What is a hostile environment? It’s not where competitive intensity is high. That is capitalism. It’s where for whatever reason business and owners are penalised, punished and prevented from market opportunities. We could elaborate but there are many ways in which businesses are being harmed and harassed.
We want to look at how to reposition, transformed or reimagine your small business to strengthen your medium-to-long-term competitive position. Here we can’t be too specific because each business is different. Customised advice is best suited to a private consultation. All I’m trying to do here is get you to think about possibilities before the carpet is pulled out from under you. Continue reading “How do you acquire competitive advantage in hostile environments?”
An immigrant bought a local restaurant in my neighbourhood and soon found out that the retail, street custom was pathetically slow. The new owner started focusing on takeaways to survive but it wasn’t enough. He started looking for new ideas. Then he came up with an idea to cater for hotels in the surrounding areas. Now he still runs the retail side of his restaurant but has developed a lucrative catering side to his business. Continue reading “Ignite your spark – new ideas faster with accelerated thinking”
An East London father was at the beach when his son was stung by a bluebottle. The father tried several common but ineffective traditional remedies to relieve the sting. He did research afterwards. Solution? The enzyme from pawpaw. The father now sells his product for bluebottle and insect stings.
People need to come up with new ideas to respond to challenges, problems and difficulties they are facing. They also may be looking for opportunities to turn their ideas into new products and services. But they just can’t make a personal breakthrough. They rack their brains but still nothing comes. Continue reading “The power of innovation – accelerated thinking”
A London cabbie driver was given two tickets to a West End show. He found out a bit about the show and realised it wasn’t for him. He thought that someone else might enjoy the show much more than he would so he left the two tickets on the back seat of his taxi. At the end of his working day, he took a look at his back seat to see if the tickets were gone. What he found was two tickets for the same show placed together with the ones that he had left on his back seat.
This may be another tall story but it highlights the need to come up with things that people really want. A West End show is much a product or entertainment solution as any product you may buy from your local supermarket or from an online retail store.
New business ideas for a start-up or boot-strapped business need to count. A bad idea that is the basis for a new product or service simply isn’t going to make money. But what’s a bad idea? Let’s rather flip that into a more positive statement: what makes a good idea? Continue reading “5 ways to juice up your start-up idea”