It Doesn’t Have To Be A Great Product

A common fallacy is that it is a great product that makes a great company or launches one. If that had been the case then we would not have many great companies of today like Sony, Hewlett-Packard, Marriott, Motorola, Honda, Disney, Wal-Mart, Nordstrom, Merck and Procter & Gamble. None of the founders of these companies waited for a great idea to come to their mind before they took first step in building their company

Partnering In Business

Success in life and business does not come by toiling away alone. One way or other successes are the results of joint efforts of more than one person or entity though it may be possible that one of them reaps most of the rewards.

One Man’s Problem, Another Man’s Opportunity

Most businesses in early stages are resource challenged. Money is in short supply, equipment and supplies are difficult to procure and most important of all the customers are hard to get. Business developers and entrepreneurs in the early stages of the venture spend most of their time chasing money and customers. They need to get done more with less and capital seems to be the most important thing at that time.

Strait Of Gibraltar Of Business

To create and exploit high brand-equity one needs to employ “Pull-Marketing” strategies, which are designed to bring customers to your brand based upon its attractiveness as compared to “Push-Marketing” strategies, which are designed to push your products through the distribution channel and make it easier for customers to select your brand.

Discovery Driven Planning

Developing a business plan for an existing line-of-business (LOB) is quite different than planning for a new initiative. To plan for an existing LOB, one could extrapolate future results from past experiences. But for a new initiative – whether a new business, new market or new product – extrapolation rarely works, because, the predictions for…

The Power of One Percent

In these turbulent economic times businesses are facing a myriad of issues and problems that are putting the squeezes on their financial conditions. Maintaining and improving profitability in the increasingly price-driven markets has become quite challenging. And the matters are not helped with the growing popularity of the mantra ‘Big is Better’. So what would one percent do in these conditions?