Finding the Most Attractive Markets to Create a Powerful Offering
In This Chapter
Picking the right industry
Gauging the most attractive customers
Getting the niche right
Choosing the best spot on the industry value chain
The most important step toward creating a great business model is creating a product that customers want and will buy. This is called a powerful offering. The first step in creating a powerful offering is selecting the right market. Picking the combination of industry attractiveness, niche attractiveness, and customer attractiveness creates the best market for your product.