I’m reading up on my articles this week in the Strategy course, and one of the readings is about how to shape your company’s culture. The article speaks to not just looking for a gap in the marketplace, looking at what competitors are weak at, and then seeking to go to market by identifying a gap. This article says to forget all about looking at what others do poorly, and focus on what you do better and have that meld into your strategy and organizational structure.
So in terms of propositions of how you can actually make money, there are three aspects. The first, the value proposition that you create for your buyers so they spend their cash on your product. The second, is the profit that you seek as a result of the value proposition that you deliver to buyers. The third and last aspect is the people – to motivate your employees so they can set the wheels in motion. By this we mean implementation and the quality of execution. That’s where most companies fail. They have grand visions, and missions at the top but they seem to forget the employees down at the bottom. This is not only foolish, but it’s also bad for your business. The little people, as I like to call them, are those who are meeting with your buyers face to face, selling your product, making sure your products hit the shelves, and collect payments. Don’t ignore the little people!