The way in which a company creates a compelling value proposition for customers, business consultant Jeff Nock outlines business model development basics.
Most commonly known as business model development, the process, according to business consultant Jeff Nock, involves creating and sharing a value proposition that’s attractive to customers across the board. Delving deeper into the process as he outlines more closely what’s involved, the leading business expert, who’s based in Iowa City, Iowa, defines business model development and shares a number of tips for developing a business model in the first instance.
“In the simplest sense, business model development involves the creation and distribution of what we might call a compelling proposition, value-wise, that customers will be happy to pay for,” explains Nock, “but at a price, importantly, that still yields an appropriate and acceptable profit for the company or organization developing the model in question.”
Business model development is especially crucial, Nock says, when exploring or anticipating the launch of a new product idea or service. “Further to value proposition and profit, it’s vital,” he explains, “to ensure demand, first and foremost, and, also, to have the necessary distribution channels and other key infrastructure either prepared or already in place.”
Thankfully, Jeff Nock reveals, there are a number of helpful tips that can help when tackling the business model development process. “Start by defining a target market,” suggests the successful Iowa City-based business consultant, “and consider how you might be able to further segment this market moving forward.”
Next, he says, define marketing and distribution channels, before carefully considering revenue streams. “How, for example,” asks Nock, somewhat rhetorically, “are prices being set, and how is revenue ultimately collected?”
Any well-developed business model will also consider all possible resources which may be required for success, including human resources, financial resources, suppliers, vendors, and more, according to Nock. “Ask yourself, what level of investment will be involved, financially?” suggests the expert. “Also consider costs tied to training, branding, and maintaining vital technologies, for example, too,” he adds.
Finally, and perhaps most critically, Jeff Nock stresses the importance of identifying what a company plans to do to deliver on a competitive strategy front. “How does the company differentiate itself against and from the existing competition?” he asks, again somewhat rhetorically. “If it isn’t immediately evident,” adds Nock, wrapping up, “take a much closer look and consider all of your options, even if it takes numerous attempts to get things just right.”
Business consultant Jeff Nock, based in Iowa City, Iowa, explains the basics of creating an effective channel strategy
Loosely defined, channel strategy is how a company gets its product or service through their business process to the customer. For example, if a company produces a physical product and sells that product to individual consumers, they have multiple channels to choose from (direct online, direct in their own store, through a retail partner, through Amazon, etc). In the business to business space, channel options can include selling direct, through partners, value added resellers (VARs) and other options explains marketing and product development specialist Jeff Nock.
“Often startups or companies launching new products have to start with a direct channel strategy because it is hard to get on the shelf at bigger stores and initially hard to gain traction on Amazon or other online marketplaces. Thinking through a channel strategy that can help generate much needed cashflow initially but can also scale to optimize potential sales is both an art and a science,” suggests Nock, the founder of a successful business consultancy firm located in Iowa City, Iowa.
From determining the correct target market or individual buyer to outlining so-called ‘value propositions’ of a product, service, or other offerings, creating a successful channel strategy relies on a number of distinct steps, according to Jeff Nock. “First, it’s important to define one-or possibly more-channel or channels,” says the expert. These channels today can involve many different options as partnerships continue to diversify. The challenge is not to bite off too much as managing channel partners can take just as much time as providing great customer service to customers.
“For many firms looking to implement a channel strategy,” Nock continues, “knowing their target market and how that target market prefers to purchase products or services like theirs is huge.”
Doing proper “customer discovery” when choosing a channel strategy is just as important as it is when doing customer discovery when designing the product or service in the first place. It is imperative that companies not only know that what they are offering is wanted by their target market but also how (channel) that target market prefers to buy,” suggests Nock.
Once a company has learned from their target market how that market prefers to purchase products or services like theirs, the company should then conduct a thorough analysis of all the different ways that channel could be implemented. Once this analysis has been conducted and the best, defined as most desirable to the target market, and economically advantageous to the company, channel strategy is determined, a well thought out implementation plan should be executed. “Too often companies go with the easiest channel to enter and suffer long term repercussions for such short sided thinking,” suggests the expert, “conducting good customer discovery, analyzing the best implementation strategy and executing that strategy helps avoid this pitfall.”
Often is necessary to avoid channel conflict, Jeff Nock says, as a company doesn’t want to find itself competing for sales with its own partners. Channel segmentation according to Nock, may see a company target exclusively larger enterprises through its direct sales channel strategy while, when looking to sell to smaller and midsized firms, employing only partners.
Branding, sales, and marketing expert Jeff Nock outlines the partnership development process and its importance in business.
A successful Iowa City-based businessman and founder of Prescient Consulting, Jeff Nock boasts a demonstrated history of growing established companies, startups, and nonprofit organizations alike. Here, business consultant Nock outlines the importance of partnership development.
“The essence of partnership development is that businesses execute their core competencies in-house and partner for everything else,” explains Nock, founder and CEO of Prescient Consulting, LLC, based in Iowa City, Iowa.
Partner development or partnership development is a so-called customer-centric approach to business development. According to Jeff Nock, the process draws from the customer development framework popularized by Steve Blank, a Silicon Valley entrepreneur based in Pescadero, California. “Blank is best known,” adds Nock, “for being a national advocate for the Business Model Canvas, of which Partnerhips Development is a key component.”
The Business Model Canvas process recognized, and continues to recognize, that startups and early stage companies are not merely smaller versions of large businesses, but rather that they require their own set of tools and processes to be successful.
Partnership development is where companies collaborate with other companies to round out their product or service offering. For example, a retail company may have many locations and be excellent at sourcing products and selling products but they are not good at transport logistics. So they partner with an outside trucking logistics company to move equipment and merchandise from store to store. “Partnership development relies on creating win/win scenarios where the two partners together bring forward a better product or service than the one company can by itself,” Nock explains, “the value add creates higher demand from customers .”
Jeff Nock has previously written at length on topics ranging from business plan development, the concept of social entrepreneurship, and market analysis, to the value of conducting periodic SWOT analyses, internal operational efficiencies, the importance of evolving culture within a company, and leadership team development.
Nock most recently spoke, however, about the importance of brand consulting strategies. According to the expert, typically, when starting out, small businesses fail to prioritize the resources needed to establish an effective brand. This happens, Jeff Nock suggests, because resources—during the early stages—are often put predominantly into working on product development and sales relationships. “Many companies, particularly in the technology space, focus on what their product does,” says Nock. “Prospective clients, though, want to know what that product can do for them,” reveals the Iowa-based business consultant.
Nock and his firm, Prescient Consulting, LLC, are based in the Johnson County city of Iowa City, Iowa. Home of the University of Iowa and the state’s fifth-largest city, it’s also the county seat of Johnson County. “The largest employer here in Iowa City by a significant margin is the University of Iowa,” reveals Nock, “followed by the Iowa City Community School District and the Iowa City VA Medical Center.”
“Iowa City,” he adds, wrapping up, “has also previously been named the third Best Small Metropolitan Area in the United States by famous bi-weekly business magazine, Forbes.”
Founder and CEO of Prescient Consulting, LLC, based in Iowa City, Iowa, Jeff Nock boasts a demonstrated history of growing nonprofit organizations, startups, and established companies alike. Skilled in business and strategic planning, branding, sales, and marketing, now-established Iowa resident Nock also holds a master’s degree in management from Colorado’s Regis University and is a specialist in management development. To learn more, visit https://prescient.us/.
Business Expert and Successful Consultancy Firm CEO Jeff Nock Explains Brand Consulting
From helping to establish brand identity for startups to evolving brands for more established companies, it is a combination of art and science when brand consulting, according to Jeff Nock. Owner and founder of a highly successful consultancy firm based in Iowa City, Iowa. Nock provides an expert look at the brand consulting process.
“In the end, why should someone want to work with your company? Your brand has to identify why you are different, better than others who provide similar products or services,” explains Nock, CEO and founder of Prescient Consulting, headquartered in Iowa City, Iowa. “Marketing is often misunderstood as simply advertising but true branding includes how a company goes about product strategy, lead generation, content, customer service, innovation, measurement, social proof, and reputation management It’s ultimately about any touch you have a with potential client or client which impacts how they feel about your company, which is your brand,” he adds.
According to Jeff Nock, typically when starting out, small businesses don’t prioritize the resources needed to establish an effective brand. This happens because people and financial resources at the early stages of companies are typically working on product development and sales relationships. Marketing is often an after thought as it is easy to throw up a website and post on social media. But in terms of establishing an effective brand, there is so much more to consider. “Many companies, particularly in the tech space, focus on what they can do. Prospective clients want to know what you can do for them,” reveals the expert.
Companies, via their comprehensive marketing strategies that incorporate every touch they have with prospects and clients, have to be consistently articulating what their business uniquely provides for their clients, according to Nock. “Whether online via website or social media, in person, via email or on the phone, companies have to consistently be sharing value added messages that enable clients and prospects to have confidence that they will be making the right decision by working with your organization,” he adds.
Regardless of what business you are in, branding is more than just your company name and logo. Your brand needs to reflect your commitment to your customers in a way that differentiates you from your competition. “Your brand needs to be memorable, in the way you want customers to think of you and it needs to be represented consistently to all of your prospective clients and customers,” he suggests.
Jeff Nock and his consultancy firm, Prescient Consulting, LLC, are based in Iowa City in Johnson County, Iowa. The city is the home of the University of Iowa and is the county seat of Johnson County. It’s also the state’s fifth-largest city. “The top employer in Iowa City by a large margin is the University of Iowa and University of Iowa Hospitals and Clinics,” reveals the local business consultant, “followed by Iowa City VA Medical Center and Iowa City Community School District.”
“The city,” adds Nock, wrapping up, “has also previously been named the third Best Small Metropolitan Area in the United States by Forbes magazine.”
Founder and CEO of Prescient Consulting, LLC, based in Iowa City, Iowa, Jeff Nock boasts a demonstrated history of growing startups, established companies, nonprofit organizations, alike. Skilled in business and strategic planning, branding, sales, marketing, and software development, now-established Iowa resident Nock also holds a master’s degree in management from Colorado’s Regis University and is a specialist in leadership development. To learn more, visit https://prescient.us/.
Iowa City-based consulting firm founder and CEO Jeff Nock outlines the importance of leadership team development in business
A leading business consultant based in eastern Iowa, Jeff Nock has a proven history of success in employing his skills in strategic planning, new product development/including software development, sales, marketing, presentation development, and more in growing companies ranging from startups to well-established organizations alike. Assisting clients of all sizes on their journey toward continued success, Nock explains the importance of leadership team development in taking a company to the next level.
“A standout leadership team development plan will ensure that your company or organization’s leaders are ready and equipped to handle the scalability necessary for growth as well as any adversity, unexpected obstacles, losses, and much more,” suggests Jeff Nock, founder and CEO of Prescient Consulting, based in Iowa City, Iowa.
Nock’s approach to leadership team development varies depending on the stage of growth a company and the culture of that company. “As companies grow, the leadership required has to evolve and this can only happen with a good leadership team development plan for existing leaders or through bringing in new leaders. From those on the ground to those in the boardroom, effective leadership team development helps to ensure not only success, but a smoother road to achieving that success, and easier transitions as roles shift, or business objectives change down the line,” Jeff Nock explains.
“Ultimately, I believe that effective leadership team development is essential for success within companies of all sizes and across all manner of industries, both in the U.S. and overseas,” suggests the expert.
According to Jeff Nock, while it is important that each individual achieve their potential as a leader, it is also important that the leadership team come together, foster the company culture, and have the diverse skill sets and experience necessary for the company to scale
“Taking the time to build cohesive business relationships across the entire leadership team is pivotal to any organization’s success. The rest of the company needs to see a leadership team that is living the company values and all on the same page when it comes to the company vision and direction ,” he adds, wrapping up, “while the founder/CEO has to set the vision and culture for a company, that vision can only be achieved if the leadership team is working together within the company culture and inspiring the rest of the company to live the same values and achieve the same vision.”
Founder and CEO of Prescient Consulting, LLC, based in Iowa City, Iowa, Jeff Nock boasts a demonstrated history of growing startups, established companies, and non-profits alike. Skilled in business and strategic planning, new product development/including software development, sales, marketing, and presentation development, now-established Iowa resident Nock also holds a master’s degree in management from Colorado’s Regis University and is a specialist in leadership development. To learn more, visit https://prescient.us/.
Prescient Consulting founder Jeff Nock underscores the importance of individual leader development and explains how the process differs from more general leadership development.
Individual leadership development, or leader development, as opposed to general leadership development, is, according to business consultant Jeff Nock, vital for senior members of staff and executives within companies of all sizes. With benefits ranging from improved intrapersonal skills to greater self-realization, Nock, who’s based in Iowa City, Iowa, shares more about the leader development process and its place in business.
“Distinct from general leadership development which focuses on the overall leadership of an organization, individual leadership development, or leader development, focuses on enabling individuals to reach their full leadership potential, however” explains Nock, a successful management consultant and founder of Prescient Consulting, LLC, based in Iowa City, Iowa, the county seat of Johnson County, home of the University of Iowa, and located at the center of the Iowa City Metropolitan Statistical Area.
While leadership development entails fostering a group’s capacity to achieve results, leader development, according to Jeff Nock, focuses on the ability of one individual’s capacity to achieve results through strengthened leadership processes. “It’s about individual skills, knowledge, and abilities,” suggests the Iowa-based business consultant.
Individual leader development, he says, is about human capital, whereas general leadership development is about social capital. “Leadership development for individual leaders in a company is an exercise in human capital,” Nock explains, “while general leadership development focuses on building relationships among individuals within a company or organization, which is considered social capital.”
A popular approach to leader development involves a two-part model, illustrating assessment, challenge, and support, before turning to a range of developmental experiences. “The first aspect illustrates how assessment, challenge, and support combine to make a leader and their team stronger,” explains Nock, “while the second part demonstrates how developmental experiences increase the ability of both leaders and their teams to learn.”
Benefits of individual leader development—or an investment in human capital—include, according to the business consultant, improved intrapersonal skills, improved self-awareness, and improved self-motivation. “Leader development,” he adds, “also pushes interpersonal skills, as well as intrapersonal skills, to better an individual’s societal awareness and, thus, their social skills.”
One of the primary goals of successful leader development, Nock points out, further to the above benefits, is improved self-regulation. “Sound self-regulation, coupled with solid intrapersonal and interpersonal capabilities, I believe, serve together to form one of the key foundations for true competence in business, particularly for senior executives and other leaders within a company, which is why leader development for individuals is, to me, vital for success,” he adds, wrapping up.
Founder and CEO of Prescient Consulting, LLC, based in Iowa City, Iowa, Jeff Nock boasts a demonstrated history of growing startups, established companies and nonprofit organizations, alike. Skilled in business and strategic planning, sales, marketing, and presentation development, now-established Iowa resident Nock also holds a master’s degree in management from Colorado’s Regis University and is a specialist in management development. To learn more, visit https://prescient.us/.
Iowa City-based business consultant Jeff Nock shares an expert insight into the importance of culture in business, and why cultural evolution is essential to success
The underlying beliefs and behaviors which guide how individuals act within an organization define that, organization’s and that is at the core of success or failure, according to Jeff Nock. A business consultant based in Iowa City, Iowa, Prescient Consulting founder Nock looks in detail at the importance of evolving culture within business.
“While companies have always had cultures, the term “corporate culture” developed in the early 1980’s,” explains Nock, speaking from his office in Iowa City, Iowa.
Today, culture is widely believed to be a major deciding factor in whether a company or other organization is successful. “When people spend 40 or more hours a week in an environment they want that environment to be rewarding. Business leaders who take the time to curate a thriving corporate culture attract the strongest employment candidates and highly motivated employees create great products and services that ultimately customer wan .”
While establishing a great company culture is important at the startup stage, it is also important to continually evolve the corporate culture as the world evolves, so, Jeff Nock believes, companies who stay in tune with the sociological and technical advances in the world can adapt or even lead the charge in creating a corporate culture that is innovative and enables employees to be innovative and create great value for customers, Iowa-based Nock points out. “Increasingly, research shows that while compensation is important particularly at the hiring stage, many employees consider the culture they work within to be the most important factor of whether they stay with the organization or move on to a better culture,” adds the expert.
According to Jeff Nock, there are a handful of simple steps that can be taken, periodically, to ensure that a company’s culture stays relevant, up to date, and in line with the leaders’ vision and values.
“It is possible to measure culture success within the organization and ensure that people are buying into and contribute to the culture,” says the Prescient Consulting founder and CEO, “and link culture with accountability at all levels, from the CEO up to the front line performers.”
It’s vitally important, Jeff Nock stresses, that all those in the organization relate with and buy in to the company culture. “Similarly, culture must be aligned with a company’s brand,” he adds, “resonating both with employees, customers and partners alike.”
Nock also suggests closely measuring the impact of any cultural changes over time. Establishing cultural changes, he says, can be a process that takes months or even years, depending on the size and structure of a business or organization.
“However long the process takes, though,” adds Nock, wrapping up, “it’s important to both understand and to be able to demonstrate the positive correlation between culture and business results.”
Business consultant Jeff Nock reveals how best to evolve a company’s brand and the importance of doing so.
Founder of Prescient Consulting, LLC and a veteran of the business world with a demonstrated history of growing established companies, startups, and non-profit organizations alike, Jeff Nock, based in Iowa City, Iowa, is, in addition to a management development, strategic planning, sales, and marketing specialist, also an expert in branding. Speaking from his Iowa City office, branding expert Nock talks openly about brand evolution and the importance of the process.
“All brands must evolve to stay relevant year after year,” says Nock, a management development specialist and Regis University graduate with more than 30 years of executive leadership experience. “Not even the world’s biggest businesses can expect to rely on a brand which isn’t constantly evolving, at least to some degree,” he adds.
What’s important to remember, however, is that the nature and extent of any such evolution can vary massively, according to Nock. “Often I’m asked, ‘How much change is too much for a brand?'” says the expert. “At the same time, ‘How much is too little?’ is an equally common question when it comes to brand evolution,” he notes.
Business consultant Nock believes that it’s about finding a sweet spot. “A brand must remain fresh; it must evolve,” he suggests, “but it must also retain a reassuring degree of familiarity.”
Nock says it’s essential to keep a brand’s purpose, principles, promises, and values. “Very, very little evolution is often needed here,” he explains. “Instead, it’s about maintaining these points, while evolving in other areas,” adds the consultant. “Instead,” he continues, “consider altering where a brand is positioned, its wider audience, and its use of language.”
It’s not, Iowa-based Jeff Nock says, about potentially or possibly alienating existing customers, clients, or users; rather, it’s about evolving to appeal to a wider audience. “It’s about staying fresh; it’s about staying current,” he adds.
A brand’s story should also evolve as the organization does, the business consultant points out. “While core beliefs and a brand’s message should remain consistent, it’s important to reflect growth,” Nock suggests.
“Ultimately, brands must continually evolve to some extent,” he adds, wrapping up, “or they risk fading, at best, or, at worst, dying and disappearing from the market completely.”
Based in Iowa City, Iowa, founder and CEO of Prescient Consulting, LLC Jeff Nock boasts a demonstrated history of growing nonprofit organizations, startups, and established companies alike. Skilled in business and strategic planning, sales, marketing, and presentation development, now-established Iowa resident Nock also holds a master’s degree in management from Colorado’s Regis University and is a specialist in management development. To learn more about Jeff Nock and Prescient Consulting, LLC, visit https://prescient.us/.
Prescient Consulting, LLC founder and Iowa City-based business expert Jeff Nock demonstrates the importance of senior leadership teams.
With effective leadership widely accepted as essential to organizational success, the increasing complexity of today’s modern corporate world is, according to business consultant Jeff Nock, making developing successful leadership teams within many organizations tougher than ever before. Founder of Prescient Consulting, LLC, based in Iowa City, Iowa, Nock details how best to develop successful leadership within new and established organizations alike.
“With personal accountability and self-management becoming the norm in recent years, developed leadership teams are, in turn, becoming less and less prevalent,” says Nock.
The way in which an organization’s most senior members work together is, however, he believes, pivotal to business success. “As the modern corporate world becomes increasingly more complex, it’s now more important than ever to establish successful leadership teams within organizations of all shapes and sizes,” adds Nock.
According to Jeff Nock, how an organization’s senior executives and other leaders work together is often fundamental in either failure or success. “An organization’s leadership team should be its primary driving force,” adds the expert, “responsible for everything from executing business strategies to motivating employees to achieve their potential and live the culture.”
Of employee morale, for example, Nock suggests that where members of staff are disengaged or feel ignored, it leads to a decay of culture. “Every aspect of leadership, therefore, has the potential to make or break a business, which is why it’s so important that every organization has a developed leadership team in place,” he adds.
Nock places what he calls ‘collective responsibilities’ high on the list of fundamental business practices required for long-term success. “It’s about structure and collective responsibilities,” suggests the business consultant, “and, with structure and collective responsibilities, comes a highly effective working environment, something which, today, is often lacking, particularly among small and midsize businesses.”
From a common vision to shared goals and priorities, Nock believes that developing an effective leadership team within an organization begins with trust. “From there, it’s about values, communication, and decision-making abilities,” he adds, “as well as accountability, successful conflict management, and much more.”
“The list,” Nock continues, “goes on and on, which is where an experienced business consultant, skilled in leadership team development, can prove vital.”
From brand evolution to leadership development, Jeff Nock’s Iowa-based consulting firm has helped more than 250 companies build and execute successful strategic and business plans in recent years alone. “With more than three decades of executive-level experience in growing startups, nonprofit organizations, and established companies alike, allow Prescient Consulting, LLC to help you achieve your most important business goals by ensuring that your leadership team is working as effectively as possible,” he adds, wrapping up.
Iowa City business consultant Jeff Nock offers professional insight into how consultants help small to mid-size businesses improve operationally.
A leading management development specialist in Iowa City, Iowa, Jeff Nock explains how business consultants can help companies internally improve operational efficiencies, from creating effective business processes and streamlining communications, to improving employee retention and developing long-term strategic plans.
“Consultants can assist companies with improved internal operational efficiencies by helping to create effective business processes with partners, streamlining communications with customers, improving employee retention and satisfaction, developing long-term strategic plans, and more,” reveals Jeff Nock, founder of Prescient Consulting, LLC, based in Iowa City, Iowa.
To remain competitive, businesses must, he says, boost operational efficiencies wherever possible. “It’s especially important for small and midsize businesses to operate efficiently,” reveals Jeff Nock, “as they typically have to run on much more limited resources than other, larger enterprises.”
“In an increasingly competitive business arena and world in general,” he continues, “small and midsize businesses, in particular, must boost operational efficiency wherever humanly possible.”
According to Jeff Nock, qualified business consultants are not only highly experienced in helping companies with internal operational efficiencies, but they’re also an ideal choice for small and midsize firms operating on more limited resources than larger players. “Any company which isn’t operating efficiently will eventually go out of business,” suggests the expert. “It’s as simple as that,” he adds.
Businesses must, then, he says, take internal operational efficiencies seriously. “Qualified consultants can offer invaluable insights and solutions,” adds Jeff Nock, “for businesses of all sizes, including small and midsize companies who, most often, must operate with maximum efficiency in order to truly thrive.”
Jeff Nock has previously written at length on the topic and concept of social entrepreneurship, has offered proven tips on how best to scale a business, and has shared years of business plan development knowledge.
He’s also spoken openly about market analysis, the value of conducting periodic SWOT analyses, and has provided a behind the scenes look and insight into business at Prescient Consulting, LLC.
From software application development to brand evolution, the Iowa-based consulting firm has helped more than 250 companies to build and execute successful strategic and business plans and improve operational efficiencies in recent years alone.
“At Prescient Consulting, LLC, we offer more than three decades of executive-level, growth-oriented leadership experience for growing startups, nonprofit organizations, and established companies alike,” adds Prescient Consulting, LLC founder Jeff Nock, commenting from his office in Iowa City, Iowa, wrapping up.