As I continue to struggle to type with a sprained left wrist, my posts will continue to be very brief. In the end, that may be a good thing to learn on my part.
I have always liked the definition of transofrmation as:
A change that renders prior skill and knowledge obsolete.
However, thanks to Google which led me to LibraryBytes, I was directed Phil McKinney's blog where Phil has a very useful set of points to consider as you look at your business:
- If you charge for undifferentiated stuff, then you are in the commodity business.
- If you charge for distinctive/differentiated tangible things, then you are in the goods business.
- If you charge for the activities you perform, then you are in the service business.
- If you charge for the time customers spend with you, then and only then are you in the experience business.
- If you charge for the benefit customers (or "guests") receive as a result of spending that time, you are in the transformation business.
This is just the beginning of my trip throught his great thoughts on innovation. I recommend you take your own trip.
Let me know what you find that may be of interest to others who read this blog.
Fabulous insights! It is about the customer (reader, theater-goer, etc.), not about goods, services, or time. Be in the experience business, charge for the benefits, and create happy customers when they receive those benefits and recognize the value of those benefits. That's called a guaranty.
Posted by: Lewis Green | December 3, 2007 10:00 AM | Permalink to Comment