Your Products and Services are Defined: Step 1

Newport Winery

About Us

For those new to Performance Business Design, we collaborate with businesses of less than $10 million to improve weak areas of our 12-Area Performance Check, which are the 12 areas I’ve deemed, in my 30 years of being Wall Street securities analyst, the most important factors contributing to a business success.

The Purpose of This Series

In this series I am going to show you the steps we take in working with clients.  The area, which we call Performance Enhancement Strategy, which we will be covering here is called Your Products and Services are Defined.

Step 1: List Your Products

When I work with clients they are often surprised how clinically precise we get when defining products and services.  The fact is, my research shows that some businesses, particularly the very small ones, don’t have clearly defined products.  I see different versions of “we do it all”.  For example a building contractor may state “we can improve your home” without stating what precisely they do, or what their specialty is.  The first step, then, is clearly listing your products.  For some, grouping them by product line is appropriate, particularly when there are many products.