What problem does your business solve?

June 08, 2021

by a searcher from Bard College in New York, NY, USA

Follow up thoughts:

Why do customers choose to come to you?
Is the value prop that your business offers significant enough that your customers will refer others to your product or service?
Is customer retention important?

2 Likes

4 Replies

102 Views

Replies

Reply by an intermediary
from Wilmington College in Cincinnati, OH, USA

Doug, not many know the rubber industry, it's not fashionable but it is a big part of everyone's lives. There is a huge amount of waste rubber in injection molding of tires to gaskets that is called scrap technical rubber. Much of this goes to landfills or ground up for landscaping much like tire rubber. Relaston using it's IP can take this technical rubber that most manufacturers pay to dispose of and process it into virgin synthetic rubber that that same manufacturer can use again in their mold applications. We can process tires but only truck tires because of the rubber % and quality. We can also do the same with thermoplastics, so to answer your question, Relaston solves the scrap rubber problem first and foremost and secondly the thermoplastics in the environment problem. A mfg can save as much as 40% on our virgin rubber replacement and not pay disposal fees ever again. They can just give their scrap to Relaston and we will sell their own scrap back to them. With our IP we make both rubber and thermoplastic into a commodity that has waste value much like aluminum and other metals. It has some waste value now but you have to collect scrap from manufacturers and receive fees for disposal more often than for reclamation. I think you can come to your own conclusion on the other questions based on my rather lengthy answer to the first question.

Reply by an intermediary
from The University of Chicago in Chicago, IL, USA

There are 3 important questions that a buyer should ask when looking at a business. Your question "Why do customers choose to come to you?" is the second most important question..
A "Yes" answer to your remaining two questions is clearly good, however, even a "No" answer is good. "Retention" is relevant only if the customer's purchase frequency of the products/service is high. If you selling a house, retention is less, or not, relevant.

+2 more replies.

Join the discussion