Since the year 2000, I have been mentoring business owners regularly via Day 8 Business Academy, the social enterprise arm of Mansmith and Fielders Inc. dedicated to the micro, small and medium enterprises. One of the most often mistakes they make is supply side thinking. Supply side thinking is the opposite of demand side thinking or being customer centric. Ask […]
Supply side thinking
Profiting from customer dissatisfaction is one of the worst ways to create profit for a business. It goes against the concept of a compelling value proposition where pain points of target customers are identified and addressed. Satisfaction of needs and wants should be prioritized to continue to be relevant as a brand. The emotional connection is often lost when buyers […]