5 Parts of a Business
Name the missing part
Marketing, Sales, Value Delivery, Finance
Value Creation
This function handles paying employees, suppliers, and bills.
Accounting/ Finance
The first step in value creation is figuring out what problem your audience has.
Finding a Need
The desire to stay alive and healthy.
Survival
This term means how good or rich an experience is.
Fidelity
A pizza shop gets lots of orders. Their marketing works, and their sales team is friendly on the phone. But deliveries are always an hour late, the pizza arrives cold, and sometimes the toppings are wrong. Customers try once, but don’t come back.
Whats Part of business are they failing at?
Value Delivery
This function is responsible for finding and hiring employees.
This describes the personality of your business (fun, serious, luxurious).
Brand Identity
The desire to be liked and accepted by others.
Acceptance Belonging
This term means how easy, quick, or accessible something is.
Convenience
A new clothing shop opens with stylish, affordable clothes. Ads bring in a ton of customers. But when shoppers walk in, no one greets them, the prices aren’t clear, and the checkout line is confusing and slow. Most people leave without buying.
What Part of Business are they failing at?
Sales
This function is about advertising and getting your product known.
This group of people you are trying to sell to is called your ______.
Target Audience
The desire to learn and grow.
Curiosity
Getting a massage at a luxury spa is an example of high ______.
Fidelity
Tracking money and making sure the Business _____s more than it ________s. Is the Finance part of a business.
Earns more than it spends
This function focuses on keeping products available and delivering them to customers.
Operations
If your product solves a problem but no one buys it, you likely failed at this part.
Marketing or sales
The desire to feel respected or admired by others.
Grabbing a pre-made sandwich from a gas station is an example of high ______.
Convenience
This part of a business is about turning interest into actual paying customers.
Marketing
This function creates new products or improves existing ones.
When designing your marketing campaign, you should ask yourself what you want your audience to do or feel after seeing it.
Remember your message / take action
The desire to avoid pain, effort, or problems.
Ease/Avoiding Hassle
Most businesses must balance these two qualities when designing products or services.
Fidelity and Convenience