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Do You Follow Or Lead With Ideas For Your Business?

Discussion in 'Researching & Planning your new business' started by selfemployed, Jan 26, 2018.

  1. selfemployed

    selfemployed Super Moderator

    Are you a follower or a leader when it comes to ideas for your business?

    Are you brave enough to via away from the crowd or do you only go down tried and tested routes - where you need to take on your competitiors?
  2. Businessman

    Businessman Member

    I must admit...

    I am intensely irritated by those that advocate following thought leee-eee-eee-daa-aa-aahs like a bunch of brain-dead sheep. And my cringe muscle is well developed from having sat through and read much of the interminable stream of prime fertiliser that streams from the 'business guru' movement.

    I'm told it's unusual that I'm quite happy to express that sort of thing freely; and have no difficulty calling out 'naked Emperors' and their tailors.

    In terms of a business model, I haven't felt the need to feign 'leadership' by (for instance) plying people with drink, feeding them cupcakes or promise them a game of pirates in order to push a sale. Nonsense like this (which is a fair example of where the leadership/guru cult-head is generally at) isn't 'disruptive' - it's just childish and normally a mask for incompetence.

    In fact our strategy is to adopt processes and protocols which satisfy broadcast requirements. And we do that to protect the customer's interests - there are business risks associated with producing any kind of media for business. The particular workflow/project management process was developed (by me) during my time as a college lecturer; and is designed not only to ensure legal compliance - but meet the relevant SQA assessment standards. It's structured around Prince-II principles, and compatible with (though not certified as such) ISO9001 Quality Assurance standards.

    ...It's the standard I taught to my HND students. And it's the minimum I would expect any credible professional. In doing so, I don't profess mine is the 'way the truth and the life' and expect to be followed slavishly. But I do know that most of my 'competition' basically don't know the job, and eventually go under; often leaving devastation in their wake.

    Is that leading or following or just getting on with it? I dunno! :)
    Last edited: Jan 26, 2018
  3. selfemployed

    selfemployed Super Moderator

    I may not have phrased the question properly. When I said leading, I meant first to market with a new idea rather than waiting for someone to open up the market and then follow - hopefully learning from their mistakes.
  4. Businessman

    Businessman Member

    Leading edge vs bleeding edge? We're probably close to unique in terms of offering a broadcast-level/type service at the price point we do. But one of the things that makes that sustainable is not jumping on bandwagons or fads. - The reasons for this are a little complex but can be broadly summed up. -These things come in and go out with the tide, to follow them is to embrace a cost-driver and simultaneously attract a particularly vacuous type of client. - You'd be surprised how much barely-used kit we pick up from companies that have fallen foul from chasing that dragon.
  5. MarkB

    MarkB Administrator Staff Member

    In summary, if you are going to follow this route, get in, make your money then get out before new entrants engage in a race to the bottom.

    I remember years ago when a young lad set up the million dollar pixel website and made a fortune - his idea was unique and he managed to make his money before the market was saturated. Now these sites are 10 a penny and the fad has died.
    Businessman likes this.
  6. Businessman

    Businessman Member

    Yup... Which happens; marketing 101 includes a bit about the product lifecycle after all. Are you in for the quick buck or playing the long game?
  7. MarkB

    MarkB Administrator Staff Member

    The problem I see is that those who continually chase the fads get more and more greedy and while they may make a few pounds on some projects it is inevitable that, like a gambler who doesnt know when to stop, they will eventually lose their money.
  8. Businessman

    Businessman Member

    Yes, generally speaking I'm with you on that... But there are some - Alan Sugar's a good example - who made a career (for a while at least) out of chasing fads; and built something substantial out of it. It's more of a lottery than a business strategy IMHO, but hey ho! - That's entertainment!
  9. MarkB

    MarkB Administrator Staff Member

    The best way to make money out of a business fad (or any fad) is to get people to pay you to tell them how to do it. People always say "If it is that easy why dont you do it yourself" - my reply would be, it is safer and better money to tell everyone else how to do it lol

    Like a garage which doesnt sell cars but only repairs them - let the big boys sell the cars and then undercut their prices when these cars need repaired/serviced.
  10. Businessman

    Businessman Member

    Well curiously enough - and this goes back generations - the dealers have never competed on price when it comes to servicing; they rely on a combination of owner's ignorance and duplicitous 'binding' practices in relation to warranties. And very often it's the manufacturers who dictate they must work that way if they want to remain dealers. - In the past 25 or so years it's turned into a real racket as manufacturers have tried every trick in the book to limit the service life of their vehicles, and make them difficult or impossible for an independent to work on. - Real petrol-heads don't drive new cars!

    ...Which is one reason why the world is full of 'business gurus' flogging 'magic beans'. :D