The best marketing plan is having an amazing product.
3P MODEL
BUSINESS DEVELOPMENT DIY
Exercise 1 / 5
#Product
tHIS BUSINESS DEVELOPMENT EXERCISE IS PART OF THE 3P MODEL FOR BUSINESS DEVELOPMENT AND 21 ST-CENTURY SKILLS.
Across these five exercises, you will describe your business, separating it into three distinct areas: your product, people and playground. This exercise focuses on your product (or service) only.
Answer the 2 questions below, regarding your product or service, using the following constraints:
Imagine you’re alone in this world and that the only person who will read what you write here is you. This will help you to avoid any tendency to turn this business development exercise into a ‘show’. The aim is analytic clarity, rather than to sell your product at this point.
Provide specific and clear information (rather than big words, or ‘storytelling’ style sentences) and use a straightforward, plain style where possible, avoiding industry jargon unless it's necessary.
Aim for 2-4 A4 pages if you're able to.
1.Describe your product, focusing on the following questions:
What is your product, in one sentence?
What is your product, in 5-7 sentences (give a little more detail)?
What ‘problem’ does your product aim to solve for people?
How does it solve this problem?
How is your product innovative or unique?
How do you know that people like your product?
Do you have revenues?
How will your product make money in the coming year? Briefly describe your general income and expenses.
Would you like to add something else about your product?
2. Write down 5 characteristics which best describe your product.
3P MODEL
BUSINESS DEVELOPMENT DIY
Exercise 2 / 5
#People
tHIS BUSINESS DEVELOPMENT EXERCISE IS PART OF THE 3P MODEL FOR BUSINESS DEVELOPMENT AND 21 ST-CENTURY SKILLS.
Across these five exercises, you will describe your business, separating it into three distinct areas: your product, people and playground. This exercise focuses on the people in your business only.
Follow the writing guidelines from exercise 1: write for yourself, not an external audience; keep it clear and concise; aim for between 2-4 A4 pages to get detail and clarity.
ALL THE PEOPLE IN YOUR BUSINESS - list the people in your business, answering the following points (skip the ones which aren’t applicable to you):
How many team members are there in your business? make a list of name(s) and role(s).
Do you have investors / advisors / mentors involved in the company? Write down their names, their areas of expertise, the communication mechanism and compensation mechanism you have with them. If they are actively involved in your company, describe how.
TEAM MEMBERS - The next questions should be completed for each separate team member. If you have more than 3 team members, pick you and the next two most senior positions:
What is your educational background and work experience?
Why did you choose to work in the specific field in which you do now, and why do you do what you do?
What is your market knowledge in this specific market and from where did you gain this knowledge?
What values you believe in and would like your business to represent as well?
Write down a summary of yourself, and the team members you're describing, in 5 words or characteristics.
‘TEAM’ - Describe your team routines, dynamics, atmosphere, cooperation and team-work characteristics in 5 bullet points.
After describing your people and product, and prior to continuing to consider your playground, in exercise 3 we will explore the idea of ‘Co-Existence of Contradictions’ (CEOC) and apply this to your business diagnosis.
3P Model
Business Development DIY
Exercise 3 / 5
#CEOC
tHIS BUSINESS DEVELOPMENT EXERCISE IS PART OF THE 3P MODEL FOR BUSINESS DEVELOPMENT AND 21 ST-CENTURY SKILLS.
Across these five exercises, you will describe your business, separating it into three distinct areas: your product, people and playground. This exercise focuses on THE idea of ‘Co-Existence of Contradictions’ and how it applies to your business.
About CEOC
In the previous exercises you described your product and people, using 5 characteristics.
it is very likely that you have only been using positive language to do that.
That’s OK. We have a natural tendency to highlight the ‘good’ parts of a something and ignore (at least externally) the less attractive sides of it. It’s normal and part of what we think is expected from us: to project a positive image of our business at all times. However, this only partially reflects who you are, or how your product is performing.
One of the most important components of the 3P Model is the co-existence of contradictions (CEOC): the act of taking into account both the 'good things' which we like to maintain, and the 'less good things' which are needed to be improved.
There are two immediate practical reasons to consider both the 'to maintain' and 'to improve' in our business. First, it gives us a better and more realistic diagnosis of our business, which will eventually result in a better development plan. Second, when we stop ignoring the 'less good' things about ourselves and our business, we start being able to evolve and improve ourselves and our confidence, especially in the long term.
Apply
Go back to ex.1 (Product) and add 3-5 things that you think need to be improved in your product at the moment.
Go back to ex.2 (People) and add 3-5 things that you think need to be improved at the moment in yourself, in your team members in person and across your team as a whole.
“In the best case you yourself are the target user.
In the second best case
you understand the target user extremely well.”
Sam Altman
3P Model
Business Development DIY
Exercise 4 / 5
#Playground
tHIS BUSINESS DEVELOPMENT EXERCISE IS PART OF THE 3P MODEL FOR BUSINESS DEVELOPMENT AND 21 ST-CENTURY SKILLS.
Across these five exercises, you will describe your business, separating it into three distinct areas: your product, people and playground. This exercise focuses on your PLAYGROUND (i.e. the market in which you operate) AS IT LOOKS RIGHT NOW.
BEfORE YOU START
It is likely that you’ll need to do some research in order to answer the questions below.
Answer the questions as if you are an external researcher or market analyst: be as objective as possible.
Cite the source of facts or important information you include.
Only use reliable sources.
Aim for 2-4 sides of A4.
Consider the co-existence of contradictions: be objective and include the less attractive aspects of the playground in which you operate.
playground picture
Describe the main characteristics of your playground, focusing on the following points:
Current trends (what else is going on in the market at the moment, what's popular and what is considered innovative, professional and attractive in a service or product like yours).
Regulation (any special rules or restrictions which affect your business).
Main players in your playground (list of competitors, partners, suppliers, etc.)
Your client’s characteristics.
Make a competitors chart which summarises who your competitors are, their products’ properties, branding, positioning, and prices. Add your product to the chart for an easy comparison.
Describe in which ways the current covid-19 pandemic is changing your playground.
Having an in-depth understanding of your playground gives you an enormous advantage as a business leader.
After achieving a broad and detailed overview of your business as a whole, including its product, people and playground, we move on in exercise 5 to encapsulate this learning in your ‘3P Canvas’. This will give you a balanced image your business as it is right now, in a way which is not only clear and concise, but also encapsulates all of your business wisdom and knowledge.
3P Model
Business Development DIY
Exercise 5 / 5
The 3P Canvas
tHIS BUSINESS DEVELOPMENT EXERCISE IS PART OF THE 3P MODEL FOR BUSINESS DEVELOPMENT AND 21 ST-CENTURY SKILLS.
Across these five exercises, you HAVE BEEN describING your business, separating it into three distinct areas: your product, people and playground. IN THIS EXERCISE YOU WILL ENCAPSULATE EVERYTHING INTO the 3P Canvas.
Download your free copy of the 3P Canvas here.
remember to record the date you made your observations. Your perceptions of your business can change within days, and it is also important to track this process over time.
Summarise the main findings of exercise 1 in the Product columns: mention 4-6 points on the ‘to maintain’ side and 4-6 points on the ‘to be improved’ side.
Summarise the main findings of exercise 2 and in the People columns: mention 4-6 points on the ‘to maintain’ side and 4-6 points on the ‘to be improved’ side.
Summarise the main findings of exercise 4 and in the Playground columns: mention 4-6 points on the ‘to maintain’ side and 4-6 points on the ‘to be improved’ side.
Your current 3P Canvas is a summarised picture of your business right now. Based on this picture, you can make a task list for the next period of time, focusing on the ‘to improve’ part.
What’s next?
3P Routines - We recommend on completing exercises 1-5 every quarter, alone and with your team. Ideally, your 3P Canvas will look quite different from your previous one: this shows that your business is dynamic, developing and attentive to its playground and customers. You’ll have more things ‘to maintain’. Some of the things you wanted to improve from last time will no longer be there (because you’ve been working on it) and you might have identified new aspects to work on next.
congratulations!
yOU’RE DONE with your business development #stay_home project. We hope that 3P Model has helped you with rethinking about your business AND We wish you the best of luck in developing your business mindfully and growing to meet the challenges you've identified.
If you need advice, ideas, or even a tailored 1:1 service for your business, don't hesitate to contact us for more information.
bEFORE WE SAY GOODBYE - Would you mind sharing your feedback FOR THIS EXERCISE with Keren, our founder?
gOODBYE AND WE HOPE TO SEE YOU AGAIN SOON!
WE’RE ALL PART OF THE STORY
3P Model