A significant reason why Harvey Norman came to dominate the computer market was not due to the size of the stores or a strong product offering. It was the result of a simple marketing initiative.
On 24 August 1995, Microsoft was about to launch its latest operating system— Windows '95. In the computer industry this was like the second coming. No one thought the Microsoft Windows '95 launch would be big in Australia until after the 'real launch' in America. Then, one of the proprietors suggested we take advantage of the difference in time zones and launch Windows '95 at midnight, a few hours prior to the launch in the US. It meant we would be the first company in the world to sell the program. At first I dismissed the idea but later, realised its potential.
When I first looked into starting my own business I quickly realised the importance of market planning and research, and how essential this is to succeeding. It’s imperative that you know about market competition, salary costs, product requirements, determining a target audience … and the list goes on and on...but before you get knee deep in logistics, it’s important not to forget the basics when looking to start your own business. Research is a powerful tool when it comes to succeeding in a business environment.
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Richard Turner talks about home-produced solar energy, and why the future looks sunny for ZEN Home Energy Systems.
One day, in 2004, Richard Turner decided he wanted to put some lights in the backyard cubby house for his kids. Given the location, it seemed solar panels might be the way to go. He thought he would buy a panel, set it up on the cubby and let it run.
If only it was that easy. Richard found the myriad of products, prices, options and information confusing and complex. It occurred to him that if someone with his business experience found it hard to understand, the average consumer must be utterly baffled.
Jen Watts, franchisor, creator and CEO of The Fairies talks about the importance of a brand.
When my first daughter was two years old my baby boy arrived. With a five week old son in my arms, I searched desperately for a TV show directed at young girl’s to keep my daughter occupied when I had my hands full. I was adamant that I wanted to find something that was entertaining and beautiful, and after searching and finding nothing that seemed pretty enough, I was inspired to create a show full of magic, sparkles, glitter and everything little girls love, as well as introducing social, moral and environmental values and addressing children’s milestones, something that would fill the gap in the market.
We are often asked “What is the difference between licensing and franchising and what is my solution?”
On a very basic level, licensing and franchising both deal with the selling of certain intellectual properties, whether software, trademark, or a business process, to third parties. However, franchising, under the watchful eye of the ACCC, has a much greater deal of control by the owner/franchisor than an owner/licensor.
For a business that is seeking to grow their brand across Australia and potentially internationally, franchising offers a methodology that potentially can allow you to reach a large size in a relatively short period of time due to:
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