Browse published articles attributed to Geoff Ficke, with full-archive search.
by: Geoff Ficke How to Market a New Consumer Product Idea-The Mindset Required
How a Long Forgotten Shipping Magnate Removed His Name from Restaurant Menus around the World Ever enjoyed a meal of Lobster Wenberg? You will not find the dish on any fine restaurants or diner’s menu today. In fact, the dish existed as Lobster Wenberg for less than a month at Delmonico’s in the 1890’s. This epicurean delight has thrived ever since, but the name has changed, and the man who was responsible for popularizing the treat has been forgotten.
by: Geoff Ficke How to Fail at Launching a Clever, Novel Consumer Product! The current economic malaise has created a surprising level of interest from entrepreneurs keen to launch a bevy of assorted consumer products. Our Marketing Consulting and Product Development firm is reviewing more submissions than we have seen in years. Every product category from Sporting Goods to Health and Beauty Aids to Fashion and Jewelry and everything in between seems to be drawing inventors seeking to launch their creations.
by: Geoff Ficke For Seven Generations a Unique Business Has Brought Happiness and Beauty to Millions Each Spring Newark, New York does not spring to mind as a base for horticultural genius. Not to be confused with tough, rough hew Newark, New Jersey, this small farming area became the original home of one of the greatest horticultural enterprises in the world. From humble beginnings as a nursery servicing local gardeners Jackson & Perkins became the largest purveyor and developer of sub-species of roses in the United States.
by: Geoff Ficke Marketing a Product Is Most Effective When Presented Through Story Telling Many years ago, when I was just a young rookie salesma I was fortunate to fall under sway of a wonderful veteran sales manager. His name was Milton Lupow and he became a mentor, teacher and coach as I struggled to climb the ladder to success. The lessons he taught stick closely to me until this day and at every opportunity I introduce Mr. Lupow’s concepts to my clients. When I became a sales manager, then an executive and business owner I appreciated his imparted wisdom even more.
This is a question that has no absolute answer. In many aspects of life an entrepreneurial spirit is useful. For our purposes, we will stick to the commercial and business areas and narrow the field of possible answers within this scope. I believe that theoretically any person can be a successful entrepreneur. Unfortunately, this is far from true in the real world. Most people do not have the mix of drive, ambition, passion, fearlessness and creativity requisite in most successful entrepreneurs. Look at the lifestyle and career choices made by the vast majority of people.
Let’s face it, nobody confuses writing or reading a Business Plan with a Bruce Willis action movie or a Tom Clancy novel. A Business Plan is a serious presentation that details an economic opportunity being offered for funding, licensing or sales consideration. Detail, research, financials and harvest options, key elements of any plan, can be dry, less than electric stuff.
by: Geoff Ficke We live in perilous financial times. As the markets have imploded, home prices cratered, jobs lost and incomes uncertain many people have become very risk averse. Very understandable! Many of us are more focused on maintaining our resources than expanding them in the face of so many unknowns. The American dream to successfully start and grow a self-owned business is always going to be with us. However, in times like these, some entrepreneur’s have become less willing to take the plunge into the ownership class.
Seneca “The Younger”, the great ancient Roman philosopher famously observed, “If one does not know to which port one is sailing, no wind is favorable”. The intent of his words is clear. Knowing where you want to go is the essential prelude to planning how to get there. Unfortunately, many people go through life without a plan or a goal, and those people usually end up right where they start from. Most families have a set vacation time to relax and undertake various forms of leisure together.
Most people lead rather ordinary lives, built around family, job, church and hobbies. This is fine for most. The need to pay the bills leads many to engage in work that is unfulfilling, boring and stifling. That so many people work at energy sapping employment should be a motivating factor in seeking entrepreneurial opportunity. Sadly, most people are totally risk averse and eliminate themselves from the potential rewards available almost exclusively to entrepreneurs. The perceived risk taker (the entrepreneur) is, in actuality, not the real risk taker.
by: Geoff Ficke Multi-Tasking Now Is the Crucial Difference Between Success and Failure for Entrepreneurs The early 20th century British politicia James Maxton once famously quipped, “If you cannot ride two horses you have no right in the circus”. The same is true for aspiring entrepreneurs. The ability to apply oneself to multiple tasks, and most importantly, to act in a timely fashion is crucial in achieving goals.
by: Geoff Ficke The 5 Most Important Items to Fully Address For Entrepreneurs When Writing Business Plans A good portion of my work is devoted to writing and reading Business Plans. My Consumer Product Development and Marketing Consulting firm works extensively with small businesses, foreign Companies seeking United States Sales and Distribution, Inventors and Entrepreneurs. The solid Business Plan is the keystone that is essential in successfully driving a new venture to success.
How to Change a Product Negative into a Positive Virtually every consumer product comes to market with an Achilles heel. There is an inherent limitation, design shortcoming or performance kerfuffle that is almost always present. Nevertheless, many of these products become very successful commercial brands. How do brands turn negatives into positives?
by: Geoff Ficke Securing Professional Help - How to Market a New Consumer Product Idea The last article in this series considered the mindset and attitudes required to be a successful marketer of consumer products and services. We discussed whether to utilize professional Consulting firms or to take the plunge and self-market your project. Here are some ideas on securing talent on a local, regional, and possibly pro-bono basis.
My firm looks at hundreds of new product ideas, concepts and inventions every year. Many have great potential. When reviewing these opportunities the creator inevitably asks some form of the following: “Before spending any money, how can I get a feel for the potential success of my new idea?” Consumer research, focus groups and test marketing are commonly utilized by established companies to gauge the market reception and viability of new product offerings. Even limited, controlled programs such as these are beyond the reach of most entrepreneurs.
by: Geoff Ficke In the modern world we take for granted the availability of innumerable sources providing accurate measurements of time. Telling current time is so readily available that we have lost sight of the profound importance of knowing time, to the hour and minute. For most of human history accurately measuring time was irrelevant. There was no need for watches; clocks, clock radios or digital time reads on car dashboards. Until the flowering of the industrial age in the second half of the 19th century most people worked in small plot agriculture.