Executive with a Track Record in Developing Growth Strategies and Solutions: I have devised and implemented winning strategies that have opened up new markets and business opportunities. I have developed strategies that address customer/market needs, secured buy-in from executives/board, motivated the functional organizations to deliver and launched successful products & business models.

 

Family Man: I enjoy spending time with my beautiful wife and two lovely kids. As a family we are a good mix of outdoors and indoors. My son and I are pretty much outdoors and sports oriented while my daughter and my wife like the indoors. This diversity of interests helps us maintain good balance in our lives.

Tag: Revenue

There are 2 posts tagged as Revenue.
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Fab.com : Customer Experience Success Story

This is an updated blog post on the customer experience driven innovation story of Fab.com.

In January 2010, Jason Goldberg and Bradford Shellhammer launched Fabulis.com, a social networking website for gay people. The initial vision of the founders was to become Yelp, Groupon and Facebook for gay people. Jason Goldberg was a successful serial entrepreneur who had successfully exited a couple of ventures before and Bradford Shellhammer was good with design. They both launched this social networking website which managed to attract 110,000 total customers and about 30,000 active users. Though they built a good website, Fabulis.com did not deliver a differentiated customer experience compared to Yelp, Groupon or Facebook, so gay people did not feel the need to use this website.

By early 2011, the founders realized that they need to do something different. So they shut down the site in order to develop a newer, un-served niche where they could be much more successful — one based on design. In June 2011, they launched Fab.com, a flash sales website (i.e. a site that offers products at deep discounts for a limited time) for the fashion-oriented customer segment. more

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Concept 2 Revenue: Key to Successful Business Innovation

“Concept” or “Idea” is often assumed to be the key ingredient to building a successful business, and hence a lot effort is put behind securing the idea, patenting it and protecting it. But as the cliché goes “Ideas are dime a dozen“, and this is true.

In many cases the initial idea with which the innovator started the journey is not the idea that is successful, but it has morphed along the way to an idea that is more acceptable/appreciated by the target audience. And along this journey there are many challenges that the innovators faced. There were hundreds of strategic decisions/ choices that they made which shaped the idea itself and its revenue earning potential. And there were multiple change management situations that they handled well to ensure that roadblocks to  innovation were removed ahead of time.

And it is truly the combination of all the actions/decisions taken during this journey starting at definition of the initial “Concept” to the recognition to sizable “Revenues”, are the key ingredients to building a successful business. Ideas on the other hand are just that, “Dime a Dozen”.

Through this blog I plan on discussing the different challenges and decisions that are required to be made from “Concept-2-Revenue”. There is no one size fits all, and this blog is not meant to be a holy grail. All it is a simple collection of various actions that I have seen lead to successful businesses.

Who should read this?

Business executives who are looking for innovating and developing new business opportunities. Who run into challenges when pursuing their innovation dreams and would like to learn from outside sources on how to solve some complex innovation challenges. Start-up entrepreneurs may not find this blog useful as they do not face many of the challenges/issues discussed in this blog (if they do then they should rethink their priorities/organization).

I hope you find this blog as entertaining and enjoying as I have found writing it.

 

 

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