The Conversation

Point of View: The Key to Unlocking Fast and Sustainable Business Growth

Point of View: The Key to Unlocking Fast and Sustainable Business Growth

By Charles Fred, Founder

Establishing a point of view (POV) is essential to unlocking sustainable and measureable business growth. A strong POV enables businesses to attract new customers, stifle competitors, and inspire and motivate employees. It also provides focus and scale to business operations. While every business owner should establish a POV, many overlook creating one to the detriment of their business.

A POV is a narrative lens through which customers, employees, and other stakeholders gain insight into a business’s unique way of viewing the world, market, and niche in which it operates. Unlike a value proposition, a POV does more than tell the ‘how’ or ‘what’ of a business, but instead emphasizes the ‘why’. It’s also research-based—derived from hard facts and data that clearly highlight a problem or need in the market, one which a given approach will solve. A POV is unique—different from the outlook and mental models of competitors. And a strong POV is inherent in and reinforced by every aspect of the business—from interactions with customers, to strategy meetings, to employee events.

The benefits of having a POV are numerous. For one, it attracts new customers and retains existing ones by creating an emotional and/or intellectual connection that extends beyond the company’s offering. Customers who share a business’s POV are more likely to purchase its products and services even when they may be higher in price or less convenient to find. A POV also attracts and retains employees by fostering a culture with a vision that employees can share, thereby increasing their engagement and motivation and reducing turnover. Additionally, it improves operations by setting necessary constraints and focus to scale products and services. By setting a POV, businesses can focus on producing a few number of products and services well, and avoid adding unnecessary complexity that eventually exhausts resources and reduces quality. Because a POV is grounded in research, it also helps establish the company as a thought leader in the industry, building its reputation and credibility that leads to the benefits mentioned previously.

Businesses can begin formulating a POV several ways. One way is to observe customer behaviors and identify new market segmentation models. Another way is to research competitors and see how they interact with customers. What are they saying on social media? How are they marketing themselves? Businesses should also be listening to their existing customers. What do they say about products and services? Additionally, companies should also network with experts in their field and other entrepreneurs to find out market needs and problems. Above all else, businesses should keep an open mind and be listening.

After establishing a POV, businesses must promote it. One way is to approach trade journals and external publications to pitch ideas that support the POV. Because most quality publications won’t publish an article selling a company’s products or services, the goal here is to sell the POV while referencing the business. Another way is to create blogs and other communications to post on the company’s website and social media outlets. Beyond publishing, the business should strive to include the POV in every aspect of its business—making sure that strategy meetings, employee events, and customer interactions reinforce the POV.

A POV is fundamental to small business success. Without one, businesses are at risk of losing ground to their competitors who are telling the story behind the company and the products and services it sells. In order for businesses to continue to grow, gain customers and employees, they must focus on this essential task.

Who has ever found a destination without first setting a course?