As the economies gradually reopen after the first wave of COVID-19, social distancing may still be shaping consumers behaviours and influencing changes in many industries, including retail.
The executive team from RealEye, a fast-growing, tech-based startup in the research industry was among the participants of the second edition of Business Model Mastering at Google Campus for Startups Warsaw. In my interview with Adam Cellary, Founder and CEO of RealEye we discuss his experience with building a scalable business model based on digital technology.
Radek Wierzbicki, recent participant of Business Model Mastering at Google Campus Warsaw is the Founder and CEO of Trefix, a promising fintech in B2B sector, which provides currency risk management application. The reason why I have asked Radek for this interview is twofold. First – because Radek and his team are experts in currency management risk and taking into consideration highly volatile economic environment we are currently witnessing I wanted to hear from Radek his predictions for 2020. Second reason for this interview is because Trefix is a great example of designing new value proposition based on the observation of Customers’ unsolved problems and pain points. Therefore I wanted Radek to share his experience in designing value proposition with other startup founders. ……
Sales channels are one of key building blocks in every company’s business model. They give access to company’s offer, they deliver value promised in the offer and they assist clients in their buying process. Mismatched channels can however generate excessive costs or even restrain our sales.
In my last article I was referring to a typical situation, when a sales representative comes to his boss asking for his permission to lower the price in the offer in order to overcome client’s barriers and thus to increase sales. I was emphasizing that the reasons for company’s sales deciline may lie outside the pricing area. The reason for sales decline may be the lack of proper value proposition – discussed in my previous article or lack of adequate segmentation – which I address in this post.
A sales representative comes to his boss and asks for his approval to lower the price in the offer, because sales slowed down and market is “demanding”. This situation is known to many CEOs in the SME sector, whether they are a production company, a service company or a distributor. However a slow down of our sales may happen for many different reasons and does not necessarily mean that our prices are too high.
If the company doesn’t verify the actual reasons for declining sales and immediately cuts its’ prices, it may unnecessarily lower the profits.
Polish SME companies often have good products and services, but they lack business models that would allow them to generate an adequate level of profit from products or services they provide. As a result, they may lose their opportunity to grow.
Depending on different sources, it is estimated that around 80% of new products fail. In this post, you will learn what to do in order to be in the 20% of successful launches.
I was recently invited to be one of the speakers at Simon Kucher & Partners conference held in Warsaw on the 28th of September. The conference focused on the importance of pricing and innovation in the organization. One of the highlights of the event was Georg Tacke’s speech on innovation. Georg presented striking numbers from the recent study by Simon Kucher & Partners.