Does a cool idea = a great business model?


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Does a cool idea = a great business model?

When I met the owners of NoChar Inc. and the showed me how their product can protect a town from burning down in a forest fire or how it can protect a man’s hand from a torch, I assumed they had to beat off customers with a stick.

It turns out there is more to creating a powerful business model than a cool product or idea. NoChar’s product is unmistakably cool and valuable. However, NoChar still has some work to do on their business model.

Products do not sell themselves, even great ones. That’s where the sales performance model comes into play. NoChar’s business model is very strong in the marketing areas but needs work getting this great product into the hands of customers.

If you were NoChar and had a great product but only average sales, what would you do?


Republished with author's permission from original post.

Jim Muehlhausen
Aside from his books "The 51 Fatal Business Errors and How to Avoid Them" and "Business Models for Dummies," Mr. Muehlhausen has been published in various publications including Inc., Entrepreneur, The Washington Post, MSNBC, The Small Business Report, The Indianapolis Business Journal, Undercar Digest, Digitrends, and NAICC Journal.


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