I missed my evening write up so here is my morning catch up write up! 🙂
The big focus for the day was to complete the RedStores.com business plan (and send it out for peer review with EO). The Business Plan has been in the works for some time (months) – and I had looked at it with fresh eyes yesterday. I have been wavering a bit on the strategy – integrated shops, focused shops, etc, etc.
I read the business plan and it reminded me the beauty and simplicity of the plan – and how complicated marketing and integration is rather difficult. Reason for even exploring this was the change of netshops.com to the integrated model. BUT the CEO at netshops.com that made this call likely has no more knowledge of what the market will do that anybody else. So, the integrated, cross marketing approach they took is a GUESS – a best guess at that.
So, I’m going to stick with my best guess and in the fact that simple, easy, focused niche stores are the way to go. Cross traffic would be great BUT niche dilution will be greater (in my best guess). So, now – no more looking over my shoulder – just test of the hypothesis by action. I will be able to learn just as much (or more) by testing than by sitting in a room ‘thinking’ about things. So, action it is.
With this action, comes some of the questions of implementation - do we go for the most efficient model ie. do we do it RIGHT from the start – right being defined as: optimizing supply chain (costs), optimizing marketing (photos) or do we go half-RIGHT – and JUST move things on the new sites as a way of testing. When I look at it from the financial cost of view – both actions are actually equally cost efficient. What I give up doing it RIGHT or half-RIGHT – is not $ –but TIME! So, when I factor in the TIME into the overall equation, the half-RIGHT solution becomes the clear winner. The goal of a site launch is to make sure that you are able to confirm QUICKLY that the site concept works. You want to know ASAP if you should continue with a site or not. The sooner you know the better. Hence, initial site launches (as per the business plans) – are half-RIGHT but FAST! Once proven, resources are applied to make them RIGHT!
In terms of detail design – I worked out a visual representation of the business model and now my designer will translate that into onsite presence. Very simple! KISS principle.