What Business Are We In?

“What business are we in?” can seem like a silly question for a company with good sales and profits. We make cars, sell diapers or are lawyers. But a clear understanding of our business model and the customer demand we are satisfying is essential for the company’s long term survival. Businesses that see themselves as satisfying a customer demand rather than producing a product will have superior performance over time. “What is the customer buying from us?” and “What is the customer’s important unmet need?” are the core questions we must challenge ourselves to answer.