Brutal Truths & Key Insights – Starting point for any new business

© Tweeter Linder 2015 – All rights reserved.

© Tweeter Linder 2015 – All rights reserved.

Most business plans starts by outlining the market trends and customer needs. This model works well when your search for gradual improvements in an existing business. As you enter a new business or when a major inflection point hit you market you need a different approach.

You need to move from searching for insights instead of information when building new businesses. I suggest you start challenge yourself and your thinking by looking at two key parts of your market analysis. Trends versus Inflection Points – A trend is a broader brush view of a shift in the market telling you what is about to happen. An Inflection point is a sharp event also providing information on when something is about to happen. Understanding the inflection points shaping your business is vital for success. Information versus Insights – We receive to much information about “what” market observations. Insights take you one step further in understanding the “so what” aspects and allow you to define “Now what”. Quality insights are a better tool than information available to a broader audience.

Willie Pietersen defined a model for how you can analyze the vital markets shifts deeper. Identify the key questions and work through the following four topics:

  1. What did the past look like? A lot of answers of the future are in the past.
  2. Where do we stand today? Have we past a major shift already or is it about to come.
  3. What do everybody now about the future, i.e. Information? Just relying on this will generate me-too strategies and not a strategic differentiation.
  4. Which unique insights do you have about the future? This is hard work from own thinking. This is the best foundation for a strong strategy.

These four question types can address strategic questions of five types. Business climate, Industry Dynamics, Customers, Competitors and own realities. Answers to key strategic questions will give a good foundation for your new business.

Key questions to ask you in this area are:

  • How have we formulated the Key Strategic Questions (KSQs), where we need insights? Half of the value will come from identifying and formulating the right questions.
  • Have we articulated the Brutal Truths and Key Insights (BT&KI) so they are clear enough as a basis for our strategy? This is a job of balancing white, black and grey in our articulation of the world.
  • How often do we need to re-visit our KSQs and BT&KIs to make sure include incremental insights gains? KSQs and BT&KIs are suitable for incremental insights and learning is a step-by-step process.

This is one of the areas where you need to invest most time in understanding the main concepts. I consider all these suggestions as fundamental:

Start today to become the provider of insights in your team.

2 thoughts on “Brutal Truths & Key Insights – Starting point for any new business

  1. Pingback: Value proposition creation – set high ambitions and change development order | Tweeter Linder

  2. Pingback: Whiteboards – a cradle for business narratives and a new way to sell | Tweeter Linder

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