11 Ways To Find A New Direction: Part 8 - Start Thinking In Three Dimensions

Jun 12 2014, 3:18am CDT | by

If you are feeling stuck for new directions, here is a simple way of moving from one dimensional to three dimensional thinking.

Any business competes on one or more of three dimensions. These are:

  1. Product and price – what you offer, and the price relative to competing sources;

  2. Service – how easy you are to deal with, which covers things like your opening hours, your location, how good you are at keeping things in stock, how rapidly and reliably you deliver;

  3. Relationships – this may be personal relationships in the case of private bankers or hairdressers, or it may be brand (brand consultants like to talk about brands as the customer’s “relationship with the product”).

The process is quite simple. The first step is to identify which dimension you currently focus on. Are you striving to be the lowest-cost, or to have the widest range? That is the first dimension. Or do you work on being easy to deal with, investing in customer service and the logistical capabilities you need to deliver rapidly and reliable?  That is the second dimension. Or do you focus on building and maintaining customer relationships and powerful brands? That is the third dimension.

Now; whatever you are doing, focus on a different dimension. If you have been striving to offer the lowest price and that hasn’t been working so well, consider raising prices and investing in customer service. If you have been spending money maintaining relationships and brands without seeing  a great return, consider the possibility that your customers care more about low prices.

Doing this will produce a whole range of alternative possibilities. Some will be absurd, but one could be a breakthrough.

For the next part of the series, follow me here or use your RSS reader to come back next week. For previous parts, see the links above.

Alastair Dryburgh is author of the forthcoming Evolve: Free Yourself From Your Inner Caveman.

 
 
 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

NASDAQ is Back at 2000 Dot-Com Bubble Level
NASDAQ is Back at 2000 Dot-Com Bubble Level
The Dot-Com force is back at the NASDAQ. It took Silicon Valley 15 years to bring back the NASDAQ to the Dot-Com Bubble Levels. With startup valuations in the billions becoming the norm, Wall Street is following up with driving up the value of public traded tech companies.
 
 
Bill Gates Tops Forbes Billionaires List Again
Bill Gates Tops Forbes Billionaires List Again
Microsoft co-founder Bill Gates is back on top of the Forbes Billionaires list.
 
 
$75,000 Apple Watch revealed
$75,000 Apple Watch revealed
When Apple's designs are not exclusive enough then there are 3rd parties who add gold and diamonds to the iGadget to make them precious. Brikk announced the Lux Watch, a diamond studded version of the Apple Watch.
 
 
Sony will not Sell Off TV And Mobile Spinoffs
Sony will not Sell Off TV And Mobile Spinoffs
Sony President Kazuo Hirai clarified on Wednesday that the company will not immediately sell off the spun out TV and mobile phone business.