2016 | Teik Oh

The Product Development Process

Oct 18 2016

So, you have a new idea for a new product or a new service, and you’re really excited about it. Well done you!

The question is how do you go from new idea to development and launch?

If you’ve been following me, you’ll know that I’m all about systematising processes. My career has come to today, where I have used all my experience and training – over 35 plus years of working with entrepreneurs and small businesses – to use existing proven methodologies and create simple to use systems for my clients. There’s no need for you to read loads of books and “try” theories – I’ve done it for you.

Which means I have a system for developing and launching a new product or service! It’s one of 55 really useful management tools that I have collated into my book called “The Management Toolbox” available from Amazon.

The Product Development Process is a 6 step process that begins generating the idea and ends (if the steps have been successfully hurdled) with the product launch.

In the video below I’ll take you through the Product development Process.

Let’s summarise those steps:-

Generate the idea;
Test the concept;
Design it;
Product test;
Market test; and
Product launch.

And remember, this is important – the steps are hurdles, each a test of the validity of the original idea.

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How to SWOT!

Oct 11 2016

I’ll bet you that you’ve heard of the term “SWOT”.

In the English-based education system that sometimes describes someone who works “too hard”! But no in this context I mean the management tool that people use to analyse a given situation or business issue.

“SWOT” stands for Strengths, Weaknesses, Opportunities and Threats, and the idea is that you assess your business situation or issue by looking at what its strengths and weaknesses are, and what opportunities exist or threats that it faces.

Many people misuse this tool – they take a generic view of the situation and look widely at all the strengths, weaknesses, opportunities and threats. Often they even misunderstand the difference between strengths and weaknesses as opposed to opportunities and threats.

No, as a tool its use is to focus on key issues so that you can make clear decisions and not get swamped by too much information.

In this video I explain how you can use it to provide focus, and eventually identify strategies from the analysis.

There you are, how to use SWOT properly as a management analysis tool!

And remember, use the strengths, fix the weaknesses, exploit opportunities, monitor threats.

Now, the fun really starts when we “talk” about how you use or might use this tool. Click here to leave a comment under the video and tell me 2 ways you have used or will use SWOT!

One last thing….

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What Makes a Business Resilient?

Oct 04 2016

As an entrepreneur and small business owner, I know that you want to build a long term business to give you a great life with your loved ones, and to provide financial freedom and independence. In order to do so, the business you are creating needs to be resilient – resilient to bad fortune, bad times, strong competition, unpredicted hardship, and everything else, right?

So what makes a business resilient and how do you create such an ecosystem in your business?

Let’s get straight into it – in this video I give you the three characteristics of resilient businesses that I have distilled from over 35 years of working with small businesses and resilient entrepreneurs all over the world.

I truly mean it when I say that in my experience, all over the world and under any adverse conditions, the entrepreneurs and small businesses I have seen ride the bad times and not just survive but improve, are those who have those three characteristics. This means to me that they are common characteristics you need to have, wherever you are, facing whatever situation, in whatever business, selling whatever product or service!

If they’re common characteristics then learn from others and use their formula.

If you want to know more about how to grow your business into that long lasting dream, go to my website and see all the free tools, ideas, systems and downloads there.

You might also want to get my free download “Entrepreneur’s Business Health Checklist”, just click here.

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Communicating Change

Sep 27 2016

Whatever you’re unsure of, be sure of this – change, like that other word that starts with “S”, happens!

The change can be unplanned, thrust on you, or it can be planned because you see the need to innovate and do something differently.

In either case, you need to communicate that change to all your “stakeholders” – the people who have an interest, financial or emotional, in your business and success. Please, don’t ever think of not communicating changes – planned or unplanned – that’s just poor judgement and I believe unworthy of you. If you are creating or growing your dream business, it is to create a better life for you and the people around you, and the journey has to be transparent and open.

IMHO this means that any change, planned or unplanned, has to be explained – to your spouse and family, to your co-workers and employees, to your contractors and virtual assistants, to your customers, suppliers, bankers, financial and other advisors. They are affected – they need to know.

The question is not “should I tell them”, it’s “how do I tell them so that they come on the journey with me, willingly and collaboratively”?

In this video I discuss 7 steps you should take.

Here they are again:-

Explain the reasons;
Explain the new opportunity;
Explain the new vision;
Allay fear;
Explain your support;
Explain the big picture of the changes; and finally
Get buy-in.

I’m sure you’ve dealt with implementing change in your business, click here to post a comment under the video and tell me a way you have successfully implemented change.

Go to my website teikoh.com if you want more of these ideas, systems and tools to create strategy and grow your business, but if you’re not getting them delivered every week directly to you, why not? Keep in the growth gradient by giving me your name and email and I will send you weekly and free ideas and bonuses, directly to your inbox.

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Back To Front Planning

Sep 20 2016

How do you plan for something? Created some goals right? Identified what you wanted to achieve this year or in 5 years’ time, then worked out strategies on how to get there?

Well, how do you know if those goals and strategies will get you to a place you really desire and not just some random point on the way there? Where even is “there”?

Stephen Covey said it best: “Begin with the end in mind.” I believe that you always have to start your planning from the back end, from where you want to end up, and then go back to where you are now. Otherwise, how can you create goals and strategies to go “forward” when you’re not clear where “forward” actually is?

And I don’t mean some wild and wooly “vision and mission” statement – I mean a clear, quantified, specifically described, ideal future situation. You absolutely need clarity on this before you plan for anything, so that you can ask “Will this goal or strategy or action get me nearer there and only there?”

Watch this video on the one way I recommend to clarify what your “vision” is and what it actually means when it has been achieved.

If you use this method you can cascade the detailing of what your ultimate dream business is, all the way to the detailed steps and actions you need to take – try it out! Remember:-

The first question is “what do I mean by my ideal…..(business)?”
Then keep asking “what do I mean by…..”

If you’ve missed out on any of my free advice, tips, ideas, systems and step by step processes to grow and build your dream of a business, go to teikoh.com and check them all out there.

By the way, if you are missing out, it probably means that you aren’t on my members’ list. It’s free to join and if you’re on it I send you every week, free and valuable updates on all these great tools and systems. Click here to sign up, and be aware that I hate spam so I will never sell or give your details to anyone else!

Comment 13

Increase your sales through a highly focused marketing plan!

SMART Marketing: In this book, the owners of a small business are led through the SMART Marketing 7 Step Process to produce a marketing plan targeted at their most desirable customers. Any business can use these principles and in 4 to 6 weeks implement a plan to get them through the door! Find out how...

The SMART Marketing Workbook: Companion to “SMART Marketing”, this workbook sets out the SMART Marketing process in 7 workshops for you and your staff to complete questionnaires and templates that at the end, form the marketing plan you need to sell your REAL product to your REAL customer! View now...

Archive - 2016

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The Product Development Process

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How to SWOT!

What Makes a Business Resilient?

Communicating Change

Back To Front Planning