December 16, 2024
The Kano Model Framework or Delight Attribute principle is a framework developed by Professor Noriaki Kano in the 1980s to understand customer satisfaction and prioritize product development. The Kano Model categorizes customer preferences into five distinct categories, each representing different levels of influence on satisfaction.
December 08, 2024
Determining the right pricing strategy for your products and services is crucial for the success of your business. A well-chosen pricing strategy can help you attract customers, maximize profits, and stay competitive. Let’s explore some common pricing strategies and how they can be applied effectively.
December 08, 2024
Understanding Pricing Mechanisms: Connecting Buyers and Sellers Pricing mechanisms are crucial in connecting buyers and sellers through the pricing of goods and services. They ensure the market operates efficiently and fairly, allowing businesses to thrive while meeting consumer needs. Here are various pricing mechanisms and their applications:
December 08, 2024
Every business needs a competitive advantage that sets it apart from its competitors. A well-defined competitive advantage should be easily understandable and compelling enough to drive customers to choose your goods and services over others. However, attempting to replicate another business’s competitive advantage often leads to failure.
December 06, 2024
This past summer, I painted my house’s exterior trim. I purchased the paint and related supplies mostly from a local paint store. Once they understood my painting job, they provided advice and encouragment during my visits. My next-door neighbor, a retired carpenter, also provided great advice. I described my job to Microsoft Copilot (yeah, even AI was there to help me with my job) and YouTube to gather more advice and video instructions.
December 05, 2024
In 2007, the Flip Ultra video camcorder became the best-selling camcorder on Amazon capturing 13% of the camcorder market. It didn’t record on video tape, it had limited recording storage, and it lacked most of the features of other camcorders. Basically, if you remember, you pointed your Flip camera at your target and clicked the red button to record. The Flip was a great example of the Good Enough Principle.
December 04, 2024
When my two boys reached the age of two, they discovered the word NO and practiced using it in every conceivable situation. Looking back, I now realize it was probably the most important word they will ever learn. It is the most important word to learn when starting or running a micro-business.
March 01, 2024
A big question for micro-business owners. How can I make more money? Or better stated, how can I connect my activities with capturing more value? Those questions, and dozens more require micro-business owners to use their business judgement and problem-solving skills.