Can you stop yourself?

Some business people get so excited about every new product idea that they think it will change their lives overnight. This idea is pursued with such fervour that sometimes the market feedback takes a back seat.

Sure, pursue that idea of yours with excitement. Without that you can’t see your project come to fruition. But that excitement needs to be balanced with the humility of the market. Otherwise, the market will humble you.

Ask yourself at the very least, is this what the market wants? Which segment should I target with this product idea of mine? What do I know about them? Why should they be willing to pay this amount for my product compared to what they have now?

Does your enthusiasm need a bit of cold water?

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When should you be good?

The great thing about most skills is that you don’t need to be good the first time around. Heck, you don’t even need to be good for a long time. Only slightly better over the long run and keep on getting a tad better.

Don’t pressure yourself into achieving excellence at the start. Get better and keep getting better.

Better to strive to be better every day than to crumble under your own pressure in a day.

Do you strive to improve daily?

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Do you want to sell your business?

Some people complain about the profit margins they make. You wonder, why is it that they do not sell their business away already? If you feel you can’t make a decent profit from the category that you are in, then you should exit. Start thinking of an exit plan.

Otherwise, may I suggest you think up a better marketing plan. Perhaps look at your consumer segmentations. Then decide if you have chosen the right one to target. Are there more attractive ones? How can you stand out better? What are they looking for that your company can deliver?

Maybe, just maybe, it’s not because you can’t make a decent profit. It’s because you aren’t thinking hard enough.

Did you spend enough time thinking? 

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How do you tell them to bugger off?

Know your facts. Know your market. Know your consumers. Stay focus on your growth path. Call out the naysayers and tell them to bugger off.

Make sure you are the best.

Who can be better than you?

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What did the retailer say?

Unless you know what is the retailer’s agenda, it’s best to take his feedback with a pinch of salt. Always go to your consumer for their feedback on your product and then use the retailer’s comments as a reference point.

Who do you trust?

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Do you love data?

There is so much love for data now-a-days that it can suffocate the word itself in conversations. Most of these management soundbites, claptrap managers use these terms as if it elevates their intellect. Unless you now how to use it, which to use and which to discard, the data is useless.

Data is dead unless you breathe life into it with your clever use. To analyse it is only half the story. The other half is to synthesise the data you have from different sources. That? No machine can do as well as experience. At least for now.

Do you have the magic pill?

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Your passion will liberate you?

Pursue your passion. Your passion will ensure that you enjoy your job. You will never have to work another day of your life. Bollocks!

Your passion has to be balanced with your strength. This they didn’t tell you. If your passion is Math but you suck at it, good luck with getting into a line that has to deal with Math all day. In my line I see tonnes of portfolios of well-meaning designers with hot burning passion for design but lacking the strength in design.

Be brutal with yourself. If your passion doesn’t match your strength, it’s time to make a choice. It’s also time to make a wise decision on what to do next.

Will your strength propel you?

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What’s in the future?

Don’t mistake current needs for future trends. Things change all the time. Product categories wane and die. Read too much of the noise as signals, you are doomed to crash. Just because you see what is happening currently doesn’t mean you can predict the future. Your prediction has a huge biasness, that is your world view and experiences.

What won’t change?

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What is your purpose?

Some companies write such a fluffy brand purpose that no one understands them. It is as if, if no one understands then they can pretty much get away with anything they claim their brand promises.

Yet others write it in such lofty manner that it is as if they exist as a not-for-profit organization. These for-profit organizations need to understand that eventually your shareholders want you to deliver a profit, regardless of how and what you say your brand will do for the consumer.

Your brand purpose needs to be backed by practice. What you truly can do. So don’t write it in such a way that as if profit is not important.

What’s your promise?

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Do you suck at it now?

Most people are uncomfortable with being bad at something. One way to overcome this is to have a growth mindset. You can give permission to yourself to this, for now. But with a growth mindset, over time with commitment, confidence and courage; you can be good at it.

Can you learn to be better?

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How great do you want to be?

Know how and what to think. Then have the courage and strength to see those ideas through with action. Works for business and personal as well. Simple but not easy.

Where are you stuck?

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What do you want to complete?

You can do everything. As long as you understand you can only focus on one thing at a time. Stop the distractions and watch how much you get to complete, in the quality of work you can be proud of. The better you can focus, the more effective and efficient you are. Focus delivers both.

The consensus is that people who can multitask are the best. They are efficient. Perhaps. But effectiveness often suffers. Throw in focus and see how you attain effectiveness and efficiencies at the same time.

How good is your work?

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Is anyone there?

There will always be competition. You may like to think that you have such a great product that you have no competitors. Or you may like to believe that you have discovered a segment of the market where there are no competitors.

Bad news – there will always be competitors. You either have not seen your competitor clearly or don’t understand who truly is a competitor.

Do you see clearly?

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Who are you doing it for?

Do it for your consumers. Your clients. Your customers. Your fans. Whatever you call them. Give them a good experience with your product and service. Give them a good experience with your brand. Figure out what makes them happy then do those things. Figure out how to fund those things.

Don’t do it for the fake metrics. Likes, engagements, traffic. It doesn’t tell you anything. It happened once, a few times, great. Ok, move on.

Forget about big data. If you don’t know where the data is coming from? It’s bad data. The information you collect directly from your consumers? That’s good data. Mine those and do something about that. When you do, you will get good feedback. That is what you measure. That is real because the data is yours.

Do you know who they are?

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What are you good at?

Focus on what your company does well. Then pour your heart into it. But before that, ask yourself, is this what the market needs? That’s where market segmentation comes in. Too unsexy for a lot of people.

Start there. What your company is good at doing, what does the market need? Who in the market will benefit most from what you offer? These questions alone can help you answer your product portfolio management issues. Once you have this, you can begin targeting. If you start with targeting without proper segmentation, you will miss your mark.

Who needs you most?

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How far can you go?

Your tendency to want fast results should be balanced by a healthy commitment to go the distance. If you think long term, and are willing to think long term; you can put in a lot of programs that can help you outlast your competitors. When the distance is long, there are very few people who are willing to go there. It’s less crowded there. More space to play, more business to make too. Besides, when you play the long game, you have the Lindy Effect going for you.

Are you a sprinter?

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Who can you learn from?

Well, everyone can teach you something. But not everyone can teach you something valuable that can add richness to your life.

I would recommend someone with high expertise, high experience and a high willingness to share. But finding these people is tough. They are generally busy or they just don’t know how sincere are you in learning. But if you find them, show them that you are sincere, demonstrate your humility and soak it all up like a dry sponge.

Are you blessed enough?

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Are you old school?

I am beginning to think, when someone says “old school” or labels something “old school”, it means there is real education hidden in there. That there is something to learn. May be even a principle or two you can pick up.

Listen out to the label “old school”; keep your antennae up for these words. It doesn’t work all the time as much depends on who’s labelling it. But when the person gets it right? There is almost always something to learn there about the “old school” stuff.

It always makes me smile when someone scoffs at something labelled “old school” and I manage to pick up a thing or two from it. I guess if you can’t tell jadeite from granite, then you won’t be able to pick up anything valuable even if it is in front of you.

Did you even go to school?

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