From jsonline: https://www.jsonline.com/story/money/business/2018/01/17/shes-investment-banker-turned-sommelier-turned-entrepreneur-who-makes-shatterproof-stackable-stemles/1020220001/
A better wine glass? Yes, at least a reusable plastic container.
Not earth shattering….a plastic wineglass….just better. The key reason for a better plastic wine glass….it solves a problem and enhances the flavor of the wine….the wine tastes better.
Not only a good idea….but a value product at less than $1 per glass.
The NY Times had a recent pictorial on making pencils. Not a high-tech product by any means….however a complex manufacturing process.
Whether making pencils or specialized metal components….manufacturing is a vital part of our economy. There is still a need for quality pencils!
The CEO of Chevron gave this advice:
Mr. Watson stated this: “The sooner you learn about reading people, listening to others and building relationships, the sooner you will be more effective. So I would have spent a little more time on the people side, a little more time on the relationship side, early in my career.”
While it is easy to get fixated on a product/service/data….at the end of the day….it’s people that create a successful business. And even more importantly is the customer interaction.
Our business success was 80% dependent on the customer….initially reading our customer….listening….and finally developing a relationship so that they wanted to buy from us.
American Airlines has introduced the Boeing 737 Max into its fleet….apparently to maximize revenue by installing more seats and tiny lavatories.
Certainly American Airlines and Boeing can be criticized for poor design (and adding aerators to the tiny sink faucet doesn’t solve the larger problem).
The fundamental issue is that when the CEO was asked if he was ever on the MAX. His response:
Doug Parker: “I have not been on the MAX.”
Being out of touch with your product….service….customer is simply poor management and even greater….a lack of leadership.
Our GE midsize microwave stopped working….the turntable would not turn. This microwave was purchased in May of 2014….less than four years old.
Troubleshooting was relatively easy and opening the bottom….found the small turntable motor shaft had fused to the turntable tray assembly. Deciding this microwave was worth repairing….the new parts were ordered. 15 minutes to remove the old motor….plug in the connection….and our microwave was as good as new.
GE makes good products….though perhaps not as good as years ago….the expectation is that our microwave will last at least for another 4 years.
Cree, Inc. is a company located in the Research Triangle….and is well-known as one of the originators of the LED technology.
A few months ago, BusinessInsider had a special offering of five of these Cree mini flashlights for $15. Since I was familiar with the brand….I went ahead and purchased them.
These mini flashlights are very useful….and exceedingly bright. While manufactured overseas….the unique thing is that they have a high degree of precision in the metal case.
While probably a low profit margin product….the well-made and useful flashlight enhances the Cree brand.
Loane Bros., Inc.
Not many business have been in existence for over 200 years. From bbc.com:
Founded in 1800 to supply sails to te whaling ships, Loane Bros. has adapted and reinvented itself to continue in business.
The key to longevity is: “We are still always learning to improve on what we do and how we do it.
Not all businesses can do this or even want to do it. However for some….it is also time to move on. In our business, it would also have required adaptability and even perhaps expanding the market. The market definitely changed and we would had also to change.