Interpersonal Business

There are as many companies that become stale and fail for lack of creativity, as there are companies that fail for over extending resources by taking their eye off the cash cow. Timing and resources are the two key elements to a second-generation expansion. Remain focused on your strengths and your target. Protect the original success formula, and your position of strength in the market. Understanding the fundamentals of your prior success or failure is crucial.

A good gut in marketing is crucial, and often hard to find. The difference between a “good gut” and “by the seat of the pants” is in product development. “Gut” is involved with the market, and aligns him or herself with others “in the know.” “Pants” relies on good fortune with a hit-and-miss approach. We must constantly re-invent ourselves in marketing. It always has, always will, come down to creativity, design and innovation.

New products should create a “bigger than life” presentation, focusing on perceived value, and catching the eye of your intended customer. The five “P’s” include: Perception, exceed your customers desires. Presentation, is your product clearly superior? Promotion, have a “Cadillac Product” that will raise the perceived value of your other products. Performance, execution is critical to the total package.

There is always great risk, but we also must often follow our dream. Proceed with guarded optimism – one blind eye. Do you have the whatever-it-takes factor to succeed, or is it a hobby? Get candid evaluations and advice from individuals with market knowledge. Determine your product’s potential in the market – test, test, test! Remember, the bottom line is always, “will the
ultimate consumer care?”