Posts Tagged ‘Planning’
Make Sure There is Demand for Your Product or Service
“Nobody ever lost money taking a profit.” -Bernard Baruch Basic marketing 101 demands that before you introduce any new product or start a business selling a new product, you need to make sure that there is a solid demand for the product. While this sounds so elementary, we continually have entrepreneurs and inventors that just…
Read MoreWhat Every Entrepreneur Should Know Before Starting a Company
When it comes to running a business, my best advice to any new owner, founder or executive of a company is to listen to as much advice as you can and apply what is most relevant to your scenario. When I first started Isolator Fitness Inc., I made mistakes like ignoring my customers’ needs, hiring…
Read MoreRed Flags in the FDD: What to Watch Out For
So you’ve found a franchise you want to buy into and are eager to jumpstart the process. Then comes navigating all the paperwork. At this point, you’ll be introduced to the Franchise Disclosure Document (FDD). If you’ve never studied law, this is likely the most legalese you’ve ever seen. Despite the complexity, this document is…
Read More3 Questions to Ask at Your Strategy Off-Site
Ask them, or there may not be many off-sites in your company’s future Well, it’s almost that time of year again. It’s time for the annual leadership off-site, during which you will likely think, ink and drink too much. If you are like many, you’ll leave the safe confines of your office to hang your…
Read MoreEverything Changes from Concept to Release
You can take this headline as a rule, not an exception. You’ll recognize the truism, “No battle plan ever survives contact with the enemy” first stated by German Field Marshall von Moltke way back in the 19th century. Our variant of the “battle plan” truism is important to internalize. A product at the concept stage contains feature-functionality that…
Read MorePlan for Everything When Opening a New Location
A long-time friend recently took the plunge: Small Business Ownership! This decision to become an entrepreneur was not arrived at lightly. Finances were considered and scrutinized. Support – and time constraints – were discussed with the family. A solid partnership was formed so each party could back the other in different aspects of the business.…
Read More10 Steps Michael Schoeff Took Before Launching His New Business
Creating a business from zero is one of the biggest challenges someone can have. The first step into this world is to get yourself prepared for a new and long journey. There are many ideas about leadership and businesses, but there are no standards and paths that are a surefire way to success. However, there…
Read MoreWant to Grow Your Business? 10 Hard Questions You Need to Ask
Fixed mindsets irritate me. You know what I mean. Heard the conversations. We have always done it this way. It is just a fad. As we reinvent business and try to change, the foibles of the habitual human become evident. Calcified thinking. “The difficulty lies not so much in developing new ideas as in escaping…
Read MoreSmall Business Lessons from “Game of Thrones”
“Game of Thrones” has developed a cult-like following during its six seasons on HBO. Based on the buzz surrounding the season seven premiere, which garnered the highest ratings in the show’s history, the series’ popularity continues to grow. There are several lessons for small business owners that can be derived from the HBO fantasy series:…
Read MoreBoy! If I Had Only Learned This Before Spending a Million!
Know your market and competition, or don’t spend a dime on anything else. I love absolutes—statements with no wiggle room for gray-area responses. Well, here is one of those, and it deals with market research first and foremost. Let me tell you a short story at my own expense. In 1994, (I know a long…
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