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Killing your darlings: getting rid of products to improve profits

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Off with her head! That’s been the theme for this week. I’ve been watching The Tudors on DVD – and Henry VIII sure loved a good beheading when it came to getting rid of the traitors (or wives) that got in his way. I channelled Henry when I did the gardening earlier this week and got immense satisfaction from dead-heading 93 roses in the backyard (yes, I counted). Then I heard that publishing house Bauer Media axed another two magazines (Madison and UFC) after already putting Grazia on the chopping block. This inspires this week’s Enterprise post.

Earlier this week, publishing house Bauer Media announced the axing of two magazines: monthly fashion magazine Madison and martial arts magazine UFC. This comes hot on the heels of its decision to shut down weekly fashion rag Grazia.

These kinds of decisions are never easy – for management, owners, staff or readers – but sometimes, the best strategy is to clean house as swiftly as you can so you are not bogged down by under-performing products.

The same can be said for the products and services offered by small business owners. No matter how hard you may have worked on a particular product/service, it’s important to consider whether it might be time to get rid of it.

So how do you know if a product or service deserves the chop?

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