Management and Marketing

When you’re evaluating a new business opportunity/business idea, it helps to consider each of the P15 in turn, looking at what the current situation is and where you can make a difference. I created this summary (below) of the P15 recently, as part of a proposed new template for our value plans. Our value plans are what we use to evaluate whether a new business idea is worth doing, and we’ll look at anything from market research and pricing to the unique selling point (USP) of the opportunity.

This is about looking at what’s currently out there and considering how you can do better.  It’s about looking at where you can and can’t make an impact in comparison with your potential competitors. (more…)

If you’re trying to decide whether to go ahead with a project, pricing is probably a major factor.  When you’re making your calculations, don’t forget to consider (1) set up costs, (2) running costs and (3) pricing.  Set up costs should include both equipment and the time involved in setting up the project – if, for example, you have to put 2 members of your team on a project for six months, then the cost is half a year’s wages for each (plus any bonuses).  I created the tables below for our mini value plans (our value plans are used to assess whether an idea is worth doing or not). (more…)