Archive | July, 2010

Basics of Conducting a Focus Group

by Bill Cherry What is a focus group? A focus group is a method to learn what potential customers think about a product, service, or idea. This research method has been used for decades by many of the largest corporations. A focus group consists of a small group of people that get together in a room and talk about products, services, or ideas. The researcher listens and watches the group’s responses to gain insight into customer’s attitudes about the product or service. Many companies that develop new products or services […]

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How to Create a New Product

by Bill Cherry Everyone at one time or another has had a good idea or an idea that’s not so good. You have had that flash of brilliance when the light bulb in your head went on and you know this is the big one. Of course after a day or so the idea fades and soon forgotten. What is a good idea? Sometimes we think we know but usually we don’t. A good idea will either satisfy a need, create a new product, or a new technology. Does your […]

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Franchising: Is it the Right Choice for You?

By Bill Cherry Every year thousands of prospective business owners want to buy a franchise business. Some franchises are very good, and others are scams. Below is some helpful information everyone considering investing in a franchise should know. What is franchising? A franchise is a legal and commercial relationship between the owner of a trademark, service mark, trade name or advertising symbol, and an individual or group seeking the right to use that identification in a business. Generally, a franchisee sells goods or services that are supplied by the franchiser […]

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Create Business Plans that Get Investors

June 30, 2010 by Bill Cherry There are several good reasons to have a business plan. First, most people want to use a business plan to get investors. A potential investor needs a good reason to give you his or her money. Second, going through the process of creating a business plan forces one to examine every detail of the business venture resulting in gaining a detailed knowledge of every aspect of the business. The third reason is to keep a business on track. Many businesses can get side tracked […]

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