Are you starting up new?
You must be on the verge of taking the leap of faith. Ready to become a perfect juggler for your startup. Juggling between day-to-day tasks and vision of your company needs to be aligned with one another in order to be successful. There are tremendous amount of tasks you need to perform when starting new :
- Building product or services
- Creating amazing design
- Deciding pricing
- Building team
- Creating value for customers
- Delivering quality
- Supply chain
- Managing money.
Wait a second, just take a break for a moment, look back and see if you have these 3 secret ingredients in your business recipe.
You should have a perfect answer to at least one of the following 3 daunting questions. One of these aspects MUST be tightly built into the core of your idea and value proposition for you to be able to soar to the heights of unprecedented success. Without these, you cannot generate sustainable revenue either.
Ask these questions to yourself and your team before getting onto the bandwagon of your startup. I would rather suggest you ask these questions time to time, to keep the fire alight all the while and keep your vision aligned to your tasks and goals.
#1 Convenience :
Can I create convenience built into features of my product and services and does that convenience hold a true value to my customer and how much?
- You can use an app on your mobile to find nearest cab.
- Cab comes to you instead of you rubbing the soles of your shoes to reach to transport.
- With use of wallet you can just walk out of the cab at your destination without having to fight with the driver for change or a broken meters that never seem to show correct reading of distance or money.
#2 Exclusivity :
Can I ask my client to deal with me exclusively on the product / services I provide?
#3 Leverage :
Can I have a leverage over the customer that my customer has no other option but to come to me for product / services I offer?
Local electricity board OR power generation company has the unruly leverage over all of us. Don’t pay the electricity bill and you will be strangled to darkness or left to have candle light dinners everyday, if thats what you find romantic.
Apple’s fabulous design is as good as it’s leverage in value proposition. Get a Mac or iPhone, Apple gets the leverage to provide all the apps and music through App store.
Leverage gives you an opportunity to charge premium to your customer. Also makes it easy for you to scale your business rapidly.
Having all the 3 aspects in your idea makes you Google !
Google Search and Google adwords together have both Convenience and Leverage. Split second search result provides the convenience and ability of reach of google search to masses, provides a perfect platform for Adwords to have the leverage. Go elsewhere to do your online ads you will keep missing Google over and over again. Although google does not ask for exclusivity however because of convenience and leverage, exclusivity comes in built.
Don’t worry if no body has told you about this so far, keep asking these 3 questions and keep creating secret sauce of your company.
Do post your views, suggestions, comments, any specific topic you want us to cover in upcoming blogs.
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