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  • Suggest You - Love Is Blind: Product Planning With Your Eyes Open

    How to Overcome a Bad First Impression
    Have any of these situations happened to you? Forgetting your client’s name, unintentionally insulting a co-worker, spilling coffee on your boss, not recognizing an old friend, drinking too much at the company party, sending a racy e-mail to the wrong person, or asking a woman’s due date when she’s not pregnant – ouch! You never have a second chance to make a first impression, so what happens when that first impression is a negative one?In a perfect world none of these things would occur, but the truth is, we all make mistakes. Effective communicators are not only aware of how their actions impact others; they also know how to respond in uncomfortable situations. If handled properly, flubs can actually serve to strengthen your image and help you gain respect. If you’ve committed a social faux pas here
    None. Just be as creative as possible within the parameters of your chosen market.

    Step 2: Select the Best Concept
    Examine all the ideas generated in Step 1 and reduce the number of new concepts to a manageable size. Rank each new product idea by a set of criteria customized to your company's strategic objectives. Some examples of important criteria are:
    • Production / Technology Capabilities. Competitive / Legal Environment
    • Financing Issues
    • Marketing Requirements
    Critical Question: Is the product compatible with company resources and objectives? If the answer is no, y

    How To Choose The Best Software For Maintaining Company Control
    Who Holds the Reign of Control?That question is a double-edged sword because without the right software you don't have "Hands On" to anything, much less control. As a matter of fact, if you are not running the right time and expense tracking software, not only do you not have control, but chances are you won't foresee a critical problem arising until it is already too late!In order to maintain control of all the critical aspects of your company, you need to have real time access to the time, project and cost management numbers. If production depends on a critical decision of how you realign resources and employees, you don't have time to thumb through reams of reports or to try and cultivate new ones from various software applications. You need critical data right now from a project tracking software
    You're sitting at your desk, and suddenly it hits you; a breathtakingly beautiful idea for a new product, that "one and only" offering to catapult your company into instant success. You know it will work. You know everyone will want to buy it. Even your family loves the idea. You invest a good deal of time and a substantial amount of money developing and introducing this product you love, but a year passes and not one unit sells.

    What at first seemed like an exciting, profitable new concept has become an extremely expensive, disappointing undertaking for your company. How could this have happened?

    Quite simply, you were blinded by love and you fell for the wrong product. More than a mere business decision the product became a powerful new passion for you or your company's product development team. The obsession for this new product was so strong that normally pragmatic business people ignored logic to pursue the glittering profits they felt it promised. It's not an unusual problem. Actually, it happens to 80 percent of new products and it's not exclusive to small businesses. Remember "new" Coke, McDonald's McLean burger and the DeLorean?

    What can your business do to avoid the "love at first sight" new product mistake? Here's how to identify the proper, and profitable, product needed for your business expansion.

    A Proper Product Planning Process

    We have combined a number of existing new product development systems into the following practical process. We explain each step in the process below and follow each step with a critical assessment question. This system can help you design a new product offering for your company with less risk and more control.

    In the process, make sure you create a cross-functional product development team that includes representatives from sales, engineering, operations, marketing, finance, executive, legal and other areas critical to new product success. Also, guard against any one member of the team dominating the discussions or decision-making process. All team members must honestly critique and support the project, or the new product's chances of success are minimized.

    Step 1: Search for a Concept
    This is the fun part of product development! Generate concepts for new products from employee recommendations, an engineering or managerial "think tank," customer suggestions and brainstorming by the product development team.
    Critical Question: None. Just be as creative as possible within the parameters of your chosen market.

    Step 2: Select the Best Concept
    Examine all the ideas generated in Step 1 and reduce the number of new concepts to a manageable size. Rank each new product idea by a set of criteria customized to your company's strategic objectives. Some examples of important criteria are:
    • Production / Technology Capabilities. Competitive / Legal Environment
    • Financing Issues
    • Marketing Requirements
    Critical Question: Is the product compatible with company resources and objectives? If the answer is no, yo

    Stop Advertising and Start a Conversation
    When people share information, ideas, and sentiments, it's called "conversation." If people were not equipped with the natural ability to listen, think and respond, then "conversation" would be called "advertising."In the past, companies had to use advertising to communicate. But today, with all the advancements in communication technology, companies, like people, can listen, think and respond. It's time for these companies to stop advertising. And start a conversation. It's time for Conversational Marketing.Conversational Marketing isn't a completely new idea. Perhaps the earliest sign of Conversational Marketing were those ads fifty years ago that sported body copy that was "conversational." Instead of flat, lifeless copy that espoused the features and benefits of the client's product, some copywri
    Quite simply, you were blinded by love and you fell for the wrong product. More than a mere business decision the product became a powerful new passion for you or your company's product development team. The obsession for this new product was so strong that normally pragmatic business people ignored logic to pursue the glittering profits they felt it promised. It's not an unusual problem. Actually, it happens to 80 percent of new products and it's not exclusive to small businesses. Remember "new" Coke, McDonald's McLean burger and the DeLorean?

    What can your business do to avoid the "love at first sight" new product mistake? Here's how to identify the proper, and profitable, product needed for your business expansion.

    A Proper Product Planning Process

    We have combined a number of existing new product development systems into the following practical process. We explain each step in the process below and follow each step with a critical assessment question. This system can help you design a new product offering for your company with less risk and more control.

    In the process, make sure you create a cross-functional product development team that includes representatives from sales, engineering, operations, marketing, finance, executive, legal and other areas critical to new product success. Also, guard against any one member of the team dominating the discussions or decision-making process. All team members must honestly critique and support the project, or the new product's chances of success are minimized.

    Step 1: Search for a Concept
    This is the fun part of product development! Generate concepts for new products from employee recommendations, an engineering or managerial "think tank," customer suggestions and brainstorming by the product development team.
    Critical Question: None. Just be as creative as possible within the parameters of your chosen market.

    Step 2: Select the Best Concept
    Examine all the ideas generated in Step 1 and reduce the number of new concepts to a manageable size. Rank each new product idea by a set of criteria customized to your company's strategic objectives. Some examples of important criteria are:
    • Production / Technology Capabilities. Competitive / Legal Environment
    • Financing Issues
    • Marketing Requirements
    Critical Question: Is the product compatible with company resources and objectives? If the answer is no, y

    A New Way To Handle Complaints, Or Is It?
    What a lot of money we have been wasting on dealing with customer complaints.Instead of dealing with them and attempting to satisfy the customer we should create a process that makes complaining so difficult then when customers complain they get such a huge negative experience and never receive any satisfaction.They will think very hard before they complain again.This approach is working already.Fifteen Years ago I moved up to the West Coast of Scotland. After three years of the Highlands I decided to make it my permanent home and settled down to live in the most beautiful imaginable spot on the shores of Loch Long.In the mornings I would lie in bed and listen to the radio, gently smiling at the all the roads in England that were listed almost daily as the announcer plunged agai
    " new product mistake? Here's how to identify the proper, and profitable, product needed for your business expansion.

    A Proper Product Planning Process

    We have combined a number of existing new product development systems into the following practical process. We explain each step in the process below and follow each step with a critical assessment question. This system can help you design a new product offering for your company with less risk and more control.

    In the process, make sure you create a cross-functional product development team that includes representatives from sales, engineering, operations, marketing, finance, executive, legal and other areas critical to new product success. Also, guard against any one member of the team dominating the discussions or decision-making process. All team members must honestly critique and support the project, or the new product's chances of success are minimized.

    Step 1: Search for a Concept
    This is the fun part of product development! Generate concepts for new products from employee recommendations, an engineering or managerial "think tank," customer suggestions and brainstorming by the product development team.
    Critical Question: None. Just be as creative as possible within the parameters of your chosen market.

    Step 2: Select the Best Concept
    Examine all the ideas generated in Step 1 and reduce the number of new concepts to a manageable size. Rank each new product idea by a set of criteria customized to your company's strategic objectives. Some examples of important criteria are:
    • Production / Technology Capabilities. Competitive / Legal Environment
    • Financing Issues
    • Marketing Requirements
    Critical Question: Is the product compatible with company resources and objectives? If the answer is no, y

    Job Hunting Tips - Writing The Perfect CV - Part 1
    A CV (from the Latin Curriculum Vitae) – ‘Resume’ for our American friends has only ONE purpose. It aims to win you an interview. Once you’re at the interview, the interviewer may use the CV as a basis for discussion, but it won’t determine whether or not you’ll get the job. With this in mind, what are the most important aspects of a CV?1) Don’t make your CV too longTwo pages length is perfect. There are some exceptions – some employers from countries such as South Africa prefer as much information as possible, but on the whole, anything more than three pages may have a negative impact on your interview chances.Think of yourself as being the one having to discriminate between over 100 different CV’s for the one job role. Would you really be interested to read everything about somebody’s previo
    ng, operations, marketing, finance, executive, legal and other areas critical to new product success. Also, guard against any one member of the team dominating the discussions or decision-making process. All team members must honestly critique and support the project, or the new product's chances of success are minimized.

    Step 1: Search for a Concept
    This is the fun part of product development! Generate concepts for new products from employee recommendations, an engineering or managerial "think tank," customer suggestions and brainstorming by the product development team.
    Critical Question: None. Just be as creative as possible within the parameters of your chosen market.

    Step 2: Select the Best Concept
    Examine all the ideas generated in Step 1 and reduce the number of new concepts to a manageable size. Rank each new product idea by a set of criteria customized to your company's strategic objectives. Some examples of important criteria are:
    • Production / Technology Capabilities. Competitive / Legal Environment
    • Financing Issues
    • Marketing Requirements
    Critical Question: Is the product compatible with company resources and objectives? If the answer is no, y

    Guns on Business Premise
    Should you have a gun at your small business to defend yourself or blast a criminal who tries to rob you using their gun? More and more criminals using firearms are likely to shoot and kill their victims to eliminate the chance that they might get caught later due to the key witness being alive? But if you have a gun on the property you might also find yourself in a lawsuit from the robbery victim’s family. Stating you should not have shot Johnny as he robbed your store, because he is only 17 years old and didn’t know any better?Either way you lose. Often when you are robbed or your car is stolen in a larger city the crimes end up with just a number. You can try to collect on your insurance but as a small business person that simply means your insurance goes up and if you do not have insurance on your busin
    None. Just be as creative as possible within the parameters of your chosen market.

    Step 2: Select the Best Concept
    Examine all the ideas generated in Step 1 and reduce the number of new concepts to a manageable size. Rank each new product idea by a set of criteria customized to your company's strategic objectives. Some examples of important criteria are:
    • Production / Technology Capabilities. Competitive / Legal Environment
    • Financing Issues
    • Marketing Requirements
    Critical Question: Is the product compatible with company resources and objectives? If the answer is no, you must modify this idea or return to Step 1.

    Step 3: Develop and Test the Product Idea
    Turn the broad general product concepts into a specific product idea that will appeal to your target market. You must decide how this new product will benefit your customers. It is critical to obtain their direct input or reaction to the concept through market research such as surveys and focus groups.
    Critical Question: Do your potential customers have positive reactions to your new product concept? If not, you need to modify the product or return to Step 1. Be sure to objectively analyze your primary research to confirm your answer to this question.

    Step 4: Look at the Business Potential
    Perform a complete financial analysis of your new product's potential. This analysis should be as detailed and realistic as possible. Product costs, profit margins, return on investment, cash flow issues and volume projections are financial considerations to closely examine.
    Critical Question: Can we manufacture this product profitably with our company's current resources? If the answer here is no, you must abandon the product and start over. Do not attempt to juggle the numbers to reflect positive financial impact when the impact is really negative. Remember, love is blind - trust your numbers.

    Step 5: Make the Product
    After answering yes to all critical questions in the previous steps, now, and only now, you can begin the prototype construction. This phase of your product development requires a complete commitment of the budgeted resources and the entire company's support in a variety of unexpected ways. This level of commitment could strain the nerves as well as the pocketbook, so be prepared.
    Critical Question: Does the product work? Do we have the ability to manufacture and market this product profitably? If no is the response to either question, you will need to prepare for added expenses as you hire outside assistance, modify the product or develop a more suitable offering.

    Step 6: Test the Product
    Roll up your sleeves and get going! Manufacture a small quantity of your new product and put it in a test market. Your company should use the same marketing, selling, pricing and distribution tactics it plans to use in larger markets. This is the time to check volume potential, marketing effectiveness and customer perceptions.
    Critical Question: Do the test market result

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