Inspire Team

Pain and Gain

by for .  
#intro to entrepreneurial leadership
30 - 45

Goal

The "Pain and Gain" activity aims to familiarize learners with local businesses in their community and deepen their understanding of the needs they address and the value they provide. By exploring the pain points and gains associated with these businesses, participants will gain insights into the importance of value delivery in entrepreneurship.

Attachments

Materials

    Instructions

    1. Introduce the activity and its purpose to participants, explaining that they will be exploring local businesses and analyzing the pain points they address and the value they provide.

    2. Provide a list of local businesses from the community, including a diverse range of industries such as retail, service, hospitality, or technology. Ensure that the businesses selected represent a variety of customer needs and value propositions. See the Tips for Localization section for ideas from your region.

    3. Divide participants into small groups and assign each group a specific business from the list.

    4. Instruct participants to research the assigned business using available resources such as websites, social media, or online reviews. They should focus on understanding the following:

      1. Identify the pain points or needs that the business aims to address. What problem or challenge is the business trying to solve for its customers?

      2. Analyze the value the business provides. What benefits, solutions, or experiences does the business offer to its customers? How does it add value to their lives?

      3. Explore the ways in which the business delivers its value. How does it engage with customers, meet their needs, and differentiate itself from competitors?

    5. Encourage participants to discuss their findings within their groups, sharing their insights and perspectives on the identified pain points, value propositions, and delivery strategies of the assigned business.

    6. Reconvene as a whole group and invite each group to share their analysis of the business they researched. Encourage open discussion and invite participants to ask questions or provide feedback.

    7. Conclude the activity by asking participants to reflect on how the insights gained can be applied to their own entrepreneurial or problem-solving endeavors. Encourage them to consider how they can address local needs or create value in their community.


    Background

    Preparation

    • Create a list of local businesses that represent various industries and address different customer needs.

      • Ensure all of the businesses or organizations selected are in operation and can be found online or on social media.

    • Familiarize yourself with the selected businesses and their value propositions.

    • Prepare any relevant research materials or resources that participants can access during the activity.

    • Compile the businesses into a slide deck or miro board for visual support. 

    Technology Considerations

    • In-person implementation: Ensure access to a computer or mobile device with internet connectivity for participants to conduct online research.

    • Virtual implementation: Share the list of local businesses and relevant research materials through a digital platform or screen sharing. Use breakout rooms for small group discussions.


    Additional Context

    • Emphasize the importance of supporting local businesses and the role they play in the community's economy and development.

    • Encourage participants to think critically about the pain points and value provided by businesses, fostering a deeper understanding of entrepreneurship and customer/client/community-centric approaches.


    Tips for Localization

    • Customize the list of local businesses to reflect the specific community where the activity is being conducted, ensuring relevance and familiarity for participants. See Appendix A for a list of localized examples.

    • Incorporate local examples or success stories of businesses from the community to enhance engagement and connection.

    • Consider cultural or regional nuances that may impact the pain points and value provided by businesses, allowing participants to explore the context-specific challenges and opportunities.


    Ways to Expand Upon Activity

    • In-person cohorts: Consider incorporating field visits or interviews with business owners or customers, if feasible. This hands-on approach can provide more in-depth and firsthand insights into the business's operations, challenges, and customer experiences.


    Debrief Questions

    • What did you discover about the problems addressed by these businesses? How do these issues affect customers and the community?

    • Talk about the value provided by the businesses you looked at. How do they help meet customers' needs or improve their experiences?

    • Think about how these businesses provide their value. Which methods or tactics caught your attention? How do they set themselves apart from competitors?

    • How can understanding the problems businesses are trying to solve through unique solutions help new entrepreneurs find opportunities and create their own ventures?

    • Do you have any personal thoughts about the significance of focusing on customers and providing value in entrepreneurship?


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