Business Tips to Help You Get Ahead of the Competition

How to Set Yourself Up for Success

G'day! You've got Josh here and I've got a couple of special guests. We've got Sarah from Perfectly Beautiful. Say hey. We've got Masso, and he's starting a fantastic business around sailing in Croatia. I've also got Al here and he's had a couple of businesses in the past, and he's looking to go into his third venture. Let's talk about the biggest thing to consider when managing a business, the scariest decision in business, a tool that can help you skyrocket in the future and what business owners do to keep up with the everchanging technology. 

What Is Agile Development?

To understand agile development, let’s go back to the days of the waterfall methodology. Here, you produce something and then you say, ‘Okay, now it's working, but it might have broken.’ And then you go through a process that's in series. There's a clear start and there's a clear end, but there's nothing in the middle that isn't defined. It only has a start and an end, and the product is created.

Giving Consumers Lots of Options

One of the most amazing things about New York is the sheer amount of choice. If you're feeling hungry, there's a lot of options, and this is great for consumers. But what you need to realise is that each stand is only offering a few items. The hot dog stand doesn't sell pizzas and cappuccinos; it just sells hot dogs and a few extras.

Is Price Your Identifier?

Last week, we covered off on apples and oranges and how they can't be the same price.

If you've made it clear that you've got a B-grade product and you're charging an A-grade price, that's not very fair. If you have a product that sells for $10 and you're charging $6, but there's no service and support, that's not very fair. That's when it becomes quite hard for people who are trying to compare apples and oranges.

How is that going to work? Obviously, you can't compare apples with oranges, but this comes down to another big problem, and that's having your price as your identifier. 

Risk Versus Reward

If you can't measure it, is it worth doing at all? It's a great question. The way I sort of look at it is there are a lot of different people and everyone's tolerance towards risk is different. You have these different people that come up to you and try to express the way they're going to be doing their businesses better. They don't have to go to university and get an education. They might not have any experience or anyone to really coach them through, but they are going to risk it all. They're going to do it because there are 70 other people out there that did it, that didn't go through university. So because they didn't do it, I don't have to do it, and that's a risk that they're taking.