Many business owners ask the wrong question…
How do I increase the profit/customer? or Which marketing strategy is the best? Which distribution network to use?
They don’t follow the sequence of the business (which is explained in the next part), neglecting it and jumping to other parts can results in great failure like if your product is not upgraded at that level, your employees are not efficient then scaling in such situation maximizes your loss.
And to avoid this, here’s the sequence of Business Success. If followed step-by-step and constant improvements in the process, the business will grow exponentially. So here’s it:
e) Pricing & Positioning
f) Process & Performance
a) Problem: Spend most of your time researching the visible and invisible problems of customers. Experience every step that customer follows while using your product. Talk with them, take a survey, and solve first the burning problems of your customers. Also, see who is solving those problems and how you’re solving them differently. It can be incremental or disruptive progress.
b) Prospect: Get your buyer persona on a paper. His age, interests, income, buying behavior, occupation, and everything. This will help you to launch the product according to him.
c) People: Here people means your team members. Get suggestions from them about the product, various services, and their experiences of products in the market. After taking view from everyone, take a wise decision to make the product and build the authority before launching.
d) Product: By discussing your ideas with your team and insights from the market. Launch your product accordingly and work on the immediate response of customers whatever they say. You can build a prototype to test and then launch a final product.
e) Pricing & Positioning: This step involves pricing your services and positioning them at the right place, not before nor after the correct time. Becuae identifying the market trends and taking steps accordingly can benefit you a lot.
f) Process & performance: Before moving this step, just make sure your previous process is going smoothly and solving your customer’s problem mentally. Reverse engineering is essential before moving ahead. Unnecessary scaling leads to high losses.
g) Profit: In this step, you have scaled and your business is doing fine and scaling slowly and gaining enough profits. Profit can be invested back into or into other activities like new product line, efficient training or distribution network, it’s up to you.
h) Purpose: Lastly, your WHY of the business should be clear because at the end you need to have some purpose to make all your goals align and give a direction to the company’s success. For example, Disney’s purpose is: ‘The mission of The Walt Disney Company is to entertain, inform and inspire people around the globe through the power of unparalleled storytelling, reflecting the iconic brands, creative minds, and innovative technologies that make ours the world’s premier entertainment company.” So, define a clear purpose and centralize all your efforts to it.
Business never needs major investment to start, it can start from Rs 20,00 as well. Because in today’s age you have everything like social media, experiences of a successful entrepreneur, you can leverage them and start your business with them or take help from them. For more info just hit me an email ( which you can find above)
This sequence is used by many successful businesses and you’ll never face failure in any business model by following this sequence. Thanks for reading my article and best wishes to you ahead!