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How To Keep Big Ideas From Being Big Failures

Simple, Yet Effective Business Advice from Clients on Demand Founder, Russ Ruffino.

Jeff Broth

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As an entrepreneur, it’s not uncommon to have big ideas. Ideas that, if worked properly, can take your business to higher levels.

Maybe you’ve came up with a way to enhance your products or services that would advance your company lightyears ahead of your competitors. Or perhaps you’ve thought up a new gadget or tool that, once developed and released, could potentially change the world as it exists today.

The problem with having these big ideas is that sometimes they fail. And they can fail hard.

Big Ideas Can Equal Big Failures

Take Coca-Cola, for instance. On April 23, 1985, this well-known company announced that it was changing its formula and releasing the “new Coke.” While its goal was to update a soft drink that had been 99 years in the making, it actually had the opposite effect. Consumers were mad. Real mad.

People had grown to know and love the taste of Coke, so the thought of it changing didn’t sit right with their taste buds. Many protested the company’s actions, creating such a stir that, in addition to being picked up by news sources everywhere on that day, it is still being talked about today.

Ultimately, Coke recovered and is still loved by many. However, it easily could have went the other way, potentially causing a revolt big enough to force them to close their doors.

So, what can you do to take your big ideas and turn them into wins versus risking them becoming huge failures capable of sinking your business? According to one entrepreneur, you simply do a numbers test.

Related: 3 Companies With Memorable Slogans, And How To Create Your Own

The Numbers Test

In a People Stack Podcast, Russ Ruffino shares that his company, Clients on Demand, is on track to earn $20 million this year. This number is up from $4.5 million in 2016, just two short years ago, and Ruffino says that one thing has helped him reach this level of success is that he and his team use data to help them decide what to do. “We always run the numbers,” says Ruffino.

For instance, if your big idea is to recreate one of your current products, how much will it cost your company to make and test a prototype? What about manufacturing costs on a larger scale?

Think also about expenses related to marketing the updated product line and costs associated with creating enough buzz to get it to really sell. Put them all together and see what the numbers are telling you.

Sometimes New Isn’t Better

You may just find that newer isn’t always better. In fact, Ruffino says this is typically the case as, usually what he finds at Clients on Demand is they can typically “get to our income goals faster by just getting a little bit better at what we’re already doing.”

Benjamin P. Hardy, a former top writer for Medium.com in the self-improvement and entrepreneurship space, agrees and adds, “It doesn’t matter how good your strategy is, if you’re not skilled at what you do, that strategy won’t take you very far.”

That’s why Hardy recommends that you put yourself in challenging situations. “This is how you evolve,” he says. And be sure to follow your own path and keep your why’s in front of you along the way to remind you of what is driving you forward. Let these motivate you when times get tough.

It’s only natural to come up with big ideas in business. That’s what being an entrepreneur is about. Just make sure you follow your numbers and those big ideas can potentially become big successes.

Read next: 10 Business Ideas Ready To Launch!

Jeff Broth, a business writer and advisor. Consulted for SMB owners and entrepreneurs for 7 years now. Mainly covering finance, stocks and emerging fintech trends.

Company Posts

Buy Or Invest In The Next Futuredev Properties Sandton Development

Looking to buy or invest in the next up and coming Sandton residential development? Futerdev Properties are currently developing Full-Title Free standing units, perfectly located just a few km’s away from the hustle and bustle of Sandton’s Central Business District.

Futuredev Properties

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Nearly half of all the office development taking place in South Africa right now is happening in Sandton. Sandton Central is the epicentre of this development, which includes many of the most cutting-edge, exciting and innovative new buildings on the continent.

Sandton Central is well established as Africa’s financial and business capital and continues to grow with developments that embody its vibrant, high-energy ‘live, work, play’ environment. It also currently holds the title of Africa’s Riches Square Mile.

With more people looking to be part of this live, work, play environment and the number of foreigners travelling to Johannesburg for business and work, the demand for residential property around Sandton Central has grown exponentially.

Live, Work And Play: Your Home Away From Home

Futuredev Properties specialises in developing Full-Title Residential Homes in the Sandton Area – Morningside and Bryanston to be specific. The most recent surveys have listed Bryanston as one of the better performing suburbs in terms of Capital Growth.

Our properties offer family living and a home-away-from-home feeling for those working in and around Sandton on longer or shorter assignments.

FutureDev Properties was founded by Akbar Hassim. We have established ourselves not only as an independent, but also a Turnkey Developer – being able to buy Land, Finance the Real Estate Deals, Create, Control and Orchestrate the process of the Development from beginning to end.+

“Our approach to Property Development and Investment therein involves thorough financial and delivery risk analysis, thereafter followed by focused and efficient delivery.”

This approach is underpinned by many years of experience, and an impeccable entrepreneurial spirit.

Buy And Invest In The Latest Residential Developments

We have a number of Residential Developments currently underway, each at various stages. These Full-Title Free standing units, afford residents space and comfort within the security of cluster/ estate living. Perfectly located just a few km’s away from the hustle and bustle of Sandton’s Central Business District, and within close proximity to all major Malls & Shopping Centres, Schools, Hospitals, Gyms and places of worship.

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We afford buyers and investors an opportunity to buy or invest in Prim Residential Real Estate, that provide the perfect balance of Excellent Capital Growth and Steady Income Yields.

Our Offering For Investors & Buyers

  • Full-Title Free-Hold Residential Cluster Developments
  • Prime locations, close to all essential amenities
  • Perfect balance of high Capital Appreciation and Steady Income Yields
  • Investor buyers can purchase with Rental Guarantees

*Limited number of investor units available

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Company Posts

Smoothie Franchise Opportunity: Puré Frooty Is A One-Of-A-Kind Smoothie Franchise Business

Looking for the next greatest franchise opportunity? Puré Frooty Smoothie is a highly perfected Australian business model launching in the South African market that doesn’t require extensive shop fitting or a large workforce.

Pure Frooty Smoothie

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Vital Stats

Puré Frooty Smoothie is a unique business model to the South African market. A delicious, fruit filled smoothie will be created at the touch of a few buttons.

An Innovative Franchising Concept

This innovation in the healthy smoothie industry is ground breaking for South Africa. The machine is manufactured in Australia by a highly skilled team. It took six years to perfect this business model for the consumer market.

The vision of Puré Frooty Smoothie is to offer convenient on-the-go smoothies for anyone. The experience and quality will always be of the highest standard. We aim to be a staple convenience in malls, schools, office parks and hospitals. This is a platform that will allow for self-growth for passionate entrepreneurs.

Our mission is to create a unique customer experience. We want to satisfy the nutritional needs of customers by providing quality smoothies. Puré Frooty Smoothie will be packed with all the goodness a smoothie should offer.

Related: Why Your Franchise Should Adopt A Shared Value Business Model

The four values we pride ourselves in are:

  1. Convenience
  2. Consistency
  3. Quality
  4. Customer Satisfaction.

Why Consider This Franchising Opportunity

healthy-smoothie-franchise

Extensive research into the business model and market

Puré Frooty Smoothie was an idea, researched widely, by people looking to simplify the business process for the consumer and business owner. There was a gap in the market for simplified customer service and a demand for a quicker turnaround time.

Simplified process for setting up a business

For an entrepreneur it can be very overwhelming to start or buy a new or existing business. There are so many crucial decisions that need to be made from the beginning and new concepts to adapt to.

Puré Frooty Smoothie simplifies that drastically:

  • Free-standing machines: The business model revolves around a free-standing vending machine which needs to be visited to refill and maintenance.
  • No shop-fitting required: There is no need for shop fittings or a large work force. All that is required is an inside space for the machine with a power supply.
  • Minimal human resources needed: In terms of a work force, you could either do it yourself or have one person to assist you. There is also a part time involvement where refill station teams can refill and maintain the machine.
  • Cashless business: The business is completely cashless so there are no worries of a note jam, full cash canister or insufficient denomination rand values. More importantly the machines would do a higher turnover than an ordinary vending machine so safety of no cash is important.
  • Easy tracking of stock and performance: A cloud-based system is linked to the point of sale which allows you to monitor your performance and stock from the back-office platform at any given time.
  • Efficient handling of maintenance: With a live point of sale system, the business is linked to a software which monitors the operations of the machine. Should anything malfunction an immediate notification will be sent with a diagnostics report.
  • Human error is eliminated: Everything is done with a computer which leaves little to no room for errors. It is self-order and very user friendly.

Related: SA Fast Food Franchising On The Rise

Why Will Customers Love It

Puré Frooty Smoothie offers a vending machine that can produce a delicious smoothie in forty seconds. An informative touch screen ordering panel which displays all the nutritional information of the smoothie ordered and has the current news and weather.

No time wasted for the consumer. In fact, it’s a learning session disguised as a waiting period. The machine has two wash cycles after every smoothie is made to be freshly prepared for the next smoothie, business hygiene is important.

Consumers live in the fast lane. We are looking for something quick and most times we would like to be healthier. With the hustle and bustle of today’s life every little bit helps. Puré Frooty Smoothie fills that gap in the market.

Interested in Becoming A Franchisee?

Visit our Franchise Info Page for everything you need to know about how to become information a Puré Frooty Smoothie Franchisee owner.

You can also call or write to us:

Phone / 012-942 6360
Email / info@purefrooty.co.za 

Want to know more about this franchise? Watch the video below for more.

 

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Company Posts

Enter The Total Startupper Of The Year Challenge

Are you a young entrepreneur? Do you have a project you believe in? Is it innovative and does it address a social or community challenge in your country or for your fellow citizens? Register and apply now. You could be the Startupper of the Year!

Total South Africa

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Startupper of the year challenge

After the success of the first Challenge in 34 African countries, this year’s has been extended to a total of 55 countries around the world.

3 winners from each country will receive financial support, extensive publicity and coaching. From among these 3 winners per country, we will select grand winners by region, who will be provided with exposure.

This year, a Top Female Entrepreneur category has been introduced. During the first Challenge, women accounted for almost 25% of the winners, even though they only made up 13% of the applicants.

Related: Business Plan Format Guide

With this special award this year, we hope to give the women entrepreneurs an extra push to take part. It is also aligned with other Total initiatives for women.

The 2018/19 Challenge

We aim to support good ideas and projects that help address a widespread problem affecting communities in your country. It could be about providing educational opportunities, reducing child mortality, improving public health, developing access to electricity in rural areas, improving road safety on the roads or building houses with eco-friendly materials — in fact, anything that could make life better in your country.

Tell us how your project will help more and more people over time, at home or even abroad. Tell us how it empowers people, improves living conditions, and contributes to overall economic well-being.

Anyone can change the world — teenagers or graduates, men or women. As long as you believe in your project and want to make things better, take this opportunity to participate. You could be the next Startupper of the Year or the Top Female Entrepreneur!

Enter the Total Startupper Of The Year Challenge Here

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