Categories of Wants for Businesses
This article is about evaluating categories of wants for businesses. I previously wrote an article about categories of wants for consumers, you can find it at http://blog.lowesoftware.com.
Distilled down, businesses are concerned with two things:
- Survival – This category is about ensuring the ongoing operations of the business. These are often times cost centers for the business such as taxes, regulatory compliance, corporate filings, human resources, etc. They are required for the business to function and survive.
- Profit – This is the ultimate goal for business. This category is about offering ways for businesses to increase profit. See return on investment. This includes optimizing processes, reducing cost structures, providing product for resale, etc.
While businesses can be socially conscious or do good, charitable, and altruistic things, a business at it’s core is concerned with it’s own survival and profit.
When developing offerings for businesses you should ask yourself how your offerings fulfill one of these two wants of the business entity. If you can offer a business a better way to survive or profit you’ve got something.
Illustrate a return on investment and you’re gold.