product

Your Customized Service as a Product

Your Customized Service as a Product – The Secret to Earning Customer Loyalty

Normally when you think about a product versus a service, you think about 2 different things:

  1. A service is something that you get that provides you with immediate, but not lasting value. It is intangible, meaning that you cannot pick it up and touch it or view it.
  2. A product is something that generally has durable value – or is something you will enjoy for a while. It is also something that is tangible.

For example, when you get your hair cut, you’ll look fantastic for about a day. After that, you’ve got to start maintaining it, so the immediate value you got from the haircut is not durable. On the other hand, if you purchase a mobile phone, the value you get out of it will remain as long as you use the phone.

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More Than Great Products | Extraordinary Business

More Than Great Products: A Journey to Product/Market Fit

We all want to be the first to introduce a new product to the market. We dream of being the creative genius that brings the next best thing to market and makes a fortune. But lightbulb moments come and go, and if they don’t fit into today’s consumer needs like a puzzle piece, they’re worthless.
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  • Test, Evaluate, Adjust, Repeat

Test, Evaluate, Adjust, Repeat

Dimensions of product improvement and the product improvement cycle

While I am not a car person, per se, there are a few models that I tend to keep an eye on for what changes are made year after year, One year, there might be body styling changes, another, there might be a better engine, another year, they might have added airbags or something to that effect. The expectation has been that in a car’s first year or two in production, it still has “kinks” to get out of it before becoming what it could be.

The question begs to be asked, of course – why not keep the car the same once it has been produced? Why do engineers and other members of the product team need to continue to evaluate how the vehicle can be improved year after year?

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It’s just the Lifestyle | Extraordinary Business

Thinking about operations and strategy in “Lifestyle” business

imageIt’s true! If you run your own company, you can take vacations whenever you want and have the flexibility to do all kinds of non-work activities.  You CAN sit by your pool and work and YOU CAN earn money while you sleep. However, if you want to eat, maintain your home and be able to take vacations every once in a while, you’ve got to think strategically, about how you start it, run it, grow it and maintain your lifestyle.  You see, as a business owner, you are the key to the business, and thus, without setting up the systems in advance, the business may not operate the same way while you are gone.

Building a company that can allow you to establish and maintain a lifestyle, that perhaps you can pass on to someone else, or can potentially retire from at some point is one of the thoughts and conversations that small business owners tend to overlook.  Many business leaders may not even think about what life will be or could be like if or when they are able to leave.

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