Showing posts with label products. Show all posts
Showing posts with label products. Show all posts

Wednesday, March 21, 2018

New Business Development: What's the best way to launch a chocolate brand?


1. Have a very good product. 2. Have a good story. 3. Tell your story and hand out chocolates as much as possible. 4. build a small, loyal following. 5. get a few retailers to carry your chocolate.
At that point, you are launched and can then focus on getting your followers and retailers to make intros to bigger players.

Tuesday, March 14, 2017

New Product Creation Cycle: Simplicity to Complexity to Simplicity


When new products are first created, they tend to be simple, and just implement basic functionality.

Then, as the product proves itself in the market, new features are added, and the processes around the product (sales, support, management) grow to handle the new volume of customers.

The product is moving from simple to complex.  But, this complexity is fine, because it is adding value.

However, at a certain stage, sooner or later, we let our guard down and we cross over to a third stage: over complexity.  Now, much of the newly added complexity is not good, because it is adding minimal or (worse) negative value.

At this point, we need to simplify and clean up.

Lesson:  We can't go straight from simple / low-function to simple / high-function.  We need to go through the intermediate state of complexity as we innovate and create.  The trick is to minimize it and, above all, not to linger in needless complexity.