One of the most difficult things we face when figuring out our futures in business is knowing what to do next. And when moving forward, you want to head in a direction that is innovative and inspiring. You want to discover how you can take the current state of your business and promote reciprocity that is grounded in a right-of-way that you already possess.
But how do you recognize what this right-of-way for you and your business is?
To uncover your right-of-way, you need to look beyond your day-to-day operations and develop a deep and comprehensive understanding of your business. If you want to create new and exciting possibilities, you need to open up your mind and eyes to see its potential.
Here are the 3 stages to uncovering your right-of-way:
Stage 1: Determine your core business
Every business has a core; it is what makes up two-thirds of your total company. What is your primary area or activity that your company was founded on?
What is the focus of your business operations? Every business typically has one or two major product lines. By identifying your core business area, you can open up to developing new areas of activity when new business opportunities arise.
Stage 2: Develop new areas of activity
If your core business is selling cupcakes, a new line of business could be teaching cupcake decorating classes or selling the ingredients and tools. Not only do you sell the end-product, but you teach the skills and are a supplier for the materials.
Reinventing your business as a service allows you to dominate the industry by offering something above and beyond what everyone else is doing. And because of it, your business is perceived as an authority in the industry.
Stage 3: Reinvent your business as an experience
The modern marketer knows that today’s customers crave experiences. Because of this, how products are created, delivered, and marketed has been reinvented. This means something different to different industries and organizations, but ultimately, it’s about going beyond your product or service. It’s about motivating people to buy something because of the experience it promises.
In this digital age, it means embracing that technology may dictate your next moves. Today’s consumers are seeking for purchasing experiences that they can document, amplify, and share.
Uncovering your right-of-way involves recognizing that your business is in actuality composed of three core lines of business – product, service, and experience. Each has the potential to grow your business significantly.
I believe that I can help you take a deeper look into your business so that you can start taking the next steps to making your business grow. Together, we can create a clear strategy with singularity of purpose so that you can outperform competitors by out maneuvering them in the marketplace. We’ll help you take supremacy of your industry. If that sounds good to you, let’s connect: https://meetme.so/GregNichvalodoff
