the most critical first step to creating an effecting business model. It just needs to get done!
Customer discoverY/Business model canvas tools
Established, innovation-driven entrepreneurs are looking to the best, leanest methods that successful companies are using to help them examine everything about their business and make informed decisions to move forward. The emphasis on business model and the notion that it’s ok, maybe even imperative, to pivot, is essential to success.