2018 challenge day 18 – The Power of Why: Breaking Out in a Competitive Marketplace

About the book

The book The Power of Why: Breaking Out in a Competitive Marketplace, written by C. Richard Weylman and published on April 23, 2013. The book has a total of 176 pages.

The book is divided into two sections. The first section primes the reader to understand why a business must be customer focused rather then product focus whereas the second section details the six steps to break out of a competitive marketplace.

In the first section, Richard discusses from his experience how delving deeper into a customer’s story helps produce sales. He worked selling Rolls Royces and by asking the customers why they were buying the car, he was able to find ways to increase value for the customer and close the sale.

To cement this he brings in stories from Michelin and other companies on how they had succeeded by focusing on the customers and why they bought.

He then introduces the following six steps:

  1. Rules of Engagement – how to find out what your customers truly want
  2. Crafting your promise – creating a mission on how to serve that customer
  3. Getting your organization on promise – how to reorganize and build your organization our the mission defined in the earlier step
  4. Marketing your distinction – capturing a niche market to avoid competition
  5. Advantage-based selling – sell the produce on how it can give the customer what they want.
  6. Exceeding expectations in customer services – go above and beyond in providing excellent service for your customers.

Key takeaways and commentary

My key takeaways are:

  1. Focus on what the customer wants
  2. build your product and business around want your customers want
  3. never lose sight of what your customers want
  4. find a niche so you won’t have to compete

This book was actually very eye opening and I believe it would be a great read for any entrepreneur.

In business school and the consulting world what Richard is promoting is considered pull marketing where the firm builds a product around the customer rather then building the product first and then finding the customer. This is very useful for early stage businesses, in my opinion, because first you know that there is a market and second you have cash flow.

I also believe that the ideas in this book can translate to information based businesses such as magazines, blogs and consulting firms.

What do you think? Feel free to leave your thoughts in the comments and if you found this post useful or enjoyable, please share and leave a like. Thank you!  Stay tuned for tomorrows book The Leap: The Science of Trust and Why It Matters

For more information on the 2018 challenge, visit the following link: Business Trek 2018 reading challenge.

You can also get the book via the following link: The Power of Why: Breaking Out in a Competitive Marketplace

Photo by Alicia Zinn from Pexels



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