Posts Tagged ‘products’

The Danger of Chasing Every Business Idea

Have you ever considered the danger of chasing every business idea? It’s easy to get swept up in the next hot idea. If you are a small business this is for you. Read the rest of this entry »


The Risk of Constant Change

Change is sometimes unavoidable and necessary yet not always the best thing. While it can be good, the risk of constant change is something to consider. Read the rest of this entry »


Unfocused Business

If you’ve ever tried to convince someone of the merits of your business idea, then you may have experienced the pitfalls on an unfocused business. If you adequately thought things through in advance you may have avoided that unfortunate experience.

What Am I Talking About?

Many of you have probably watched the TV show where entrepreneurs Read the rest of this entry »


Unplanned Obsolescence

We’re all familiar with the concept of planned obsolescence, but what about unplanned obsolescence. Planned obsolescence is when a product is designed to have only a limited life because it becomes outdated due to loss of functionality, appearance, customer appeal, or perhaps simply wears out. In general, planned obsolescence is somewhat intentional, the idea being that customers will either have to or desire to replace a product when is becomes obsolete. Read the rest of this entry »


Your Company is Not the Competition

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Scope Creep

Think about the last time you bought a television, computer, or appliance. Did the sales person try to sell you an extended warranty? Of course they are trained to ask that as that cross sell is highly profitable since the likelihood you will make use of the extended warranty is very small. Many people even forget they have the warranty. So what does this have to do with the title of this article, Scope Creep?

What Business Are You In?

In this case the question “what business are you in” is not talking about the idea that your real product is not what you Read the rest of this entry »


Back to Financial Basics

No matter the issue it is easy to overly complicate anything, and this applies to business. Over time it seems that many businesses morph into something almost unrecognizable from what a company started out as. In the process financial basics are a likely casualty. Let’s take a closer look.

Not Always Bad

Of course, this process can be a good thing if the business has encountered changes that must be faced, such as different customer tastes, the competitive environment, the need for new products, and new ways to interact with customers such as e-commerce. That is just common sense and not really the issue I’m concerned with here.

Who Is Driving Change

Even if the changes are desirable and necessary, it is important to consider Read the rest of this entry »


Business Plan Framework

My last posting, The Flexible Business Plan, discussed the benefits of having a simple business plan that easily modified rather than a complex and detailed plan. Let’s now take a look at a way to do this.

A Little Anatomy

As you certainly know, a doctor doesn’t just study the outside of a human body. They need to know what is inside, including the skeletal framework on which everything hangs. Artists do the same thing when they study anatomy to understand how the skeletal structure impacts appearance of the rest of the body. With that understanding the artist is able to more accurately depict the human form.

A business plan has a skeleton as well that I refer to as Read the rest of this entry »


Diversify to Lower Risk

Your business may be performing well, but there may be a hidden risk you haven’t considered.

Changing Times

In 1964 Bob Dylan recorded a song called “The Times They Are A-Changin”, and yes, changing really was misspelled in the title. Forget about the words to the song as it is the title that matters here. Nothing stands still. Over time everything changes. That is a vital fact to grasp if your business is to survive.

But We Have a Great Product

While your product may be great today, will it Read the rest of this entry »


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