Your Market Focus and Priorities
Many, if not most, businesses create a product, service, or technology, then go looking for customers. In other words, they create a solution and then look for the problem. Whether you are starting a business or want to grow your existing business, you must identify new opportunities. Those opportunities begin with identifying unmet needs and prospects that are willing and able to purchase solutions at price that includes profit.
The foundation of your business success is the ability to seek out new opportunities or in some instances create those opportunities by disrupting the marketplace. From the foundation, you build your business, its operations, market solution, and the ability to execute.
Build Toward Your Financial Results
Financial results (Revenue, Profits, and Cash) are generated when you successfully provide value to your customers. If the customer doesn’t perceive value in your solution or they can’t find you, then you have to change your business to get different results.
Your business’s strength is built by having the fundamentals defined, the processes in place, and a strategy for success. Business growth requires that certain key elements, C.O.R.E.℠ elements, be in place to enable profitability and growth. So your business needs to put in place the key elements from the start. The C.O.R.E.℠ Business System priority sequence enables you to build a foundation for growth from day one through the life of your business. Using this sequence, you will be able to adapt to market changes, the needs of your customers, and identify new opportunities when needed just by following these steps.
From the Foundation Up
The C.O.R.E. Business System℠
All the C.O.R.E. Business System℠ elements work together to create the ability to build a successful, profitable business is the capacity to identify a problem to solve, find the customers who have that problem, and then address the problem for them.
In the beginning (or when you need to transform your business), you will focus on the C.O.R.E. Genesis℠ components. The C.O.R.E. Genesis℠ program focuses your team on those fundamentals during the start-up process. C.O.R.E. Genesis℠ is also used during a business redesign to enable us to restructure and realign the business to improve effectiveness (reach the customer) and efficient (maximize resource utilization).
C.O.R.E. Genesis℠ focuses on:
- The Business Concept,
- The Market Opportunity,
- Resources Acquisition and Allocation, and
- The Business Entity.
Once you have defined your C.O.R.E. Genesis℠ elements, you need to translate them into actionable items.
C.O.R.E. S.T.A.R.T.℠ guides your team from the conceptual to an actionable plan.
With your strategic plan, you move to focus on C.O.R.E. Growth℠.
C.O.R.E. Growth ℠ is all about how you do business and the outcomes of doing business:
- The Customer
- Your Operations
- Targeted Results
- Your Execution
Ultimately, every business owner wants the value of the business to grow. What they may not realize is that the value a buyer places on the business may be much less than desired. There are many factors in creating business value. FOCUS defines those elements along four dimensions:
- Viability – market potential
- Capability – the ability to do business (get the customers)
- Credibility – how the business is viewed, the results the business generates for the customer and the business
- Visibility – how well-positioned the business is to compete