This episode goes deep into understanding your customers as people instead of just abstractions and how to make better business decisions.
For the past 20 years, Christian Madsbjerg has worked as a management consultant. He writes, speaks, and teaches on the practical application of the Human Sciences and his work has been featured in publications such as The Wall Street Journal, Financial Times, The Washington Post, Der Spiegel, and Bloomberg Businessweek.
His latest book, Sensemaking: The Power of the Humanities in the Age of the Algorithm, was released in the spring of 2017 by Hachette Book Group. His book Moment of Clarity, co-written with Mikkel Rasmussen and published in the fall of 2014, has been published in 15+ languages. Christian studied philosophy and political science in Copenhagen and London and has a Masters from the University of London.
- Who is Christian Madsbjerg?
Christian always thought he would be an academic but his experience in university put him on the different path towards entrepreneurship instead.
According to research, only 10% of decisions are made based on data within billion dollar businesses. Christian always wondered why so many businesses made so many bad decisions when data is always available. This lead to his consultancy and the focus of his writing.
- Most Entrepreneurs Are Guessing
All great businesses are found on an insight into how to serve a group of people in a meaningful way.
Looking at people and listening to them is better than asking them.
- Understanding Your Customers
You can get a really good understanding of your customers by going to the area where they lead their lives and observe. Engage in their life and try to walk a mile in their shoes.
Instead of guessing, spend some time with your future customers and develop a hypothesis.
- Increasing Your Odds Of Success
Innovate on many different things at the same time. The same product can seem very different if you change a few other things.
CEO’s of the modern corporate world are so separated from the average customer that the people they serve become abstractions. Without data, they have no way to make good decisions.
Try not to look at people as numbers, but as individuals. Choosing a group and then understanding it should be the target. Go to the savannah instead of the zoo.
- Your Customer Has To Be The Frontend Of Your Business
Reference: Sensemaking: The Power of the Humanities in the Age of the Algorithm, Christian Madsbjerg
The Moment of Clarity: Using the Human Sciences to Solve Your Toughest Business Problems, Christian Madsbjerg
- Christian’s Takeaway
Get strength from understanding the people you serve. Get inspired by going out and meeting the customers you serve.
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