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What Is Your Business?

In what businesses are Dyson and IBM?


If you answered "air movement" and "consulting" then you get a gold star.


Look at Dyson's product line–vacuum cleaners, hair dryers, hand dryers, and fans. The only commonality is the technology. They are a technology driven company–air movement and handling–not a vacuum cleaner company.


If you were born before 1990 you might remember IBM as a powerhouse in computing hardware. First with "mainframes" and then with personal computers and laptops. Today, they are consulting powerhouse. They pivoted.


Now, think of your business. Dig deep. What business are you in? Do you sell hardware or use the hardware to provide a larger service? Are you a retailer but find that your sales associates are spending a great deal of time advising your customers on the best products for their application? Maybe you should offer paid advisory services too.


Last week, I took my car to a Firestone service center for a brake inspection. When I asked about the cost, the manager said "we are in the safety business, so the inspection is free of charge."


What is your business?


If you want some ideas to dramatically improve your product strategy and commercialization , let’s talk.


Doug


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©2021 by Doug Ringer. All Rights Reserved.

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