Starting a Business - Positioning Statement Part 2 Video

Starting a Business - Positioning Statement Part 2

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Starting a Business - Positioning Statement Part 2 -

Business Tips - What if I have more than one product or service?

Starting a Business - Positioning Statement Part 2 -

Business Tips - What if I have more than one product or service?

Added: 8/3/09

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Starting a Business - Positioning Statement Part 2

Speaker: What if I have more than one product or service? David Krauskopf: If you are really sure that you have more than one product or service that you want to sell, I still advice that you start with this general positioning statement that is about your company. Then, what you need to do is for each definable product and service, you need to write what I call a sub-positioning statement for each definable product or service. Go back and go through the same process of questions that I described before to evaluate is this the right target customer and do I have it matched up with the appropriate product or service and am I convinced that is a viable entity that I can go out and sell? What I will also help you in the process will be to weigh these different products and services against each other and you will be able to do a better job of prioritizing which things you want to go after first. You really should select a low hanging fruit model. You should make sure that the first thing that you go after is the one that you add the most value and benefits to and that are the easiest to go out there in close sales. If you have several products, you can look at those products and see if there is an overlap in the target customers so you can have better marketing efficiency in talking to the target customer and an overlap in the resources you need to actually deliver on that product because if each product takes the same resources to create it or deliver it or are alterations of each other, then you can achieve an operations efficiency. But what you really want to avoid and as I said about this problem of focus is that you are going after three or four completely different target customers and each one takes a whole different method and list of resources in order to deliver on those products. You will then get bogged down and you probably will not do a very good job of servicing any one of those. So make sure, you go through that process and that you prioritize which one or two are the most easy to go out there and start selling. You get that process going then look at the next one in line and test that. So that is how I would deal with having multiple products or services for planning a positioning statement.

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Speaker: What if I have more than one product or service?
David Krauskopf: If you are really sure that you have more than one product or service that you want to sell, I still advice that you start with this general positioning statement that is about your company. Then, what you need to do is for each definable product and service, you need to write what I call a sub-positioning statement for each definable product or service. Go back and go through the same process of questions that I described before to evaluate is this the right target customer and do I have it matched up with the appropriate product or service and am I convinced that is a viable entity that I can go out and sell?
What I will also help you in the process will be to weigh these different products and services against each other and you will be able to do a better job of prioritizing which things you want to go after first. You really should select a low hanging fruit model. You should make sure that the first thing that you go after is the one that you add the most value and benefits to and that are the easiest to go out there in close sales.
If you have several products, you can look at those products and see if there is an overlap in the target customers so you can have better marketing efficiency in talking to the target customer and an overlap in the resources you need to actually deliver on that product because if each product takes the same resources to create it or deliver it or are alterations of each other, then you can achieve an operations efficiency. But what you really want to avoid and as I said about this problem of focus is that you are going after three or four completely different target customers and each one takes a whole different method and list of resources in order to deliver on those products. You will then get bogged down and you probably will not do a very good job of servicing any one of those. So make sure, you go through that process and that you prioritize which one or two are the most easy to go out there and start selling. You get that process going then look at the next one in line and test that. So that is how I would deal with having multiple products or services for planning a positioning statement.

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