What does it mean to “understand the commercials”? For a lot of people, it’s “I can read a P&L” or “I know what the targets are”.
But for technical specialists, or any other strategist, a broader understanding is required. Who are our competitors? What objects do prospects have to our products? Who are our biggest customers and why did they buy from us?
(And there’s another whole set of issues for the public sector and non-profits: how can we afford to service our constituents, for instance.)
A recent research project showed us that stakeholders see “a lack of commercial acumen” as a key stumbling block for technical experts who want to do a great job for the business.
Can you pass the Market Context Canvas test? All you have to do, without visiting the Internet or checking on what the organization’s values are on your phone, is to answer the questions in the attached model.
It’s part of our upcoming guidebook to Expertship, How to be a Master Expert. Visit expertship.com to learn more.