November 2019

Understanding Product Development

Developing and launching new products is one of the most important ways for your business to expand. New products give existing customers more chances to spend money with your company, and provide a clear way for you to attract new ones.

Product development is neither cheap nor risk-free – you have to invest substantial resources in research and development, and the production of prototypes before you have a product you can launch to start earning back it’s development costs and turning a profit. Even if you do invest a lot of time and money in making a product you think is perfect for your customers, there’s a chance they won’t agree, and if you organise a big product launch with a strong marketing push behind it, and the product fails to find it’s audience, it can do some serious damage to your brand. Think of a movie studio that invests a lot of money in what they hope will be a summer blockbuster: if it gets critically savaged, and hardly anyone goes to see it, not only do they lose the majority of the money they invested in making the film, it also becomes less likely people will go to see future films made under that brand.

It’s worth taking the time to understand how the product development process works, so you can make more informed decisions about how you’re spending your money.

Concept Testing

It’s important to test not just prototype products, but the very concepts you’re considering taking forward to development. Customers need to be able to grasp how this potential new product can work for them: why it would be valuable to them and therefore worth spending their money on. If they can’t grasp the concept that the product is based on, it’s unlikely to be worth the money it will take to design and make it.

Iterating on Prototypes

When you begin to produce prototypes, be it of a physical product or mock-ups of the UI and functionality, it’s important to give consumers access to see how they use them. People within your own business already know how your systems are meant to work, so they don’t make good test subjects.

To get a true read on how good your designs are, you need outsiders, unprejudiced by a history with your products. Working with a market research company can help you find testers, as well as finding the right way to learn from their use of a prototype. Asking the right questions and watching their behaviour in the right way will give you the insights you need to feed into the next prototype, and ensure you’re iterating your way to success.

Small Business Expansion Tips

Most small businesses want to expand. The problem is that this is not at all something that is really easy to do. Unfortunately, expanding without a good plan in place can easily lead to failure. As an example, when you hire many employees and you do not really need them, bankruptcy is quite possible.

No matter what your goals are, if you want to expand your small business, here are some great tips from the Fix It Right Plumbing company in Melbourne, Australia. These tips will surely help out a lot.

Focus On Company Culture

Every business needs a very strong company culture, no matter how small it is. This is what keeps employees together when exponential growth starts. When you do not know how or where to start, just talk to the team you have. Think about why the company exists and what its values are. Then, work on the company vision.

You want employees to feel connected to the company so they can stick together if times are tough. Strong company culture will attract brand new customers too so be sure that you are consistent.

Hire The Best People

Hiring is a huge part of successful business growth. You need to take the time that is needed to find the best possible employees. When you hire the wrong staff members, it is so easy to end up failing to manage business growth.

When you hire people, be sure that you think about company culture, not just skills. Will the people you hire be a good fit for the team you already have in place?

Proper Innovation Helps

As the small business expands, it is tempting to spend money on creating new products or improving what is already sold. The problem is that this often happens in an inappropriate way. Do not blindly focus just on one thing. Try to innovate in other parts of your business. For instance, innovate onboarding experience or maybe adopt some brand new technology to scale the customer service department. The goal should be to gain more stability in your business. After you do this, you can focus on introducing new products.

Always Focus On Brand Recognition

As the customer sees your advertising campaign, slogan, packaging or logo, your goal is to be sure it is instantly recognized. Building brand recognition is by far the most important thing at the end of the day. Everyone knows the “Just Do It” Nike slogan. Try to achieve something like this and you will end up with long-lasting customers that are loyal and keep coming back to your business.

Focusing on brand recognition does not mean you should forget about the customers you already have. There are many small business owners that are blindly focused on getting new customers when they should be focused on that and keeping their current ones. Existing customers have to feel valued. When this does not happen, you have a big problem. This is because getting new customers is much more difficult than getting your current customers to come back.

Car servicing Tips: Make Business Road Trips more bearable

Are you someone who travels for business? If yes, keep reading on because frequent business trips can take its toll if they are not managed properly. Just like a recreational road trip, business trips need to be chalked out before hand too. In the latter case, there should be even more stringent planning because it is work related and money is on the line. Did you know you can relieve yourself from road problems while commuting for work just by being more careful with car servicing? Well, car servicing sounds pretty basic but it can really make a huge difference in your life – especially if you have constant field trips.

·        How often you service your car is important

Being consistent with your car servicing is key. It minimizes the potential problems and reduces the probability of getting late to a business conference. You should get service done from time to time, a general recommendation is to get it done semi-annually.

·        Quickly go through your car service manual

Business owners don’t have any extra time on their hands but if you could skim through your car service manual, you would discover many new aspects about your vehicle. For example: when the car parts need replacement, how many times  should you get the service done etc.

·        Look for recommendations when choosing car service centre

Just look around for recommendations because you really won’t have time to research. If a fellow colleague or friends has recently tried a car service centre and is happy with the results, you should follow their advice. Who you get it from is by far the most important factor which is going to determine your overall vehicle health. So if you are puzzled & don’t really know who to select, choose DAT Tyres for your car servicing needs as they have good customer reviews– click here

·        Look after your tyres

Car tyres are highly prone to wear and tear. To ensure smooth driving you need to look after your tyres and that includes inspecting tread depth and also checking for any unnecessary cuts or bulges on the surface.

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