Saturday, September 18, 2010

Founder of Boost Juice: Why research will make you rich

Founder of Boost Juice about the hit Angus burgers:
"McDonalds took a core product, took notice of a gourmet burger trend in the market, did the research, took a risk and ramped up the quality and price. The result? McDonalds increased its average transaction and regained some lost gourmet customers, put brand points in its bank and I would say some extra profit. So the key is don´t try to recreate the wheel – finding the next great innovation almost always is a mutation of an existing product or service. Back up your instincts with customer research and take a calculated risk. Take something consumers love and are used to, then niche out a core desire the product has, multiply it by 10 and make it your hero brand essence and you could be on to a winner. Key essence: Don´t be better - be different in one key attribute."
From Janine Allis who sold 65 % of her juice business for A$65 million... Mixed quotes from BRW column.
This is how sparkling entrepreneurs create the future! Idea, research, success... How can you be one of them? Today 400 gen Y brains are meeting for Unconvention in Sydney, to present their ideas for investors. I´ll rock up later, in harem pants and a t-shirt. Hmm. Not selling any business ideas, just getting inspired by their brilliant minds. 

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