All sizes, types, and ages
A short case study
This week, I’ve started working with a new client and using my 4-step Finding Your Wedge process as a guide for their research project. Here’s how we’re doing that:
This client is creating a new, asynchronous, online training program for their customers. Currently, they do in-person training sessions and synchronous trainings via Zoom. They have a couple of online courses, but they know those need a significant re-vamp. While their current programs have worked well in the past, they know there are solid asynchronous training programs in their market and as that becomes a preferred training method for customers like theirs, they want to start pivoting more seriously in that direction.
Before they start creating though, they want to know specifically what programs are currently being offered in the market and how those other programs are priced and delivered (Step 2: Inspo-Competitors). With that information, they want to find define their best place in the market (Step 3: Find Define their Wedge). They’ll use this research to inform the development of their new training courses and the messaging they’ll use to tell their clients all about it (Step 4: Wedge Statement).
Before we start working through Steps 2-4 though, we are making sure we understand where they are now (Step 1: Starting Point Sentence). Given their experience, they’ve got that mostly defined, but we are starting with a statement that’s narrowed and specific to this new training they are creating.
They could have just started out, feeling confident that they understood their customers, the competitive landscape, and what they wanted to offer. After all, they do have 15 years of experience. However, they want to save themselves time and money by pausing to clearly define their path before they head out. They are looking for blind spots in their assumptions and creating a map for their journey. Smart.
Businesses of all sizes, types, and ages (!) benefit from market research. This client has been in business for just over 15 years and is well-established nationally. However, they are venturing into new territory and want to make sure they head in the right direction with their new training program.
As a solo entrepreneur, you too can benefit from a pause to take a closer look at the market you are (or will) operating in.
Subscribers get the 4-step Finding Your Wedge framework for free. Smart.