Some call it “EUREKA”, others refer to it as the “A-HA MOMENT”, yet, if you’re like Jeff Bezos, you’ll just tag it the “We just clocked 1 billion dollars in revenue, guys. Get back to work.” The name doesn’t matter, the path to this moment is what we are after and that’s the topic up for discussion today. How do you reach the “A-HA moment” in your business? Curious to find out? Continue reading.
Putting it in very simple and clear terms, the path to finding the magical moment in business stems from discovering your core product value. Let’s go deeper.
What is Your Core Product Value?
This is the essence of your service or product. Without the core product value, it is impossible to convert guests to customers. Identifying your product value is what can help you gain 500 million users in record time. In fact, it has been observed that a company that has discovered it core product value will outperform others in fund-raising ventures.
In summary, the core product value is much more than the practical value in that it satisfies the 6 inherent needs of the customers. These needs are;
- Certainty
- Surprise/spontaneity
- Premium feel
- A sense of community
- Growth
- Impactful contribution
These definitions might suffice for some while others might want practical examples. We got you covered. Below, we discuss the path some of the successful companies took to discover their core product value and how they got to their “A-HA moment”.
Facebook and Its Core Product Value
As Mark said in his speech to the Harvard graduating class of 2017, Facebook’s aim is to connect the world. And they didn’t need to start on a grand level. In fact, the a-ha moment for them was being able to get a user to connect with 7 friends within 10 days.
This was a perfect merger of product and growth in that they were building their core value while getting the largest target audience to experience it.
Twitter and Its A-ha Moment
Hear what Josh Elman, an employee at Twitter had to say on the company’s core product value.
“At Twitter, we found that if you visited Twitter at least 7 times in a month, then it was likely you were going to be visiting Twitter in the next month, and the next month, and the next month. And we decided this was enough initially to be “really using it”.
There you have it, the aim was to get the user to experience their awesome service at least 7 times, and then, boom!
Uber and Its A-ha Moment
Uber has a slogan; “my own private driver” and they have succeeded in selling this story to people all over the world. Imagine you just finished a business meeting, you pull out your phone, push a button, and within minutes, your ride shows up. Did you just say A-ha?!
It’s not just the big fish that deserve their A-ha moments. In a highly democratized digital ecosystem that rewards the individual merit of startups, every single entity has a shot at their big moment. It may be just a dawn of realization or a sudden call to action, it’s a turning point for every single startup worth their salt. And that is precisely why we at Biztruss don’t just talk the Digital 360 but Walk it. We’ll let the mystery persist for a bit more if you haven’t had the opportunity yet to check it on our website, but we’ll do the right thing let you on the 3 tips that counts for everything in building your core product value.
- Prioritize building the core product value.
- Ensure that the users experience the core product value as soon as possible.
- Make sure the largest percentage of your target market get to experience the core product value in good time.
Like to talk a little more on this and unveil the mystery? We’d love to help you discover you’re A-ha moment.
