“Secret recipe” of your business

I have good news for those who complain “If the market wants
something that I can’t or don’t want to provide?” This exercise
will be for you to make your business special.

We already know how much it’s important to meet the needs of
your customers, and even more critical to satisfying the priority
need of your Persona. But we know examples such as Steve
Jobs who felt confident to tell customers what they need. It
excites when a businessman foresees the potential needs of
the market, creates a totally new need, or beats all competitors
with an innovative product.

It’s not a secret that people sometimes want to eat out fast
and at a decent price, that is why there are multiple fast foods
cafes scattered everywhere – they all satisfy the specific need of
the market. And, my question here is why do you know
nothing about them, but do know about McDonalds?

Is it tastier? Better operational efficiency? Prices? Menu?
Wait a second, what is at the core of Mcdonald’s business?
Let me assume that the company you can find in every corner
of the world manages to satisfy your expectations at the same
level no matter if you buy your De Lux burger in Paris or in
Spain. The burger, the service, and the environment will be at the
same level.

So, we can say that at the core of this business is “a
customers get what they expect to get”.

The good thing about this “secret recipe” exercise is that you
don’t need to ask people, experts, or the market. All you need is just
to take a cup of coffee, embrace all you insights you got from
research before, and deeply think about what one specific you would
put at the core of your business that resonates with you and
the market?

Something that will make customers leave competitors and
be obsessed with your product?

It could be anything: low price, unforgettable service, excellent
quality. But don’t mix it up with market entry strategy. You can
choose to enter the market with a low price, selling lemonades
and when the market gets addicted to your beverage, sell
an upgraded version at a higher price. The price is just a strategy,
the “secret recipe” is an addictive taste that captures the market.

It also can happen that you defined the core of your business
but later changed it, getting more market insights.