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Posted by on Dec 6, 2009 in Business Development | 0 comments

Getting Rid of Annoying Customers

Who really matters to your bottom line? Many executives and managers have been asking themselves this question lately. Do you need Larry from IT? Maybe not, so you lay him off. Sorry Larry, we just don’t need you anymore… we’re looking out for our bottom line. But what about customers? Customers can hurt your bottom line. For instance, a couple walks into your furniture store and there are children bouncing off the couches, jumping on the beds, yelling and screaming. Many of us have been in this situation. Though the furniture store might have slightly better prices or a more friendly staff, those kid are so annoying that they tip the scale — in essence, the selling advantage is outweighed by the kids with oblivious parents. Those kids are hurting your bottom line by pushing prospective customers out the door. The challenge many business face is finding the guts to say no. Saying no to customers that hurt your bottom line can be just as cost-saving as firing Larry...

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Posted by on Dec 5, 2009 in Business Development | 0 comments

Get Interactive

Sports Illustrated recently released a demo of their product on an Apple Tablet-like device. SI illustrates how a large touch screen can create an interactive experience where users are completely immersed in the product. It does this by aggregating all multimedia and text platforms — that are currently fragmented across the web — to bring users a completely unique and seamless experience that can certainly be monetized. Here is the newly released video: The newspaper industry could take a few notes on the potential of such a new product design. This tablet-like device allows content producers to develop a branded experience that users cannot get anywhere else. Getting ahead of the curve like SI is how other publishers can compete. Once the device is launched, you have a product that cannot be duplicated and therefore, can be monetized. Although this new product innovation will not alter the fate of many newspapers, it will give them a leg-up in a game they are losing. Finding new ways of delivering a...

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Posted by on Dec 2, 2009 in Business Development | 0 comments

Show Your Math

Wolfram Alpha recently released a new feature on their “computational knowledge engine” that shows each step in solving math equations. Simply write “solve” then the equation and Wolfram will take you through the problem step-by-step. It makes me wish Wolfram was around when I was struggling through statistics. This new Wolfram feature illustrates step-by-step how you get from A to B. If you look a layer deeper, it’s about transparency. Instead of saying, “you’re fired” and leaving it at that, explaining how you arrived at your decision is critical. Some bloggers make it their job to write about how they grow their user base. Darren Rose from ProBlogger does just that. He blogs about how newsletters and other online marketing initiatives have helped him increase his ad revenues. How can you peel back the layers and show people how you got from A to B? Is it a blog where you review airlines from your business trips or is it helping your non-digitally savvy users fix their computer problems...

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Posted by on Nov 26, 2009 in Business Development | 0 comments

Creating and Developing Business Ideas for the Web

99Designs uses the crowdsourcing business model to connect business owners with designers. Here is how it works: the business owner creates a design brief outlining their specifications and sets a budget for the project, then designers develop mock-ups and the designer is selected by the business owner. The process parallels what happens in the real world. A company announces a call to entry (to maybe 8-10 agencies), then after the first round of mock-ups, the company creates a shortlist (of about 2-3 companies). Based on the final entries, the company awards the best agency with the project. Essentially, 99Designs has replicated the real-world process in the digital space. In doing so they have created an efficient and effective business model. Business ideas are born in many different ways. Some entrepreneurs deliberately think of problems to solve while others are “struck by lightening” so to speak. To get you thinking (consciously and / or subconsciously) about creating business ideas for the web, consider those processes that happen in the real-world....

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Posted by on Nov 24, 2009 in Business Development | 0 comments

It’s OK to Dream Big

If you could imagine the best computer, what would it be? Or, what would the best car look like? While we need to strike a balance between what is possible and impossible (at this time), we need to understand that dreaming big gets us further to the “impossible.” Consider this video of the future computer: The computer looks like an innovation from the Beyond Year 2000 show on the Discover Channel. You might put it up there with the floating car and the augmented reality goggles. However, we need to go to such creative heights if we are ever to get even halfway there. The more we stretch, the further we can go. Think Star Trek: the first mobile phone, personal computer, memory disc and Blue Tooth headset were once impossible dreams on the sci-fi show. Now they are everyday realities. Instead of thinking what was possible, the creators of Star Trek just imagined — no holds barred. How would your product or service be different if there were...

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Posted by on Nov 22, 2009 in Business Development | 0 comments

Cutting Off Problem Assets

Recently, I bought two Majesty Palms from IKEA. Since I did not have a base for the plant, I watered it very little — as to avoid water draining onto the hardwood floors. After about a week, a couple plant bases were given to me and I was able to adequately water the Majesty Palms. What looked like a little drying turned into something much more. The plants that once looked vibrant with life were now shriveling up and dying. To avoid the death of my new Majesty Palms, I searched online how to save them. Thoroughly water once a week and cut-off anything that is dying. This helps the plant focus on providing nutrients to the healthy portions of the plant. So that morning I removed nearly half of each plant. The next day, I repeated. Now, only a quarter of the plant that I purchased was still standing. I’m happy to say, now two weeks later, the plant is flourishing. As we consider new ways to maximize...

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