Principles of Business Concept Development

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The business concept reflects what is offered to potential clients – the core values. To find them out, you need to see the processes through the eyes of the clients. What else can you offer them, besides what is stated in the price list? What will the business provide to society? If it does not have significant values, you need to come up with them. For example, selling food products without hidden characteristics (gluten, etc.).

Key competencies are what you do better uruguay mobile phone numbers database than others, what makes you stand out in the market, and what puts you ahead of your competitors.

Let's say a surgeon buys a unique device that heals scars faster and makes them almost invisible. All clients will prefer this specialist.

The business concept should answer the following questions: the location of the company, where it communicates with potential clients, what are their requests and the value of the products or services provided. The concept should always be unique and not repeat what is already on the market - clear and narrowly specialized for a specific group of clients, not spread over a wide range of goods and services.

Thus, a business with a concept will know the answers to questions such as “who are our main competitors, key clients”, “what are our core values ​​and competencies”.

Pragmatic concept

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But to say that your business has a concept, it is not enough to do everything mentioned above. You also need to align the elements of your business (from your corporate culture to your growth plans) with the main concept. In other words, everything that comes out of your business should be so clearly expressed in a specific way that an outside observer can clearly say: everything is included in the general idea and there is not a single element that would not be consistent with this idea.

At the beginning of creating a business concept, experienced businessmen advise answering several questions to determine the main direction of business development. Here is a list of these questions:

What niche in the market will the business occupy?

What will the company look like in five years?

How many employees will there be on staff?

Who is the main competitor?

Do the organization's assets include movable and immovable property?

What limits can a company's turnover reach?

When working on a concept, it is better to deal with the head of the company. He can give useful advice on his vision of development. Together with him, you can create a model for promoting sales and services.

The next step is to develop a company mission. This is a plan for the future. For example, forecasting what markets the organization will cover in ten years, what products it will produce and what its marketing activities will be.