As entrepreneurs and leaders, we often talk about employing a customer-focused approach to our business. Customer centricity has been part of commercial vocabulary since the late 90s. In fact, if you browse through the online vision and mission statements of just about any global company, you’ll notice it’s standard that most of them have incorporated a “customer first” commitment into their list of core values or driving principles.
However, upon further review, only a portion of these can claim that they know with certainty how they have ensured steady growth for their customers. While most start their collaboration with the intent of taking their customer’s business to the next level, the lack of true customer insights and the failure to put their customer’s business at the center of their business, jeopardizes the process.
The premise of contributing differential customer value is what compelled Keith Pigues, Founder and CEO of Luminas, to start asking impactful questions like, “Do your customers make more money doing business with you?” His goal was to help companies understand exactly how much value they brought to the table for their customers and specifically how much value they delivered compared to their customer’s next best alternatives.
Having served as the Chief Marketing Officer for several large corporations, Keith’s real-world understanding of business is unparalleled. Based on his 25 years of executive leadership experience he wrote Winning with Customers: A Playbook for B2B with co-author and business science thought leader, Jerry D. Alderman. In the book, these two experts share case studies and shed light on methods that help organizations to develop strategies that will create opportunities and generate momentum for organic growth and profitability.
Following the success of the book’s launch, Keith gained recognition from several industry leaders, including Jeff Immelt and the leadership team at GE. From this experience, he discovered that helping companies gain internal alignment and identify their differential proposition, was a game-changer that had the power to impact their long-term growth strategy.
It was not long after working with Jeff and the GE team, that Keith founded Luminas Strategy. The name of the company, Luminas, is at the heart of what they do for every client – helping to light the path to profitable growth; shining light on the areas where organizations are truly delivering differential value to customers and stakeholders, as well as where they are not.
What was the journey like?
The road to now has been rewarding. As it is for every entrepreneur, the journey has had its ups and downs along the way, but Keith still considers it exciting. Now when he looks back, his only wish is that he would have started much earlier.
So far, Keith’s professional journey has been filled with wonderfully diverse experiences including “ten relocations, working for companies in five industries, serving as a professor and business school dean, advising company leaders and founding a management consulting firm.” However, looking back over all the changes a few things have remained constant – continuous learning and a commitment to solving important business problems that matter.
Keith refers his intent to solve complex problems as his primary motivation. He is constantly inspired by each new opportunity to work on critical business problems and “deliver solutions that are really unique and incredibly valuable for customers.” This work also gives him the chance to work alongside smart, passionate and committed people – colleagues and clients, alike. As an entrepreneur, he could have never asked or imagined for anything more.
The biggest challenge, or roadblock, for Keith was finding the right business model, one that would “serve clients consistently with excellence and provide a differential experience for our consulting teams.” The biggest learning: when you find something that works, work it and be patient. Success takes time.
Luminas Strategy
Luminas is dedicated and driven to understanding and realizing the priority growth opportunities for each client. The Luminas team sits at the table next to their clients and works closely with them to identify the problems they are trying to solve and to understand the differential value they deliver to their customers. Luminas takes a methodical approach to help clients break through growth challenges. The team is committed to delivering excellence and being flexible to adjust for changing client needs. What’s the key to this? Regular, ongoing communication.
Luminas helps to facilitate capability development and culture shifts that advance their clients’ customer centricity and ultimately accelerates profitable growth. They have an unrelenting focus on delivering a mutual economic benefit to their clients – and their clients’ customers and stakeholders.
What are his plans for the future?
There’s a big opportunity for companies to restart growth this year.
The last several months have been a wake-up call for many organizations. Industries have been forced to evolve with changing times and technologies.; Keith and the Luminas team believe the future is bright, with growing demand for their expanding services. As many organizations seek to innovate – accept digitalization, prioritize data and develop new strategies post-Covid, the need for value proposition development support has never been more important.
Taking an outside-in approach and exploring the key drivers that are essential to accelerate organic growth is critical for every organization. Luminas helps organizations gain critical insight into their differential value proposition, by validating with customers. From there, they can prioritize a list of future opportunities to create more value.
Keith on entrepreneurial roles and leadership
Only a fraction of the entrepreneurs that step out and follow their dream each year succeed. Resilience is the key. Keith agrees, “The road is never easy and it is important for entrepreneurs to bounce back from setbacks and keep moving forward – again and again.”
Entrepreneurs must also learn to be flexible and energetic. Knowing different aspects of a business helps in charting a proper course of action. According to Keith, “A dynamic entrepreneur remains intensely focused on customers, employees and market opportunities – while at the same time adapting to changes and seizing new opportunities.”
As a leader, Keith continuously strives to achieve results by working with a close-knit team of talented people who have in-depth knowledge of the market and trends. This approach helps him to maintain a customer-centric approach and anticipate market changes and demands in order to drive growth and develop profitable strategies and plans.
Finally, it’s essential to have fun! Choose to do what you love; help solve meaningful and rewarding problems and work with good people.
