WEEK 2 -
Purpose
Passion
CORE

The two most important days in your life are the day you are born and the day you find out why. Mark Twain.png
“Your leadership purpose is who you are and what makes you distinctive. Whether you’re an entrepreneur at a start-up or the CEO of a Fortune500 company, a call center rep or a software developer, your purpose is your brand, what you’re driven to achieve, the magic that makes you tick. It’s not what you do, it’s how you do your job and why—the strengths and passions you bring to the table no matter where you’re seated. Although you may express your purpose in different ways in different contexts, it’s what everyone close to you recognizes as uniquely you and would miss most if you were gone.”
— HBR - Nick Craig & Craig Scott
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Beachhead Market

Selecting your beachhead market is critical for narrowing focus and attention to only one area of attack. Entrepreneurs have limited resources and must be very careful how these are deployed.

Focusing now on more than one segment = Increasing odds of failure.

Focusing now on one segment = Increasing odds of success

 
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Hangover Heaven and The Today Show

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PRIMARY MARKET RESEARCH ANALYSIS POINTS

  • End users: who are they, specifically?

  • Application: what will they be using your product for?

  • Benefits: what actual value do they gain?

  • Lead customers: the most influential.

  • Market characteristics: what will ease or hinder adoption of the new technology?

  • Partners and players: who do you need in order to deliver value to the customer?

  • Market size: how many customers is 100% of the market?

  • Competition: who else tries to solve the same need or problem?

  • Complementary assets required: what else does the customer need to get a full solution to his problems or needs?

 

DEMOGRAPHIC

  • gender

  • age range (or generation);

  • income range;

  • what motivates them;

  • geographic area;

  • where they live (urban, suburban, rural, nomad etc.);

  • where they work;

  • education/degrees;

  • what they fear most;

  • who their hero is;

  • where they go on vacation;

  • where they go out for dinner;

  • what newspapers they read;

  • what websites they visit;

  • what TV shows they watch;

  • why they are buying this product (savings, image, peer pressure, productivity);

  • what makes them special and identifiable;

  • what their story is.

 
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ASSIGNMENT DUE SEPTEMBER 21st:

Read Chapter 8 (Art of the start: The art of Evangelizing) ANSWER Core Question and complete your 3/8/30 Second

• 3/8/30

• DEFINE YOUR CORE

Defining your Core is more inward-looking and less customer research-based than the other steps. You will rely on this internal introspection, combined with external data gathering and analysis. While the process may seem broad and general at first, your end definition of your Core should be concrete and specific and expands on while at the same time informing your 3/8/30. Defining your Core is not easy. It cannot stay at an abstract intellectual level. To come up with a tangible answer to this riddle you must integrate many different considerations: What the customer wants. What assets you have. What you really like to do. What others outside your company can do. What the personal and financial goals of the owners are.