value proposition, customer value, customer

Creating customer value

The value proposition is all about creating customer value. But how do you do this? A value proposition describes why a customer should buy a product or service. In fact, it should target a very well-defined customer segment and convince potential customers that the product or service will add…


customers, tam sam som, beachhead market, main customers

Sizing your beachhead market

To estimate the size of your beachhead market you must consider the various subsets of a market and research into each one to understand the dimension of each subset: the Total Addressable Market (TAM), the Serviceable Available Market (SAM) and the Serviceable Obtainable Market (SOM). TAM, SAM,…


focus, beachhead market, beachhead, strategy, positive cash flow

Your beachhead market

Beachhead strategies have proven their success since the Allies’ D-Day invasion of Normandy in 1944. The Allied forces established beachheads on the shores of Normandy as a key starting point for gradually conquering all Nazi-controlled territory. Similarly, selecting your beachhead market is…


market segmentation, customer feedback, feedback, narrowing, analysis, market analysis

Market segmentation

Market segmentation is the process of exploring the world of potential market opportunities before blindly diving into deep waters. It’s about taking a step back to the full view of every possible market (brainstorming), reflecting on which ones inspire and attract you the most (narrowing), and…


know your customer, end user, decision-making unit

Know your customer

Once you have figured out your strategic business plan, you dive into it for a detailed analysis of your End User Profile. The main goal here is to be sure that you are developing your product/service focused on the real human being who will be using or buying it, rather than around your own…


strategic business plan; business plan; startup implementation plan

Strategic business plan

“Albert Einstein was on a train. He could not find his train ticket after searching through all his pockets and bags. The conductor approached him and said something to the effect of, ‘Dr. Einstein, everyone knows who you are. We know that Princeton can afford to buy you another train ticket.’ To…


financial plan, balance sheet, financial planning, financial business plan, business model

Develop your financial plan

As we have learnt in the last Smart Hub Article, one of the things to be considered for the business to generate incremental growth is the amount of capital. Therefore, the financial plan is an important task. Your balance sheet is where you want to get to see what your business is worth.…


scalable business models, scale your business, scaling

Highly scalable business models

“Highly scalable business models” are the four magic words to quickly hook most venture investors, but what does this mean?! In essence, scalability means how easy the business is growing. Now this raises a new question, if scalability refers to the “ease of growth” then what decides the “ease of…


Building your ‘Minimum Viable Product’

The main purpose of your ‘Minimum Viable Product’ is to quickly see the essence of your idea in action and test your key hypothesis to minimize errors with the minimum amount of effort and resources. Some of the main benefits resulting from building an ‘MVP’ for your idea are: Initial model.…