I met up with an entrepreneurial couple who had returned to the country from the UK and had decided to make energy bars to sell. They began making and packing their energy bars at home and then going around to shops and delicatessens to leave samples. Soon they were receiving calls from where they had left the sample energy bars with shop and deli owners placing orders. Sounds like a success story, doesn’t it? Continue reading “Are you paranoid about other small businesses copying your ideas and products?”
Do you need to put your business on a fat reduction programme?
A physicist who has taken up science communication teamed up with a professor to produce a simple explanation of how the body gets rid of fat. This, they felt was a contribution to the war on obesity. They found that heat is released, especially when you exercise, but that is a by-product of the chemical reaction that takes place in the body when you lose fat, not the conversion of fat. Calculations showed that the lungs are the primary excretory organ for fat. When you lose weight, you need to unlock the carbon stored in fat cells. You release fat as carbon dioxide and water through your lungs. Continue reading “Do you need to put your business on a fat reduction programme?”
Where do ideas for new products and services come from?
One evening when we were down at the coast we went into the sea at Fish Hoek beach corner and saw a couple with a metal detector combing the beach. When we came out of the water, had a shower under fresh water, walked back to our sitting place on Jaggers’ Walk where we dried ourselves. Next to us, sitting alongside on a bench was the couple who had the metal detector device. They got talking to us and we found out a whole lot of interesting things about metal detecting on the beach. They had started the hobby when they had been in the UK, saw one of their family members over there doing it and got bitten by the metal detecting bug. Continue reading “Where do ideas for new products and services come from?”
Tooth fairy, Easter Bunny, market research and other myths
How do you know if your new business idea will be a winner or a loser?
The marketing consultants Al Reis and Jack Trout tell how product ideas don’t always test out well. The inclination is to do market research but that can be a big mistake. One example they mentioned was Univac which pioneered a big product idea called the computer only to lose its early lead to IBM. It seems Univac lost out because its own market research predicted that by the year 2000 there would be only 1,000 computers in use. So they didn’t invest in a product with such a limited potential market. IBM, on the other hand, didn’t spend money on research and didn’t know about this bad news about computers. As Reis and Trout say, “Instead they geared up for a market that proceeded to exceed every market researcher’s wildest dreams”. Continue reading “Tooth fairy, Easter Bunny, market research and other myths”
It’s not always new ideas that are winners, old ideas can be powerful too
While on holiday in the southern peninsula of Cape Town I was told that the metro or municipality is no longer collecting kelp or seaweed from the beaches. For many years the practice on Cape Town beaches was to use tractors with trailers, collect the kelp that had washed up in the storms and take them off the beach. It seems like the seaweed was used in kelp processing and fertiliser operations. Now apparently the City no longer collects the seaweed because environmentalists have found that the seaweed or kelp helps to propagate a host of marine organisms and life on the edges of the coastline. Continue reading “It’s not always new ideas that are winners, old ideas can be powerful too”
Is this your year of action, action, action?
At the beginning of last year, a friend, who is a successful business person, said that his theme for 2014 would be “mindfulness”. It was important, he said to live and act in the present. Mindfulness was also a source of opportunity because it enables one to discover opportunities that you may otherwise have missed. It seems that my friend got it right last year in saying that it would be the year of “mindfulness” because in about June 2014 Time magazine came out with a cover story titled “Mindfulness”. Inside the magazine was feature article discussing the concept of mindfulness, its advantages and the ground swell of proponents. Continue reading “Is this your year of action, action, action?”
Are you paralysed by fear or do you have the courage to get up and ride a new horse?
Two strategy consultants Al Reis and Jack Trout tell an interesting story about how the reluctance to face change held them back for 20 years. They knew that they would be more successful if they followed a new strategic direction but they didn’t have the courage to get off their agency horse.
In the end they realised that their agency was going nowhere and that they had to overcome the fear of change. They got rid of their agency, repositioned themselves as marketing strategists and faced their fears. Continue reading “Are you paralysed by fear or do you have the courage to get up and ride a new horse?”
Ready for new marketing ideas? Here’s how to do it
The other day entrepreneurs were talking about what they wanted to do in 2015 that was different from the previous year. I was surprised that many of them spoke about wanting to try out new marketing ideas, tools and methods above things like cash flow, staffing issues and cost control. It just goes to show how important marketing is in any economy but particularly so with the uncertainty in the local economy.
Is marketing one of the areas that you will focus on in 2015? If it isn’t don’t dismiss reading further because you may need to market harder in this economy should this uncertainty and low growth continue.
When you look at marketing you can approach it from changing the media you use, using different tools or methods and changing who does your marketing for you. Let’s quickly look at the different media. Many small businesses now rely on social media such as Facebook for an online presence but they also need to advertise in local print and even city magazines. But not enough small business owners try out radio. In one coastal area I know of radio is used to its full effect which helps bring in more customers for these businesses. Social media is fine for keeping prospective customers up to date with what you are doing in your business but you will still need to drive traffic to your Facebook site. Continue reading “Ready for new marketing ideas? Here’s how to do it”
Do you really think a cut-and-paste solution can succeed with a new business idea?
While on holiday at the coast, I was able to experiment with cooking food. One of the dishes I haven’t had for many years is snoek kop sop (snoek head soup) which my mother who was a food writer and author used to prepare so deliciously.
We went down to Millars Point in False Bay and bought a very large snoek (when I use the word “very” you will see what I mean shortly) from one of the langaaners (fish dealers). The head of the snoek was so big that I had to squeeze it into the largest pot I could find. Continue reading “Do you really think a cut-and-paste solution can succeed with a new business idea?”
Are you afraid to say no to a promising business idea?
The other day I saw a quote from Steve Jobs that got me thinking about how it is just as important to say no to some business ideas as it is to say yes to others. The quote:
“I am just as part of the 1,000 things we didn’t do, as I am of the things we did.” – Steve Jobs
In today’s new economy flooded with freelancers, part timers and consultants, there are many more ways to make an income than in the past. Technology, especially the Internet, has paved the way or open up the way to business opportunities that weren’t available just a few years ago. In this marketplace, you have a growth of marketing Wolverines who will incessantly try to push their business ideas your way. I’m not just talking about, artists and shysters here but also the well-meaning who believe that what they are offering is in your genuine interest. You only need to think of the diet supplements and the income-making claims associated with them to recognise how forcibly these schemes are pitched and promoted. Continue reading “Are you afraid to say no to a promising business idea?”
