The Sandton City shopping complex recently hosted a Japan week that showcased a range of consumer products. Products ranged from musical instruments, motorcycles, motor vehicles and stationery to exquisitely designed gel nails.
Looking at the array of products, you can’t help thinking about how much investment must go into designing products that will be desirable for consumers. Take the Yamaha compact sound system, for instance, which comes in a range of exciting colours and incorporates modern technology such as Bluetooth, USB input and a docking station for smart phones. This compact sound system under the respected brand name of Yamaha is so desirable that you want to buy the product on the spot. Same goes for the Clavinova made by Yamaha which was played by an international musician with digital sound almost exactly like the original instruments such as the violin, drums and piano. Continue reading “Mining for consumer gold”
What does it take to get your new business idea off the ground? How do you make your new business idea happen? How much is it going to cost?
The challenge about starting anything new – and I’m not talking about inventors here – is that you need to be fairly high up the food chain to make your new business idea into reality. What I mean by this? I mean that you need to have the skills, time, motivation, contacts and money to make your idea happen.
You must have heard that about 85% of small businesses fail in their first year. But why then are so many start-ups and small businesses started? The reason is simply that a small business has the highest potential earnings out of all investment classes.
The other day a subscriber commented that starting a business was simple: you need to come up with a plan and then work that plan. The subscriber said he was frustrated that most people he deals with in his business just don’t get it. They aren’t prepared to put in the hard work and focus.
If you’ve been procrastinating on what to do when developing a new product or service or even new venture, it’s a sign that something is wrong. It may be that you have not done enough research. You may even not believe in your own vision. You also may not have “stretched” your ego far enough so that your plan fits into the mental picture of how you see yourself. Continue reading “Can I tell you something personal?”
A research study asked 500 adults if they were more likely to pay for digital products which provided entertainment (such as music) and solutions (software apps) or for those providing knowledge such as an online newspaper.
The research, says ScienceDaily, found that younger and wealthier users were more likely to be willing to pay for online news. People who had bought software programs, online movies, apps and e-books were also more likely to pay for online news.
This research is important for anyone involved in online or traditional news media. It illustrates the ongoing effects of the digital revolution on news. But it also makes one ask how small business can use entertainment to their advantage.
Not all ideas are equal. You’ve come up with an idea that you think is brilliant. You may have several ideas bubbling in your head or staring at you in your notebook. You might have used idea-generation tools and solo brainstormed perhaps 100 ideas.