In today’s business ecosystem, where competition is rife and profit margins are thinning, small and medium-sized enterprises (SMEs) often find themselves swimming in dangerous waters. However, the Blue Ocean Strategy offers a lifeline—an escape route to untapped market spaces where competition is yet to intensify. Developed by W. Chan Kim and Renée Mauborgne, this business […]
Small and medium-sized enterprises (SMEs) often find themselves in a paradoxical situation. On one hand, they experience success by fulfilling a specific market need; on the other hand, this very success can turn into a vulnerability. The reason? The Innovator’s Dilemma, a concept that explains how firms can become victims of their own achievements. While […]
I have always been driven by a desire to create and build something that is meaningful. I have poured my heart and soul into many of my businesses, working tirelessly to turn my vision into a reality. But sometimes, despite my best efforts, things don’t work out as planned; and when that happens, it’s important […]
Pricing your product or service is a difficult process that can involve multiple points of influence – cost, existing market, competitors, etc. But people frequently overlook or perhaps misunderstand the role that value plays in actually achieving any price ultimately set. The typical way we think about a sale Let’s look at both sides of […]
The forces that affect salaries for existing employees within a business are not exactly the same as those that affect starting salaries. With existing staff, you have a better understanding of people’s abilities, contribution and abilities. You can more easily compare them to their peers and have the benefit of the framework that you have […]
It’s all too easy to bash meetings as a manager. They can eat into your day and make you feel like you haven’t completed any “real” work. It’s what good leaders do But what can be more important than speaking with your employees and managers, checking in to make sure all is ok, communicating progress, […]
Google has a great little tool called Ngram that is fascinating and an incredibly underutilised resource. You simply provide one or more words and Ngram charts the number of times that those words appear in books throughout history (Google has scanned millions of books from libraries around the world). Today, I put in Marketing and […]
Take two people. One has more skills and ability, but the other has incredible passion for what they do; an energy and intensity that is contagious. They know that they’re not as good [yet], but their desire to get better and their work ethic makes up for any deficiency. Who would you rather have on […]
Ignorance begets Confidence There’s a cognitive bias known as The Dunning-Kruger Effect that describes how people who are very bad at something, actually think that they are quite good because they don’t know enough to understand just how bad they are; they overestimate their performance. “The trouble with the world is that the stupid are […]
In this era of “Big Data,” I often hear terms like data and information being used almost interchangeably; and so I thought that I’d write an explanation of these terms and also include what should be the ultimate goal of data analysis – “insight”. Data? Big or Small. Data is raw. It has no meaning […]
