Carefully calibrate the product, creating a balance between what the customer wants and what the competitive market will bear. On a new product, make small investments, change and react to what happens in the marketplace. Like a potter uses his hand to shape wet clay, refine your product as it makes its way tentatively through market place.
Remember, a kite can only be tested when it flies. Don’t keep your product too long in the laboratory – launch it, test it and improve it as you go along. Be hungry for early profits. Let the product evolve to achieve customer delight.
Work out a new source of revenue from an activity that has just been introduced. See how you can turn a cost centre into a profit centre.
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