You can’t stand still. You need new ideas to grow your business. But if you make a mistake, it could spell big trouble.
You know about risk management. That’s why you look to us for your insurance protection. But what’s the secret to testing new products or ways of doing things without rocking the company boat?
You could start by checking out these ideas from Entrepreneur magazine.
-Small and simple. Create the bare minimum of product or service that will allow you to test it and get feedback from customers.
-Define, test, repeat. You probably won’t get it right first time so modify it as you get feedback.
-Outside feedback. Don’t rely on people who support you like colleagues and friends to give honest feedback. Ask customers and other outsiders.
-Who’s buying: Make sure you know your customer profiles and what product or service you’ll be replacing.
Check out this brief video interview with entrepreneur Adam Callinan at https://www.entrepreneur.com/article/234878
The magazine also has a useful list of 10 questions you should ask to evaluate your business idea at: https://www.entrepreneur.com/article/225514
And if you’d like to talk more about risk management in your business, remember you can always give me a call. 888-451-8818 OR visit us online at www.harboria.com