Development of a value proposition - a hypothesis about how you will help the customer to an experience that they will value.Selection of a precisely defined group or cohort of customers as your audience, with continuous development of ever deeper and more detailed understanding of their subjective preferences.Obsessive and total focus on the customer - identifying them, understanding them, letting them lead the process of value creation.It’s hard to get one’s head around just how different this approach is. In the framework of the ABM, we would say: there is something about some customers’ desired experiences that makes facilitating them more profitable than other customers’ desired experiences. For example, a popular book on business modelsi makes this statement: there is something about some firms that makes them more profitable than their rivals. This is a very different premise than we are traditionally taught at business school or even in the everyday language of business discussion. The entrepreneur isn’t even present when value is created. It’s an experience that customers evaluate after the fact against their expectations. The customer (in both B2C and B2B models) creates value. This understanding changes everything: its implications ripple through the entire model from the beginning and throughout all phases. The foundation of the Austrian Business Model is a deep understanding of subjective value. Value dynamics - agility in continuously refining the value proposition.
Understanding and defining subjective value.The model can be expressed as 4 core components for the entrepreneur:
0 kommentar(er)
