11/5/2021 Tip: OA #4: Product or Service Variations | Growthink

11/5/2021 Tip: OA #4: Product or Service Variations

Today’s Quote

“The purpose of a business is to create a customer.”
~Peter Drucker

 

Today’s Tip

As you may recall, this week I’m discussing the “organizational assets” (OAs) you must build to give your company the best chance of long-term success.

Today’s OA is product or service variations.

Where I used to live, a local pizza shop promoted itself as having 36 varieties of pizza. Offering this large variety makes it harder for new pizza companies to enter the market. Because a new company would have a very hard time creating 36 varieties from the start, it would be harder for them to satisfy customers.

So, please think about this today: can you develop new product and/or service options that better serve customer needs? And make it harder for others to compete with you?

 

Today’s Resource

How to Build a $10 Million+ Company

What’s the difference between successful multi-millionaire entrepreneurs and the typical small business owner just struggling to get by?

Well, there are a LOT of differences, actually…

But I’ve summarized the main differences on this page:

How to Build a $10 Million+ Company <—- 

The really interesting part is that you don’t have to work yourself to death to grow a wildly successful, eight-figure business…

In fact, when you follow this formula, you can make much more by working less…

How to Build a $10 Million+ Company <—- 

 

Trivia

Today’s Question: What does “tranche” mean in financial terms?

Previous Question: Do concession stands have to be inspected by a health inspector?

Previous Answer: Yes.

In most states and cities in the US, concession stands are subject to inspection by the health department if they are collecting money for profit. 

The local department will usually have a “schedule” of periodic inspections of different types, or may respond directly to complaints of unsanitary conditions.

In some statutes, anyone selling food or beverages to the public is subject to health regulation and inspection, including any concession stands, caterer, church kitchen, farmers’ market, grocery store or restaurant. Even a beverage or food vending machine may be inspected for health and safety compliance.

 

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