Happened upon this statement in a post today:
The railroad tycoons thought they were in the business of railroads when they were really in the business of transport—they were myopically product focused instead of being customer focused.
I’ve heard this before, but it’s a good reminder to think about. What is your business really in the business of? Not the item you make, and not what people say they bought. What do you really deliver? Because ultimately, that is what people are buying.
Have you defined what business you are in?
Reminds me of a line I have used in many presentations:
“People don’t buy quarter-inch drill bits. They buy quarter-inch holes.”
Same premise yes, and oh so smart!