If you’re wondering what Product & Service Development items
might benefit from some additional operational structure, check these out:
- Do you know what differentiates your product from a company who offers similar services?
- Do you have different revenue streams? Do you know your profitable ‘backup’ plan?
- Do you purchase new inventory before it is sold? Or do you sell it after it is sold once / after you know the product will be paid off by x-number of upcoming uses?
- Are the products being added to inventory one-time, themed items or items that can be customized to several different events? If one-time, are they charged accordingly for the client to pay for them fully and not hurt the overall margin of the event?
If you said ‘no’ more than ‘yes’ when answering these questions, let’s dive into Product & Service Development together!