Through an acceptance into an Innovator Visa business plan, I came to the UK with an idea of producing a line of plastic containers that could be used for any occasion, and they could be collapsed. Normally plastic containers take up a certain amount of space, both in cabinets and any other space, and trying to stack them inside each other can be a bit of pain. My design made the containers easy to push down, so they could be put anywhere, and pulled back apart when necessary. In order to make the containers, I had to use a special process at the factory that I opened.
The first production of the containers went well, and a lot of people were buying them right out of the gate. Initially they were being sold online, but then I transitioned to allow them to be sold in stores as well. Continue reading Starting with a Folded Dream
If there’s one thing that customers hate, it’s having to choose from too many products. I work at a company that specializes in laptops. We make laptops for the general consumer, laptops for those in the business sector, and even laptops for those who work in the government. Over the last couple of years, our sales haven’t been as strong as they could have been, and we’ve gotten some business intelligence from a data consultant company that showed that some of our products were doing better than others. The company helped us form a strategy that would maximize our profits, and we decided that it would be best to get rid of some of the products that were underperformed and focus on the stronger ones.
Our customers were gravitating to certain products, and through feedback, we knew that they were becoming confused by the number of options available. We looked at the lowest selling items in our product line, and evaluated the existence of these particular products. Some of them were simply missing some parts that the other products had in order to save money and sell them at a lower price, but they weren’t moving numbers on the store shelves. Others were simply older models that weren’t really serving much of a purpose anymore.
After consolidating our product line, the company was able to make a lot more money on the laptops being sold. The customers loved that they didn’t have to choose between a lot of options, some of which were pretty unnecessary. In the future, we’ll have to look at the products again to determine which ones will have to leave the market because of newer options that are available. Technology marches on and new developments are constantly being made in our tech labs, most of which will make it into a laptop.