How to grow a business
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Transcript of How to grow a business
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How to build a business(In two easy steps)
Jason Dunstone - Founder + MD Square HolesTwitter / LinkedIn @jasondunstone
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Shoshin ( )
"In the beginner's mind there are many possibilities, in the expert's mind there are few."
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“On a state by state basis, NSW and Victoria remain the most resilient in terms of business conditions, while conditions in WA and SA remain negative.” NAB 3
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“The Online Shopping industry is in the growth stage of its life cycle. Over
the 10 years through 2020-21, industry value added is expected to increase by an annualised 10.2%, compared
with real GDP growth of 2.6% annualised over the same period. This suggests that the industry is growing at a significantly faster rate than the
Australian economy.” IBISWorld4
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After decades of consumer research and helping businesses big and small to grow, I
have discovered the secret.
The two steps to building a business …
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1. You will need a product (or service) a sufficient number need or want.
2. You will need to sell a sufficient dollar value of product (or service) profitably
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Step 1: The product
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Value
Product
Quality clarity
Brand reputation
Customer experience
Overall value
Price and bundling
A good product clearly articulates its value
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Step 2: Selling the product
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Relationships
Sales
Brand visibility
Value demonstration
Overall relationships
Lead conversion
Customer advocacy
Selling is about good relationships
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VisibilityDemonstrationUsageAdvocacy
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Growth
Innovation
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Improved products / services
Tribe / community building
New ways to convert sales
Self-selling product
Broader context / trend understanding
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4
5
2
1
3
Innovation is about growth
Sales Product
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Does your product sell itself?
Freemium models
Referral programs
Repeat purchase
Review sites
NPS scores
Innovation
Sales Product
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Do you have a ‘tribe’ willing to back you?
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So, where are your priorities?
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Value
Growth
Relationships
Innovation
Sales Product
Brand visibility
Value demonstration
Overall relationships
Improved products / services (3)
Tribe / community building (4)
New ways to convert sales (2)
Quality clarity
Brand reputation
Customer experience
Overall value
Price and bundling
Self-selling product (5)
Broader context / trend understanding (1)
Lead conversion
Customer advocacy
Maximum 150
Total:
Insert score into each circle (and star) out of 10 as to how you believe your business is performing. Sum 5 numbers and insert into associated small square. Sum three small squares into large yellow square.
2 3
5
1
4
1800 038 257 squareholes.com
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How to use market research to build a business
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Value
Growth
Relationships
Brand / media healthComms dev + testing
Customer need studies
New product development researchProduct + sales innovation
Path to purchase mapping
Product dev + testingReputation audit
User experience mapping
‘Value’ mappingChoice modelling
Customer innovation studies
Primary and secondary research
Sales conversion studiesNPS modelling
Market research insight tools…
EthnographySemiotics
Focus groups
SurveysData and analytics
Market analysis
Problem solvingEvidence based stories
Demand modellingFinancial modelling
Innovation
Sales Product
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1.Problem
2.Insight3.Ideas
4.Agility
How to grow a business
Grow reputation
Grow revenue + profit
“It’s tough!”
Market research
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Fail fast - and move on.
Learn quickly - and evolve.
AgilityA
D
C
B
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Thank you :-)
0411 421 722
1800 038 257 www.squareholes.com
www.twitter.com/jasondunstone www.linkedin.com/jasondunstone [email protected]
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