Tag Archives: bad

Top 3 Bad Ideas In Business

Top 3 Bad Ideas In Business

Top 3 Bad Ideas In Business
Top 3 Bad Ideas In Business
  • Ignoring the competition is your worst idea ever. Just because you ignore it, it does not mean that it will disappear. In fact, not knowing what your opponents are doing will most likely kill your business. For example, if your competition sells the same product for 75% of your price, how many products are you going to sell?
  • Not paying attention to the market saturation is often fatal for a business, especially if you run a local one. It is said that there is room for everyone out there, but this is wrong. If you open a new barbershop in a small neighbourhood that already has three prestigious barbershops, you better include some chips, a beer and half prices too. Otherwise, your business will die.
  • Not understanding what you are actually trying to sell is going to ruin you in the long run. Helena Rubinstein is the first self made lady millionaire. She has never really sold face creams. Instead, she sold beauty. She liked to say that women are not ugly, but just lazy sometimes. Therefore, it makes no difference if you sell a product or a service. Craft your unique selling quotes accordingly.
Some Special Offers Just Cannot Be Accepted

Some Special Offers Just Cannot Be Accepted

Some Special Offers Just Cannot Be Accepted
Some Special Offers Just Cannot Be Accepted
If you plan to make an offer, make sure that you understand all the costs associated with its acceptance. At the same time, if you label your products as offers, you will end up with a lower profit for the exact same costs. So how is this idea worth your cost optimization plans? Perhaps you should think about it before totally ignoring it.

What are you trying to obtain with an offer?

If you take offers for some company costs with low profits, you will manage to understand why they must be planned, administered and controlled. Every pound, dollar or euro that you take from the selling price is a pound, dollar or euro that you add to the profit. Continue reading