Lean Start-ups are used for developing products and businesses based on ‘validated learning’, getting customer feedback quickly and often. It was introduced by Eric Ries during 2011 (1) with the objective to eliminate uncertainty in the product development process. Since then, this practice has transformed the way companies are developed (Natasha Hussein, Entrepreneur).
Most astonishingly was the news that Lean start-ups have made business plans redundant. Indeed, a whole industry has grown up around the idea that business plans are now no longer necessary, says David Ehrenberg, Young Entrepreneur Council in the Chicago Tribune.
Continue reading Lean Start-ups and Business Plans
Customer centricity means that retailers should align products and services with the needs of their most valuable customers 1. Said Peter Drucker more than 50 years ago: “it is the customer who determines what a business is, what it produces, and whether it will prosper.”
Continue reading Customer Centricity – Now is the Opportunity to know your Customers Better
I’m not aware of one retailer that does his/her business without customers. Indeed, retailers that have plenty of loyal customers enjoy a competitive advantage and are doing well. So, how do they do it? Retailers with a clear and effective value proposition at least know who their customers are, what they want and need and why are they coming back. Above all, retail customers can also be found online…
Continue reading The Value Proposition for Bricks and Clicks Retailers
The way forward for retail is Bricks and Clicks (doing business in a shop and online). In an article earlier this year Justin Taylor head of EMEA retail trying to console Bricks and Mortar (physical stores) retailers said: “despite the impact of e-commerce, physical stores remain a cornerstone of consumer engagement”.
The question that remains to be answered is: Why is online retail growing worldwide and, at the same time, Bricks and Mortar retailers that are not engaging their customers online are closing down?
Continue reading Bricks and Clicks Retailers – the Best of Both Worlds
Many companies still believe that their customers exchange money for products that they offer. You rather should offer value to your customers…
Continue reading Offering Value to Your Customers