A Self-discovery Process for Your Business
Robyn Bolton shares an article designed to identify the business you’re in.
What business are you in?”
How do you answer this all-too-common question?
Do you name the company you work for?
The industry you’re in?
The function you perform?
Bad news, your business isn’t defined by the company, the industry, and even your function.
Good news, the business you’re in is defined by your customers.
And their definition unlocks incredible potential for innovation and growth.
The 2:00 am Answer
In my first few months as an Assistant Brand Manager at P&G, I had a truly terrifying experience. Sitting in a training session, a senior executive locked eyes with me and asked, “What is Brand Equity?”
My first thought was, “you tell me, buddy. I’m the newbie here.” My second thought, and the one that came out of my mouth, was probably something straight out of a marketing textbook.
“Wrong!” he exclaimed. “Brand equity is what a consumer says if you wake them up from a dead sleep at 2:00 am and scream ‘What is [brand]?’ in their face.”
I don’t know what scared me more, being yelled at for being wrong or the idea that breaking and entering and screaming brand names at unsuspecting sleepers was suddenly part of my job description.
The 2:00 am Answer is the business you’re in
The 2:00 am answer applies to more than just brand equity.
It reveals the business you’re in.
Because it’s the Job to be Done your customers hire you to do
As the training went on, we learned how this mantra manifests in everything a brand (or company) does – its products, pricing, packaging, distribution, and marketing.
Key points include:
- Jobs to be Done
- Growth innovation
- Brand equity
Read the full article, What Business Are You In? (Hint: It’s Probably Not What You Think), on MileZero.io.