▶ Managers and consultants always talk about cannibalization and how companies should be careful and avoid eating away at their existing sales by introducing a new product. But if they don't put the new product on the market, someone else probably will, right? And then they lose big time. So ...

▶ Your pricing can determine many aspects of your business. And the pricing itself can also be determined by your strategy and target customer segments. Which pricing strategy are you using? Have you ever asked your (potential) customers how much they would pay for your product/service? Are you ...

▶ Targeting too big of an audience leads to your product or service being ok for everyone but not excellent for anyone. Unless your product is a vaccine for Covid-19 ☝️
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#quoteoftheday #billionairequotes #newbusiness #businessknowledge #businessgrowth #targetmarket #businesseducation ...

▶ Minimum viable product is a concept stemming from the Lean Startup method (Ries, 2011). It is built very early on to test customer reactions, interest, and preferences. Building something cheap before the final product allows you to iterate multiple times, learn from the customers, save costs, ...

▶ I post a lot about emerging markets, new technologies, and innovative startups. If you ask me about the best business opportunities it's difficult to say, because it depends so much on what you like to do and what you can do. But replacing established unsustainable businesses or creating ...