The 11 and 1 JP’s of entrepreneurship

My first business experiences were at junior high, more serious in 1976 when I enrolled Nyenrode Business School. A lot of training then, later on and now, experiences to cry about but also to shout out loud, and then some additional exeperiences on guiding people, including entrepreneurs.

Time to write a book!

Well, not really, as I want to be a writer of SF or whodunnits, which are more or less out of vogue these days, or my concepts are just not too brilliant. But I do need a way to write donw my ideas, concepts and future of business economics and marketing.

11P. Really?

Yep, and I’ll spoil you by giving them to you up front. It might take the rest of my life to write it all down in a way that I do like, but without a start there’ll never be an ending.

The number of P’s can hardly be qualified or quantified. It can be the P of pleasure of entrepreneurship, the AHA-moment when you see a product or services going live and receive acclaim, compliments and sales. It’s also about the pleasure of having a pain taken away. Just remember happiness comes with 2P’s!

The basis: Problems and pain.

Everybody has problems, only a few have viable solutions.
Problems can be very divers:

  • It’s summer, you need something cold;
  • Your products are not selling as good as they were selling before;
  • A customer is baging on the door with his sollicitor next to him;
  • You need money.

The thing is, there is not just one solution, there are many.
To deal with the obvious one, the first one: Icecream. But also: Chilled watermellon, a dip in a pool, lemonade. What about a fridge, an airconditioning or a butchers cool room. It’s all depending on the pain you experience, the options, availability and budget.
Each solution comes with a price tag and pleasure.
My system is based upon those elements: The price of pain and pleasure.

P1 is the Product.
You may name a service, a good, recurring services, whatever!
It needs to be sustainable, innovative or at least cheaper than other similar services or goods. Cheaper might mean in your sales price, but what it really means it should give your customer a better experience at the same price. Or cheaper.
Basically, it’s a tool to reduce some pain of your customer. Yes, delivering a standard product at 99.5% of the current marketprice might take away some pain of your customer but delivering that product in the right size and quality at the desired moment might be worth a plus of 2% for your customer, simply because he can reduce stock, out of order and losses due to a slightly of spec material.

P2 is price. Obviously, it might be a very good value to your customer if you can sell him a Malibu beachfront house at 2 in stead of6 million, if your customer can’t afford 2, or even 1.000.000 it is still wasted time.
One of the common reason for failure of innovative products and service is the focus on one or two factors, like sustainability, design, uniqeness… It might be your moment of joy, but customers might not be able to like or afford it due to a lot of reasons. That’s why you need the 6P’s as a total: Picking out just one or two might damage your business and your futre.

P3 Promotion

P4 Place

P5 People

P6 Planet