As a leader in the manufacturing industry, there are many factors you have to consider as you discover what your customers want and need and how you can provide that critical element to them. A big piece of this process is developing your business value proposition. This is the idea of looking at what you offer and what your customer needs so that you can create something that makes sense for you and also creates a profit for you, while it fits in both your business model and your customer’s business model. There are many elements that go into creating this product or service. It involves looking at what your customer has to do every day that you can help them do a little bit better. This could include overall processes such as helping them with their critical success factors, streamlining their processes or helping them with their routine jobs. But it mainly comes down to considering helping your customers with regards to two main components: addressing their pains or their gains.

Do you have an idea for a new product or service? Sometimes those new ideas sound great, but we need reassurance that we are going down a good path before we travel too far down the road. The lean startup methodology is based on the premise that you don’t know what your customer wants until you ask them. And since you are working for them and their needs, that is the best place to start when creating a new product or business. Following some key steps can help save you time and money in the long run.