Whether you seek to gain more clients, become more competitive or to raise capital the burning question is – What makes your business viable?
Viability has to do with your ability to identify and meet a need like no one else. Your offerings delight customers and satisfy their urgent needs. People can not wait to place their orders. Customers enjoy using your product, technology or service and engage with it as often as possible. Your offering makes their life easier, solves their important problems. Customers readily spread the word and enjoy telling their friends and associates. They become your biggest fans.
Viable businesses are profitable for your company. There is a low cost structure and good profit margins – at certain volumes. Because the offering is special with high customer value, one can imagine that profit levels can be maintained for long periods.
Growth opportunities abound for viable businesses. There are good prospects for growing demand in your home market, good potential for global expansion and often additional opportunities to extend your core technology or value proposition into ancillary products and contiguous markets.
Partners are easy to find for viable businesses. Whether you need to recruit professional employees, alliance partners, research collaborators or distributors, they all easily understand there is a real business, can readily see the value for customers and appreciate the competitive strengths.
Finally, viable businesses offer positive prospects and can raise financing in any market environment. Bankers, angels, venture capitalists and strategic investors can understand and measure the total attractiveness of the business model, the value proposition and see positive revenue, cash flow and return on investment (ROI) potential.
So rest assured that with these five compelling attributes of a viable business you will be swimming in customer loyalty, pumped up employees and delighted stakeholders!
Best, Sylvester Di Diego
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