Core Customer needs, The gap and the gain, Jimmy Donaldson Squid Game & Productive Paranoia
5th December 2021 Evolution Partners Newsletter
“Leadership is a choice that lies in the space between stimulus and response.” – Stephen R. Covey
Hope you’re Thriving!
It’s been a productive week with a couple of quarterly planning workshops with teams and some interesting meetings. Also, I decided on a final design for my new book cover, which still requires colour and design tweaking, but the concept is solid. And that matters because while the common saying is that people don’t judge a book by its cover, in fact, people do judge books by their cover! So I’ll show it to you when the final design is approved.
Core Customer needs
In one of the workshops this week, we covered the core customer concept and how you need to select a customer with real wants and needs; who represents your ideal customer, drawn from real customers. This is often challenging for leadership teams because logic tells them that they should have a wide variety of customers they want to serve; but, when you try to be everything to everyone, you end up being nothing to nobody. What really matters is the problems that your core customer has and their needs, and how your strategy will meet those needs.
When working on the core customer exercise, people will often look at demographics, but demographics can be misleading; demographics can get us not to understand a core customer’s needs and how we can meet those needs better than any other firm.
An excellent example of how demographics can confuse core customer needs is shown in the image below. If you didn’t know the name of these people Ozzy Osbourne and Prince Charles, you might put them into the same core customer bucket. However, they’re obviously very different people.
The gap and the gain
Recently I’ve been reading a book called The Gap and The Gain: The High Achievers’ Guide to Happiness, Confidence, and Success by Dan Sullivan. Dan Sullivan is the founder of Strategic Coach, a coaching firm that has worked with over 20,000 business owners.
In the book, Dr Benjamin Hardy shares one of Dan Sullivan’s simple teachings that until now has been known only to his Strategic Coach clients: unsuccessful people focus on “The Gap,” but successful people focus on “The Gain”. It’s an interesting insight into how the human mind sets ideals that we can never actually reach, which means we remain unhappy. Instead, he recommends visualising the ideal and measuring what has actually been achieved, rather than measuring the ideal and measuring what has been achieved relative to the ideal. This concept is best understood in the image below. It’s a good concept, and I can understand how it works with type A personalities, and it’s a book that you may well enjoy and gain value from.
Jimmy Donaldson beats the original Squid Game
In January this year, you may remember when I reviewed Jimmy Donaldson AKA Mr Beast, the YouTube star who launched a virtual restaurant chain with 300 outlets, all on the same day. Jimmy is at it again, having created a replica squid game video emulating the Netflix series. According to Netflix, in the first 28 days on the platform, Squid Game had more than 142 million households watching the show; in the first eight days, Mr Beast’s video has already had 140 million views.
Watch the 25-minute video here $456,000 Squid Game In Real Life!
This week on The Growth Whisperers podcast
What is productive paranoia and why is it so important in leadership? Many leaders think that optimists are the best people to lead companies, but in fact, the data says that optimists have a much higher chance of failing. Instead, the leaders who always ask ‘what if, what if, what if?’ are the ones who build enduring great companies.
You can only learn if you survive your mistakes, and the only way to survive your mistakes is to be constantly on the lookout for things that can impact your plans.
In this episode, Brad and Kevin talk about the concept of productive paranoia, and why it’s a critical leadership tool.
What is Productive Paranoia and why it’s a critical leadership tool?
Listen to The Growth Whisperers
If you would like to receive our weekly newsletter as an email, simply complete the “subscribe to my newsletter” form at the top of this page.