Aepiphanni’s First Clutch Review
Aepiphanni Business Consulting has helped small and medium enterprises to find a foothold in their relative industries and transform into businesses with high operational efficiency.
Over the past 10 years, nearly all of our clients have been entrepreneurs – people who spotted needs in the marketplace and built companies to meet those needs. So, by nature, we all – myself included – constantly think of new ways to sell more stuff – products or services. Based on experience, my guess would be those in the restaurant industry that run their own stores or have the flexibility to be creative must be masterful at this due to the need to come up with some new menu items that will sell nearly every day.
If you think about it, restaurateurs have to be good at this or they subject themselves to losing a lot of money, quickly. When they commit to a special, they are immediately investing ingredients and time into the development of the menu item without necessarily being able to get the investment back. So while the cost of a plate might be 1/4 – 1/3rd of the price of the product (raw goods) the time associated with developing the item adds additional costs.
Starting with the end in mind, a good product development process will help you identify opportunities and pitfalls in your new product. In short, you will know the following about your new (proposed) product:
The process for product development can be very long and take a great deal of commitment and resources to make sure that you have gotten it right. Of course, without saying, the reward should fit the work. Rules of thumb:
Your company is known by the products it sells. Your company’s reputation is built on what it sells and how it does what it does. If you are in the restaurant business, you are familiar with the idea that you are only as good as the last plate served. If you are in other service industries, you know you are only as good as the results you get for your customers. Many times, there is no second change without significant push to make things right. In either case, getting your products right the first time will save you time, money and grief in the end.
Rick Meekins is the Managing Consultant at Aepiphanni, a Business Consultancy that provides Management Consulting, Implementation and Managed Services to business leaders and entrepreneurs seeking to improve or expand operations. We are the trusted advisor to those seeking forward-thinking operational and strategic solutions to help them plan for and navigate through the challenges of business growth.
If you are ready to discuss how Aepiphanni can help you with business strategy, overcoming challenges to growth or any number of business solutions for your business, whether a small, growing or established company, contact us directly or submit a request for a complimentary Coffee & a Consult to learn how we can help you CREATE | DESIGN | BUILD an Extraordinary company.
Aepiphanni Business Consulting has helped small and medium enterprises to find a foothold in their relative industries and transform into businesses with high operational efficiency.
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