As a business your focus may be entirely on delivering projects for clients. However, you are aware that you have a number of offerings that could be income streams in their own right.
This workshop involves prioritising which offerings to take to market and the considerations involved to create a cohesive plan.
Here we look at what steps need to be taken internally, before looking outwards to scale up and increase sales.
Topic: Selling more – productising what you already have
Date: Tuesday 16th November 2021
Time: 9:30am – 12:30pm
Location: Business Innovation Centre, Binley Business Park, Binley, Coventry, CV3 2TX
- The What? Prioritising which of your offerings to take to market first. Here we consider a way to quickly identify which of your suite of offerings are likely to be quick wins and could be market-ready first.
- Which markets? We then consider what you are providing from a market perspective and how to segment and reach customers and what is their need. It may be that if the market is not readily accessible that we need to go back to the prioritization process and select another offering.
- How to reach them? This is where we focus on what and who in terms of how we are going to secure the sales and build a pipeline. We need to consider here the resource involved and capacity to make this happen.
- The Business Model: Have you got the pricing model for selling it commercially? What exactly will they be buying and how?
- What else needs doing? Consider with the productized offering what else needs creating before it is commercially ready. This could include training videos, onboarding processes and wrap around support.
- Planning Process: Here we create a high-level plan in terms of steps, timings, and costs to bring the offering to market. This will help us to gauge when we will secure a return on investment and to validate whether it is a good idea.
- Sell One: Finally, before you make the plan happen you need to get an order of intent to validate that there is a market. The ideal position would be to get a few pre-orders to fund the commercialisation costs.
These workshops are delivered as part of the Business Ready programme to support tech based and knowledge intensive small businesses, with high growth potential based in the Coventry & Warwickshire LEP area.
This project is part funded by the European Regional Development Fund, forming part of the CW Business: Start, Grow and Scale Programme.