As a business leader, you need to continuously reassess the relevance of your business design to the customers. Just as the best of the products become technologically obsolete, outstanding business designs also become economically obsolete. They do not now provide the same growth and economic profits they were originally designed for.
One must keep an eye on how customer needs and priorities are changing, and gauge whether the strategies are aligned to them.
Are you continuing to create substantial value for your customers and do they see you as someone who continues to offer a differentiated and unique product or service? Answering questions like why customers should continue to buy from you and arriving at your unique value proposition is key.
Not only a serious understanding about your own competencies but also a very detailed understanding of your competitor’s strengths and new offerings is necessary to build a robust strategy.
If you are an entrepreneur running a successful venture and looking to gain market share and improve your profitability simultaneously, you need a strategic partner like Think North to answer relevant questions to help you build the right business design.