What’s The Big Idea? Time Allocated: 1 hour Lecture Session: 30 mins Workshop Session: 30 mins Presentation: Available Online Worksheet: Available Online This session focuses on the student’s idea and how to bring this into a clear understanding which can be communicated to others. The session is split into equally into a lecture and a workshop. The key elements on the lecture are: What is your product or service? This covers how to describe your product or service proposition succinctly. The key consideration are: How is the proposition anchored in a real market opportunity? The specific benefits and value to a customer. How these benefits can be demonstrated and measured. Why your customer will buy from you on an on-going basis. The distinctive advantages of your product/service and why it is a potential winner. Vision How to describe where you are going. Where do you want to be in the long-term future? Pick a significant future date or milestone in your life and describe what your business will look like. Be specific. (vivid description). 10-30- year Big Hairy Audacious Goal (BHAG) A BHAG is a Big Hairy Audacious Goal. BHAGS were coined by James Collins and Jerry Porras in Built To Last , a book in which the authors analyze companies who successfully defined the industry standard for their products (like Ford, Sony, Nordstrom, Wal-Mart, IBM) and their less visionary (but frequently economically successful) counterparts (like General Motors, Texas Instruments, and so on) and then suggest what qualities make visionary companies visionary. In Built To Last , Collins and Porras outline a number of characteristics that they find shared among these successful visionaries. One of the key characteristics they found was that the visionaries used ambitious, seemingly unattainable goals to motivate their work. Whatever your own stance on business and what we can learn from for-profit practice, leave that aside for a minute. This workshop is not the place to debate the merits of this idea or the book. Rather, we can take this simple idea and explore it as a way to set our own inspiring goals. These kinds of goals can help our own service efforts, organizations, or campus experience. Mission Describe what you are going to do to achieve your vision. What business are you in? What do your customers value about your business? What do they really pay you for? Values Describe how you will conduct yourself on the way to your vision How do you do business? What are your beliefs, morals or ethics? Value proposition is a description of the customer problem, the solution that addresses the problem, and the value of this solution from the customer's perspective. Objectives and goals Objectives - Where are you going with your business in the short/medium term? Goals - How will you know when you’ve got there? The student Worksheet is: The proposition (Succinct description of the product/service proposition - max 20 words) Vision (Where do you want to be in the long-term future?) Mission (What business are you in?) Values (How do you do business?) Objectives and goals (Where are you going? How will you know when you’ve got there?)
Succinctly describe your product or service proposition.
How is the proposition anchored in a real market opportunity?
The specific benefits and value to a customer.
How these benefits can be demonstrated and measured.
Why your customer will buy from you on an on-going basis.
The distinctive advantages of your product/service and why it is a potential winner.
Vision Describe where you are going Where do you want to be in the long-term future? Pick a significant future date or milestone in your life and describe what your business will look like. Be specific. (vivid description) 10-30- year Big Hairy Audacious Goal (BHAG)
Mission Describe what you are going to do to achieve your vision What business are you in? What do your customers value about your business? What do they really pay you for?
Values Describe how you will conduct yourself on the way to your vision How do you do business? What are your beliefs, morals or ethics?
Objectives and goals Objectives Where are you going with your business in the short/medium term? Goals How will you know when you’ve got there?
G - Guerrilla For us remember these three things: Research, research, research.
The power of market research: Have you asked the people what they want? A friend of mine has an idea for a good food restaurant. This restaurant cooked food, beautiful food, from every corner of the world. His idea was that everyone loved food, everyone loved every type of food. And he would serve every type of food for them. You would have a Japanese starter, a Mexican main and an English desert. Not only this but everyone would go to his restaurant.
How else can we market research? Today more than at any other time we can use the web to research. Have you researched your keywords? Have you researched your trends and looked into insights? Have you been listening to trends happening? How can we listen to trends? Are you listening to the tweets of the world? Do you know of the power Blogs or bloggers in your idea’s industry? Are you prepared to listen and adapt your business / service / product?
How can we use personal impact? Is it really about just shock tactics? How could some guerrilla tactics actually back fire? Isn’t it more about positive personal impressions? How much are you potential customers worth to you? Can you work out the potential lifetime value? Perhaps it’s annual value? Perhaps it’s one off value - how much should you try to woo them? How many times must we talk to someone to make them understand?
Love must have patience. How many times would you have to tell someone you love them? Strange question – but one you might remember. How much does your target demographic remember you? How many messages from branding do we get everyday? How many steps must your chosen customer take? Who else is playing for their heart? How many different strategies do you have at the moment? How many more do you think you might need?
To be informed, to learn something new, to cherish, to be better than other people.
To feel empathy, to feel part of something, to not be alone, to not be in pain, to be happy….
Use all emotions you can, unashamedly, as with these emotions you get into the paper.
Think of any angle for your story.
How many of your Guerrilla Marketing tactics were PR stunts? They tend to be: As this is what we see ‘en masse’ No bad thing as your idea’s relationship with the press and publicity is going to be important.
People love a good photo call What image can you create which grabs the publics imagination? Which easy idea can you produce which the paparazzi will flock to?
T – Togetherness Which brands / companies / organisations are you going to use to help you? How can you maximise their leverage? How can you maximise your positive personal impact on your demographic?
So what have we learnt today? B. Branding your business E. Evolving your idea G. Guerrilla Marketing R. Relationships and your business E. E – marketing: for all your business A. Adwords: how you can use these T. Togetherness: concept partnering.
This… is the start This was just the beginning Next we are doing sales Have a 30 second stretch break.