I spared you virus buzzwords in the subject line but it’d be silly to not address how things are changing around us daily. One email that stuck out among the weird ‘letter from our CEO about how we’re handling COVID x, y, z’ sea of spam was one from J. Cornelius
at Nine Labs
. We both are from Atlanta and kinda knew each other from back when I lived there.
Recently we had a coffee in Amsterdam. He was here setting up a European entity for Nine Labs. He and his wife are keen to relocate here. So, we talked about daily life, doing business and more in The Netherlands.
Well, J. shared some great and actionable food for thought in his last newsletter and I decided to share it here to:
Here are several exercises your company should be doing right now to prepare for and respond to the new normal and be ahead of the pack.:
1. Customer Value Mapping
Map out your customers’ path using your products and services to find ways to improve or add to the value you create for them by creating a User Journey Map. How well do you understand the task they are trying to accomplish and the steps they take to do it? Overlay those steps with how your product and business model works to find gaps that can be closed, chances to remove friction, and new ways to create and capture value.
2. Find Your Adjacent Possible
Look at your organization’s skills and resources alongside current market conditions to find new ways to create and capture value. First make a bullet of things your team does well and has newly freed capacity for. Then make a list of your customers’ needs - especially any needs that are new in the wake of how the world has changed. Finally, make a list of potential ways you can address those needs using your skills and capacity to deliver. Focus your efforts on where those three lists intersect.
3. Revisit Your Value Propositions
With a new view of your Customer Journey and how you create value you can breathe new life into your Value Propositions. Use the Value Proposition Canvas to describe who your customer is and what they are trying to accomplish, then connect their pains and gains directly to the pain relievers and gain creators your product delivers.
4. Do a Tech Enablement Review
Every company has some old manual tasks or clunky processes that can be modernized. Looking at your User Journey you can spot processes that can be enhanced or replaced by technology to be more efficient, lower your operating and delivery costs, and drive productivity.
5. Double-Check Your Business Model Alignment
Unlock value by aligning your product strategy with customer goals and your business goals. Magical things can happen when business teams understand their users’ needs and wants. You can discover interesting new sources of revenue for the company while delivering more value to the customer. Now that you have an updated User Journey and Value Proposition, use the Business Model Canvas to sort out how you can increase revenue and lower your costs while providing more value to your customers.
6. Review Your Design Processes
Even teams who were already working remotely have been disrupted by these changes. Fortunately, there are tried and true methods and processes for staying connected and effective while working from anywhere. Look at how to improve your asynchronous communications so people can focus on getting things done, establish better meeting agendas to make the most of everyone’s time, and install better collaboration tools so everyone can stay connected and informed regardless of their location.
As always, thank you for reading,
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