Recently, I was told I am good at ‘seeing the money’…
….so I got the task of ‘developing propositions’ as part of my current job.
Whilst spending hours and hours answering one simple question
I could not help thinking…if I need to re-invent our propositions , then probably it means we failed to make money (or at least enough money) with the current ones.
this was a fundamental error in my thinking…
and I realized that when I read a blog from my favourite brand agency Wolf Ollins, talking about the commonalities among very successful and fast growing brands.
They identified 5 common features and arguably being ‘value creative’; is the most important one … and they gave the Lego example – ironically of which – I have blogged about in the past.
Being Value creative = constantly finding new ways of making money.
They have given the Google and amazon.com examples as being the best at successfully identifying and strategically investing in new revenue streams..
Anyone’s proposition is irrelevant – even it is the best idea in the World – if people simply just not ready or willing to spend the money on.
During the process of proposition development, the one critical conclusion I had to draw was:
It is not because you do not spend your money on 1 thing, that you will not spend your money on 10 different things!!! So the real questions should be: what those 10 things are and how quickly you can access that market?!