kateyboo.com

This is a picture of the same sneakers that I just bought. It’s a Brooks Maximus sneaker which was professionally fitted by Athelete’s Foot. So I definitely know that it fits well! 

The whole process was very relaxing and professionally done. I got my feet properly measured – width and length. And I walked across this sensor pad which mapped out the areas of pressure and any rolling when you walk. The lady told me that I am very heavy footed with a slight roll (but nothing too serious). I completely agreed with her – I do feel like I sometimes stomp around and my husband definitely thinks I should walk more ‘lady like’!

But it was an expensive exercise. I was in two minds whether I would just write down the sneaker model that they recommended and then buy it somewhere else, but in the end I decided that the money was worth the time and effort that they spent on me.

Which made me think about their business model and how well it was working. They only have sales twice a year and everytime I walked past one of their stores, there are always lots of people inside. It proves that people are willing to pay for expertise and time spent, rather than just hunting down the cheapest model that appears to fit them. Of course, it helps if you can afford it, but the number of people in their stores is a testament to their ‘point of difference’.

So what is your point of difference in your business? Do you have something that sets you aside from your competitors? 

Something that holds you in good stead even in these tough times?

Bookmark It

I was thinking about this the other day, after listening to more economic news: what sorts of industries thrive in a recession?

1. Fast food: this is a no-brainer. People will visit restaurants less often as they are trying to reduce their discretionary spend and will substitute this with take-out. It is no wonder that Dominos, KFC etc are showing revenue growth in this climate!

2. Entertainment zones: Timezone, pinball palours and the like will do well as people reduce their spending on movies and turn to cheaper forms of entertainment.

3. DIY: what better way to save money then to fix things yourself? The hardware industry should be reaping the rewards of people deciding to try some DIY

4. Home based business ventures: people that sell home based business start up kits should do especially well in today’s climate. It is not surprising that more and more people are looking for new ways to make money.. and whilst we are on this topic…

5. Internet marketing: definitely! With people either being retrenched, disilluioned or with more time on their hands, they are turning to internet marketing in droves.

6. Hobby businesses: businesses that are started and run from the kitchen/study/garage are exploding right now. With people losing their jobs, more and more are starting up small hobby businesses at home.

7. Businesses supporting hobby businesses: from people creating websites for new home based businesses, to technical support and business advice, these businesses should do well off the back of the hobby businesses.

8. Franchises: People want to be more in control of their destinies and franchises fulfil this desire by providing an established business model with a recognizable brand.

What other industries do you think do particularly well in a recession? And if you are in one of the above industries, how has the recession affected you?

Bookmark It

I have recently discovered the wonders of Outsourcing – it is truly an amazing thing and makes me realise how much technology has evolved and crossed boundaries.

We have been liaising with an IT company in India to develop our website for our new educational product and have been using Skype to discuss and send information over to them in real time.

We had been struggling to find someone local to develop a website for us that:

1. Was not flat out or too busy to return calls (I still can’t get over the lack of customer service in today’s world – but that is a topic for another post!)
2. Did not charge us exorbitant amounts of money for a simple website.

So thank goodness for outsoucing sites like: Odesk, elance, rent a coder etc which allowed us to find someone at a reasonable price and with a great turnaround.

For those that haven’t though about outsourcing, here are some things that you may be interested in knowing that may set your mind at ease. Our website was outsourced to an IT firm via Odesk.

1. You have complete control over the project. Odesk has a great facility whereby you can see the time spent by your contractor – you can even view their screen shots!
2. You can specify whether your assignment is a fixed price or hourly assignment. If it is an hourly assignment, you can cap the number of hours they work a week.
3. Communicating with them isn’t expensive – in fact, if you both have Skype then Skype to Skype calls are free! (This is how we have been communicating with our IT contractor)
4. You can assess a person’s skills by tests that they have done, you can view their portfolios and feedback from prior customers.

Obviously, it helps if you can afford to outsource – if not, then it is not really for you, but you may be amazed at how cheaply you can get things done.

Embrace outsourcing – it will make your life a whole lot easier!

Bookmark It

I love stories like this – check out this blog from Income Diary which has pics and a short story about how 14 of the biggest internet businesses of our day started.

Check it out here: where-14-of-the-top-internet-businesses-were-started

So where are you blogging/posting/running your business from?

I’m working out of my lounge room. We don’t have any space for a dedicated study so all my work is done on the couch with a laptop on my lap! The printer is in the nursery and our dining table is permanently cluttered with files, paperwork and other "non-dining related items".

I live on a daily fix of chocolate with a must-have cup of coffee in the morning. Multitasking has become my best friend and I live through Outlook!

So what is your work area like?

Do you have a dedicated work space or are you working surrounded by washing, laundry and toys??

Bookmark It

Great post from Work Yourself Up about how to run a successful home based business.

Working from home definitely has its benefits, but has its challenges. Anyone who has worked from home knows how easily it is to get distracted and sidetracked by the unimportant things.

This post has some great advice to anyone that is struggling to cut down their to-do list.

Check it out here: Work Yourself Up

Bookmark It