M4bmarketing commented on the following stories on BizSugar
How To Grow Your Business With Elimination | M4B Marketing
"Hi Heather, Another good question. You would use the timeline for when you wanted the additional sales to occur. For example you decided that the extra sales had to occur within the next three months, but the development and launch of the new product will take a year. That will eliminate the new product. Also you would use sales. For example you need only an additional $50,000 in the next twelve months. Looking at both you may see that could be achieved with getting your existing customers to buy more. Another one is profit and you decide you do not what the bottom line to reduce. After analysis you may find that the new product costs will decrease profit even with additional sales in the next twelve months so that could eliminate the new product. There are other factors depending on your business, but hopefully this answers your question. Susan"Increase Customer Retention. Get Out Of The Comfort Zone
"Excellent question Heather. It does depend on the market, what they sell etc. I agree with you about presenting too many options and trying to do too much. The obvious answer is to do some research first to understand how they think, feel and behave and discover the gap. My suggestions is with simplicity is look at the obvious and use common sense. See where you can simplify from what your competitors offer by simplifying a process. For example when my past business sold software the usual method was to send out the disk, plus we included a comprehensive guide as a book. We changed it to have the software downloadable and the guide was a PDF. It simplified it for customers, especially those from overseas and it cut down our and their costs. It takes stepping back and look at the process objectively from a customers' point of view. Hope this helped and any other questions, happy to expand the answer. Susan"Subscribe
A Common Factor For Successful Business Growth | M4B Marketing
"Hopefully it will help others and thanks for commenting. Susan"