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Blog posts tagged developing new products

Sales breakthrough and a huge dilemma

July 21, 2010 by www.inafishbowl.com

It is a really exciting time for Rico Mexican Kitchen at the moment. You might think I keep on saying this and that’s because business opportunities take twists and turns and there’s never a time to be bored! Having a strategy is fundamental to keep the opportunities and challenges in perspective, but there must be a great amount of flexibility and a desire to go with the flow and take any opportunity too.

The aim of my business is to introduce a new range of fresh, vibrant, genuine Mexican foods and now I’m looking for opportunities which bring volume.

We have achieved a listing with a prestigious supermarket chain, which is great news! What normally happens though is that they will list you in a limited number of stores and monitor the performance of the product and then, if it does well, they will offer to place your product in more branches. The problem here is that for some products, the minimum production runs are quite large and if they have a limited shelf life, the waste whilst in storage would be considerable.

So, if the shops are not enough to cover the minimum production run, we could end up running the production at a loss. I have identified other retailers which will stock the new products, but we still may find ourselves overproducing.

The really big question in whether we should go ahead with this listing and hope for the best, and in the meantime, work like mad to get more listings to give us the volume we need. Or is it best to delay the launch by a few months, get those extra listings first and THEN start producing?

I know that option two sounds safer but the real danger is that while we are working to get more listings, the original listing offer may disappear. This is not unheard of. It may be that a competitor may get the listing instead, or the buyer changes and their successor won’t choose our product. Difficult decision, isn’t it?

You can find out more about Marcela on the new interactive business website www.inafishbowl.com

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Best laid plans

July 12, 2010 by www.inafishbowl.com

After a very busy period planning for a major consumer show at the NEC and other important activities, I was looking forward to a few quieter days in the office, whilst Tony, my production guy come right hand, was fulfilling weekly orders and perfecting the new product to send samples of later on this week.

However... best laid plans. A large order arrived today marked URGENT and I need to drop what I’m doing yet again and come to the rescue.

Customer service vs business strategy

My customers come first. But the stuff I need to do this week is strategic stuff, things that move the business forward. I’m torn and, quite frankly, I’m tired. If I don’t come to the rescue the orders won’t be complete in time and, if I do, then I have to work all hours to do the strategic stuff in the night. And to make matters worse, Tony in production told me ages ago that he needed two days off this week.

You may think that this is partly due to bad planning on the production side and that I should hold stock. However, our products are chilled, with no preservatives, and have a short shelf life (30 days from production), so I need to produce and ship quickly so the distributors and the shops get products with a decent shelf life.

It looks like I’m up until 2am again working for a few days! Oh well, I don’t mind, it’s a super exciting time and being stretched to fulfil orders is a nice problem to have. I just have to make sure I do the strategic stuff as well so that I am working on my business as well as in it!

You can find out more about Marcela on the new interactive business website www.inafishbowl.com

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A great idea – it could strike at any time ...

November 20, 2009 by Mark Sinclair

Such a big part of growing a successful business is ensuring that you’re always thinking of new ideas or making improvements to your current business. But as many small business owners know, coming up with a great idea is easier said than done. If you’re someone who struggles with creativity or can’t easily prompt a brain wave, watch this show to get ideas from a brand which is growing rapidly and improving constantly.

A popular method of tracking and recording ideas is to write them down – or to “always have a notebook with you”. Tell us, when (and where) do your best ideas come to you?

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