February 28, 2008

Solving The Catch-22 of Your Business Model

Start-up entrepreneurs, independent professionals and business leaders may be equally deeply passionate about their product or service model. Despite, or in fact because of that passion, their success may be at a stand still.In the late 1990s I worked with a woman who had a brilliant cosmetics idea that had HSN (the Home Shopping Network) interested. In order to play to that audience, the product needed to be displayed in a fashion other than the one the entrepreneur wanted. She was adamant. It was her baby after all. More than 20 hours of explaining and cajoling and analytically demonstrating the potential for sales if done “the HSN way” produced no shift in her devotion to her model.The boxes of her prototypes are sitting on her closet floor.So what’s the Catch-22?If you are completely, absolutely, positively set on your model, be it fixed OR flexible, you’re not running your business, it’s running you.There is NO single best model to use - every model is a blend of the internal forces of the personality, decision making, skills and processes, and of the external forces where that effort is aimed.What sets successful businesses apart from the ones that are languishing is that […]

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