new-year-new-me-transformation

Gyms aren't the only business able to get in front of the 'new me' mindset. Source: Unsplash/Jonathan Borba.

Strategy
Harvard Business Review

How your business can cash in on the ‘new year, new me’ mindset

Authors
Harvard Business Review
Business Advice
15 minute Read

The end goal of people who go to fitness centers isn’t access to the equipment or trainers; it is to get in shape. The overriding reason people go to their doctor or check into a hospital is not to obtain drug prescriptions, a medical examination, or therapeutic procedures; it is to get well. And students’ primary motive for going to college is not to buy a lot of books, have their papers and exams graded by professors, or even have the classroom and all-around college experience; it is to gain skills or expertise and pursue a career.

But all too often fitness centers, medical providers, colleges, and organisations in many other industries seek to distinguish themselves only on the quality, convenience, and experience of what they sell. It’s not that those things aren’t important. But they matter only as means to the ends that people seek. Too many organisations lose sight of this truth. Even when they do promote what they sell in relation to customers’ aspirations, they rarely design solutions that allow people to realise them. Instead, individuals must cobble together what they think they need to achieve their goals — for example, a trainer, a particular diet, and a support network to lose weight.

Even though we’re all filled with hopes, aims, and ambitions, significant change is incredibly hard to accomplish on our own. Enterprises should recognise the economic opportunity offered by the transformation business, in which they partner with consumers to improve some fundamental aspect of their lives — to achieve a “new you.”

Creating economic value from transformations requires first a full understanding of what it means to be in the transformation business.

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