Management and Marketing

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…)

I’m amazed how much money people are given in their marketing budgets with goals like ‘increase the Company’s revenue’. Managers must have money to throw away! No goal is worth setting unless it is a SMART goal.

SMART stands for : Specific – Measurable – Attainable – Realistic – Timely.

My number one rule for setting goals is not to pluck them out of thin air – look at current figures and trends to find realistic goals. You should always aim to beat what would happen, had you not embarked on the project.

Specific – A specific goal has a much greater chance of being accomplished than a general goal. To set a specific goal you must answer the six “W” questions so far as they are applicable:

• Who – Who is involved?
• What – What must be accomplished?
• Where – Identify a location
• When – Establish a time frame
• Which – Identify requirements and constraints.
• Why – Specific reasons, purpose or benefits of accomplishing the goal. (more…)