1729: Who is the Customer in Higher Education by Dr. Jeff Cornwall on Strategy Re-Design

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[00:01:00] Das ist Optimal Work Daily. Wer ist der Kunde in Higher Education? von Dr. Jeff Cornwall von Dr. JeffCornwall.com Just who ist der Kunde? Das ist eine Frage, die kommt in alle corners der Kunde. Ist es die Student? Ist es der Eltern? Ist es die Familie? Ist es die Community und die Böder Gesellschaft? Wie ist das? Als ein entrepreneur, das Frage bleibt mir mehr als ein bisschen unsettelt. Wenn ich nicht weiß, wer mein Customer ist,

[00:01:30] habe ich keine Chance von Erfolg in der Markt. Wie kann ich deliveren was das der Kunde wirklich wirst? Wie kann ich effektivt kommunizieren zu den Kunden, was ich offer? Wie kann ich strategisch sette Prices? Wie kann ich die Produkt oder Service zu den Kunden die way sie wollen? Wie kann ich es möglich ist, wenn ich nicht wirklich sicher bin, wer ist meine Kunden. Das ist nicht nur die Unternehmen in der Kunde, die Leute in der Kunde getmerkst. Das ist die Kunden, die Leute in der Kunde zu finden.

[00:01:56] Das ist eine sehr wichtige Rolle für viele Unternehmen in den verschiedenen Unternehmen. Ich habe fast eine lange Jahre als ein Unternehmen in der Kunde. Ich habe das gleiche Frage in der Kunde. Ist das Kunde unsere Patient? Die Kunde die Arbeit für die Patientin? Die Insurance und Managed Care Unternehmen die entscheiden, wie sie das Kunde bekommen bekommen bekommen bekommen? and how much of it they get? It can get to be very confusing for even the most experienced entrepreneur. A false choice.

[00:02:25] The real answer to the question of who is our customer is actually rather simple, and at the same time, incredibly complex. A customer includes those who choose our product over our competitors, pay for the product, and ultimately consume it. Sometimes this is all the same person, but often, it is not. For example, think about a product as simple as children's breakfast cereal. The distributors and retailers choose whether or not to put our product into their stores. They need to be convinced that the product

[00:02:54] will move quickly off their shelves. Their business model depends on a high volume of sales and rapid inventory turnover. Certainly, the power to make the decision to put our cereal in their stores makes them a critical customer. If we can't sell to distributors and retailers, our business is quickly dead in the water. But that's only the first step in selling our cereal. Children need to want our product, too. They are attracted by brightly decorated boxes, sugary ingredients, and toys inside the box.

[00:03:23] Children nag and beg their parents to buy it, so they are customers as well. Finally, the parents make the choice to pull our cereal off the shelf and pay for it. They are concerned about things like nutritional value and price. So just who is the customer of our cereal? They all are. To be successful in the marketplace of breakfast cereal, we need to develop and produce a product that the stores will stock, the children will want, and the parents will pay for. We need to sell to each of these customers

[00:03:53] in very different ways. In addition, we can't just choose one of them as our customer. They all have to decide they want our cereal for us to generate sales. To survive in the market, we need to address the factors that lead all of these different customers to want our cereal and communicate with them effectively to let them know we are worth their economic attention. Multiple customer segments. In the vernacular of entrepreneurship, we would describe selling cereal as a business model with multiple customer segments.

[00:04:23] Success depends on our ability to serve all of the various customer segments, not try to discern which one matters the most. The same is true about higher education. Traditional academics would prefer to focus only on the most noble definition of who we serve. Our role is to contribute to an educated and enlightened society. Others, particularly those who teach in the professional schools within universities, view their role to be one of satisfying the needs of the employers who hire our alumni.

[00:04:53] Many in university administration put their emphasis on the student as the customer. The reality is that if we do not pay attention to what attracts students to our schools, what encourages parents or students to pay for the education we deliver, and what make employers want to hire our graduates, we will not remain a viable player in the marketplace of education. We cannot put our emphasis on one segment at the exclusion of all of the others. It is incredibly challenging to balance

[00:05:22] the often conflicting wants and needs of our various customer segments. In addition, higher education has become highly competitive as universities seek to expand capacity. Many experts predict a significant failure rate of institutions of higher education over the coming decade. For example, Clay Christensen of Harvard University continues to predict that up to 50% of universities operating today will not be around by 2030 due to demographic and economic changes, decreasing demand for traditional

[00:05:51] higher education experiences, and technological innovations in alternative education delivery. To survive, universities must be able to compete. The first step in being a successful competitor is clearly meeting the needs of all of your market segments, no matter how diverse and seemingly contradictory they may be. You just listened to the post titled Who is the Customer in Higher Education? by Dr. Jeff Cornwall

[00:06:20] of drjeffcornwall.com. What does it take to lead like a superhero? Find out on the Superhero Leadership Podcast, hosted by Marvel's former CEO and legendary turnaround expert, Peter Cuneo. Each week, Peter is joined by top performers from business, media, and beyond, leaders who have mastered the art of impact, resilience, and vision. Together, they explore Peter's 32 leadership essentials, revealing what it really takes

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[00:07:17] wherever you get podcasts. And thank you to Dr. Jeff for giving us permission to narrate from his blog today and regularly here on the show. Dr. Cornwall has spent more than 40 years as a serial entrepreneur and teacher of entrepreneurs. In the 1970s, he started several small businesses and was involved in various family ventures as well. Then in the late 80s, following several years in academics, Dr. Cornwall co-founded Atlantic Behavioral Health Systems in Raleigh, North Carolina,

[00:07:47] and spent nearly a decade leading the company as president and CEO. After growing to more than 300 employees, he and his partners sold most of their healthcare holdings. And after the sale, Dr. Cornwall decided it was time to return to the classroom to share his experience and knowledge with aspiring entrepreneurs. Dr. Cornwall still remains active as an entrepreneur with the digital content venture he co-founded in 2014, Entrepreneurial Mind LLC. So plenty of experience there

[00:08:15] and lots to share with us here on the podcast. And you can come by drjeffcornwall.com to learn a lot more. But I think that's going to do it for today. I thank you so much for subscribing and being here with me each and every day. And I will see you right back here tomorrow where your optimal life awaits.