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Category - Systems and Procedures

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1
The Product Development Process
2
How to SWOT!
3
Systematise Your Business

The Product Development Process

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:-

  1. Generate the idea;
  2. Test the concept;
  3. Design it;
  4. Product test;
  5. Market test; and
  6. Product launch.

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

Go to my website to get more free systems and resources available for download at teikoh.com.

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How to SWOT!

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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Systematise Your Business

As busy entrepreneurs, what we all want in our businesses (and in our lives!) is efficiency, right?

You want to be able to do your usual processes quickly and efficiently, and because you do them day in and day out memorising every step, you probably do. But what happens if someone has to take over for you – perhaps when you have a day off? Or what happens when you expand and have to start hiring staff, or take on VA’s and contractors?

I’ll tell you what happens – it all slows down! Disturbingly this means you can never leave the business, not even for a holiday!

Other people don’t live inside your memory so they take longer to work out what to do, perhaps even do things in the wrong order and have to come back and do it again. Okay, so you train them – you take them through the steps, and yet….they get it wrong! They can’t remember everything they are told – you wouldn’t either if your weren’t living it day in and day out!

This week’s discussion is about how to systematise your business – treat it as if you were a one-branch franchise and organise procedures and process manuals!

Your standard processes are just that – standard – so why not write them down, video yourself doing them, and make these records the basis of how you train your staff?

I’d love to hear from you – please go to the blog by clicking here and leave a comment – how have you scaled your business by proceduralising it?

Now, standard processes and procedures creating efficiency is only one way of running a great business:-

 Get my free download “The Entrepreneur’s Business Health Checklist” here to check your business’ 6 key result areas.

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