Matching Capability And Customer Demand
It goes without saying that the solutions you develop as your business offerings should satisfy a compelling need identified in your target market.
You need to do some research into what are the four or five biggest issues, problems or frustrations within your target market and craft solutions to meet these issues. Don’t try and guess what your prospects really want. Or worse still, create a service offering or product without first knowing that it has a demand and a market for it.
Offering services that you have little skill or capability in to your prospects, even if there is a demand, will end in tears – yours or the customers.
That being said, if there is a demand for a solution you can over time build the capability to deliver excellent outcomes with training, collaboration and effort.
You are always on more secure footing if your offering takes advantage of your current strong skills and abilities to deliver outcomes. Match this with a proposition that is viewed by your prospects as being of high importance, and you have a sweet spot for your business success.
The problems you solve should be within your range of capabilities, or you should have access to the capabilities.Ideally you would concentrate on your “sweet spot” – areas of crucial importance to your client, and where your capabilities are strong.
The following bars illustrate the probability of winning business based on the combination of:
- The importance of your offering in the eyes of your target market
- Your skills, resources and capabilities in delivering that offering
The bars also depict varying combinations of importance and capabilities.
High Importance & Strong Capabilities
High Importance & Weak Capabilities
Low Importance & Strong Capabilities
Low Importance & Low Capabilities
So an offering that is viewed by the prospect as low importance coupled with a low capability on your part to deliver said offering = put your energy somewhere else.
You will have better success honing existing good skills and learning new ones to meet current in demand services/products.