1. Delight your target consumer
DO focus on creating articles that truly address the needs and pain points of your target consumer
Meet and exceed your needs
YES create fans, not just customers
DO NOT focus on internal issues
– Can you precisely define your target market and what motivates them?
– 50% of your target audience say they would definitely or probably buy your product?

2. Make sure it’s profitable from the start
DO screen ideas for profit potential at the idea stage
DO rework ideas ahead of time to address any profitability issues
DO NOT follow a flawed business model
– Does my item produce lucrative profits and losses in total and per unit?
– Do I have a viable business in Year 1 and “Year 3”?

3. Select and refine ideas
YES choose the best among several ideas
YES challenge and refine good ideas to make great ideas
Seek feedback from your target consumer and development resources
STRIVE to exceed expectations, be different, be better
DO NOT jump to an answer
– Is this among our best ideas 1 in 3 or 1 in 5?
– “What could make this even better?”

4. Position and clarify the product idea
MAKE SURE you clearly articulate what it is, what it does and how it benefits your consumer
YES assume full responsibility for your customers (merchant and consumer) to understand your benefits
BE different and superior
DO NOT overlook any opportunity to accurately tell your story (eg every touchpoint)
– Can you explain your concept in 5 words or less? Do customers (trade and consumption) understand and respond to your idea?
– Are you different and/or superior?
– Do you have a convincing profit history for the trade?

5. Keep your marketing frugal, focused, and fact-based
Identify your business goals before you spend anything
DO compare and choose between alternatives (providers, programs, methods)
YES quantify the productivity and efficiency of your programs
NOT “just do it”
DON’T overlook low-cost and no-cost PR opportunities
– Does this plan/program meet my business objective?
– What is return on investment? Is there a more efficient option?
– Is this program fully leveraged and consistent?

6. Perfect your business model
YES maintain, measure and continually improve a test market
TEST and refine product mix, pricing, and sales and marketing tactics
DO track and improve earnings performance
DO NOT measure progress by total sales growth alone
– Have you identified a small market where you can monitor your business model?
– What is your P&L performance in this small market?
– Are you continually testing and improving performance?
– Can you expand your best business model?

7. Beat the big boys
MONITOR and react to consumer feedback
Identify and own your niche
DEVELOP new products faster
DO NOT compete directly with them where they are strongest
– Do you/can you own your niche?
– Can you meet market needs and gaps that the big boys consider ‘too small’?
– Can you incorporate feedback for more new and better products?