How do you know the Value being Built Matches Real World Needs?

How do you identify, design and build value that matches both the purpose and priorities of your business and your intended markets? The first step is: take off the blinders.

We exist in a dynamic, fast-moving world full of risks and potential opportunities. Yet, for different reasons—time-crunched schedules, competing priorities, fragmented communications, etc—business people do not take full advantage of those opportunities. They see only what’s in front of them. Too often they focus so much on their own potential that they fail to take account of the reality out in the marketplace—missing opportunities to bring to power their competitive advantage.

To recognize and harness opportunities to design and build value you can sustain and evolve demands a worldview that goes beyond the walls of a role, a department or even a corporation. Regardless of where a company sits on the curve—a local start-up or a mature market leader—it’s important to take off the blinders to really see and understand the broader world dynamics,  and how they affect your current and future offerings. You also need to dig down deep inside your own company, to excavate the treasures—both hidden and known—that lie within your own people, processes and linkages.

As an example, a few years back, when housing prices went through the roof (excuse the pun), companies offering home design, renovation services, learning workshops and DVDs, speciality TV shows and channels, all hit the market with full force. Today, this interest has become a lucrative and booming business; and, a cultural norm among financially able homeowners and investors.

Companies who anticipated and studied how they could build new core business value around that major market shift—and  stayed connected with their customers and community of influencers—reaped the financial rewards and recognition of being a brand leader. If you are one of those leaders, bravo!